Among the areas where differences still exist between the parties are agriculture market access, intellectual property standards relating to the pharmaceutical industry, procurement at the provincial and municipal-government level, and investor protection through arbitration rules.
Canada-EU trade amounts to $67 billion a year, with Canada chiefly exporting natural-resource intensive industrial goods like steel, manufactured goods like machinery and transport equipment, chemical products, and energy products to the EU, and the EU exporting a similar mix, with less energy and more machinery and transport equipment, to Canada.
Both economic blocks stand to gain from an increase in bilateral trade due to returns to scale. A joint-study in 2008 projects a $14.9 billion gain in annual income for the EU and a $10.5 billion annual gain for Canada from a FTA.
Canada currently has FTAs with fourteen countries and has an economy that is heavily reliant on external trade.