The Comprehensive Economic and Trade Agreement between Canada and Europe presents opportunities for the Canadian Beef Industry.
The agreement, also known as CETA, will eliminate the high tariff on Canadian beef. The only catch is, the beef has to be raised without the use of hormones and processed in packing plants a specific way.
CETA will allow Canadian Beef 65,000 tonnes per year of new duty free access to the European market.
John Masswohl, Director of Government and International Relations with the Canadian Cattlemen's Association, says they need about 5,000 producers to raise beef without the use of hormones in order to meet the demand.
"There's still some pieces that have to be put in place, but ultimately we think that the agreement can be worth over $600 million a year in beef exports to Europe. Traditionally, we've been doing between $5 - $10 million a year. It's a lot of work to do, but the pay off is going to be big as well."
He adds, the Canadian Cattlemen's Association has resources to help producers who are interested in raising cattle for export to Europe.
The Trade Agreement is set to come into action September 21, 2017.