EU, Canada Open Skies

The European Commission today announced that it has finalized negotiations on a new bilateral air services agreement that enables European carriers to operate direct flights to Canada from any European point, while removing restrictions on foreign investment.

The EC today said the agreement "removes all restrictions on routes, prices or the number of weekly flights between Canada and the EU." The agreement sets the stage for other "traffic rights" to be "liberalized gradually in parallel with the opening up of investment opportunities."

The EC noted that under the agreement European Union nationals would be able to establish operations in Canada and "freely invest in Canadian airlines and vice versa." European Commission vice president Antonio Tajani noted that goes beyond the provisions in the U.S.-EU Open Skies agreement, which continues to evolve in second-stage negotiations.

"The new agreement makes the EU-Canada market one of the most open in the world and is a milestone for EU-Canada relations," Tajani said. "It will be key in further stimulating EU-Canada transatlantic trade."