CETA is a modern agreement that offers a great opportunity to establish fair and robust rules for an increasingly deep globalization and to play an active role in this regard. The high standards agreed between the EU and Canada will set a benchmark for future trade agreements. Learn more. Canada is consistently referred to as a trading nation, with total trade accounting for more than two-thirds of its GDP (the second highest level in the G7 after Germany).   Of this total, about 75% are treated with countries that are part of free trade agreements with Canada, particularly with the United States, on the North American Free Trade Agreement (NAFTA).  At the end of 2014, Canadian bilateral trade reached $1 trillion for the first time.  Publication: Convenience translation of the summary of Dr. Dr.`s legal expertise. .