With 28 Member States with a total population of more than €500 million and a GDP of €13.0 trillion in 2012, the European Union (EU) is the second largest domestic market, foreign investors and traders in the world. 29 (Xinhuane) — The Comprehensive Economic and Trade Agreement (CETA), a free trade agreement between the European Union (EU) and Canada, has helped both sides promote trade and jobs over the past three years, EU and Canadian leaders said Thursday. The agreement provides for tariff concessions for processed agricultural products. Tariff concessions for certain basic agricultural products are covered by bilateral agricultural agreements, which are part of the instruments for the creation of a free trade area between the contracting parties. For EFTA-Canada trade statistics, see the trade statistics tool, countries closer to one another tend to trade more, especially with goods, and this is the case with the United Kingdom and the EU. The EU`s agreement with Canada is called the Comprehensive Economic and Trade Agreement, abbreviated ceta. Canada`s trade commissioners provide expert advice and important contacts for exporters, partners and investors. Both the EU and Canada will have the right to regulate freely in areas of public interest such as environmental protection or human health and safety.  The Parties recognize the growing importance of trade in services and investment in their economies. .