Brussels, 18/12/2009 (Agence Europe) - On Thursday 17 December, the EU and Canada signed a comprehensive air agreement on the sidelines of the Transport Council. The agreement will in time allow the aviation market between the EU and Canada to be opened. Initially, all the airlines of the European Union will have the possibility to operate direct flights to Canada from any airport in Europe. The agreement does away with all the restrictions contained in the existing bilateral aviation agreements concerning itineraries, tariffs and the number of weekly flights between the Canada and the EU. Other traffic duties will be gradually liberalised, in parallel to the creation of investment outlets (EUROPE 9801). Progress will be assessed by a joint committee established pursuant to the agreement, being also competent for decisions on moving forward to the following stage of the agreement. With the agreement, EU companies or nationals will have the possibility to invest freely in Canadian airlines, and vice versa. Initialled in London on 30 November 2008, the agreement was politically endorsed during the EU/Canada summit on 6 May this year. The European Commission considers the opening of mutual air transport markets could generate profits of at least €72 million and over 1,000 direct jobs during the first year. It also believes that, during the first years of the agreement's implementation, air traffic will increase by around 3.5 million passengers. In 2008, over 9 million persons travelled between the EU and Canada and 19 of the 27 EU member states were linked to Canada by bilateral air agreements. (A.By./transl.jl)