The European Parliament has voted in favour of the EU-Canada trade deal known as CETA.
The landmark deal has been nearly eight years in the making and aims to increase trade and investment between the two blocs.
Critics say it is bad for workers, the environment and the food industry, and that it favours big corporations.
Fine Gael MEP Deirdre Clune believes it will be good for Irish businesses.
She said: "If you're in the export-orientated business, which I think up to 80% of our small businesses are, well then there's a new market provided through Canada, 35 million citizens and like-minded consumers.
"It means your products, if you are exporting them, will not now have tariffs or duties on them, they will have free access to markets in Canada."