Former German foreign minister suggests Canada should be part of EU

Actually, the EU has a whole bouquet of options for countries that want to cooperate with it. It can be trade agreements, free trade area, currency union, Schengen Area and so on. Norway, Switzerland and Turkey are examples of different degrees of associated status.

But be aware that any full EU membership would non-negotiable include the right of not only companies but also people to move freely in the common area - yes, that would mean that any EU citizen has the right to move to and live in Canada, and vice versa, as long as these persons can support themselves.