Monday 24 October 2016

What are the future of CETA?


Jointly Canada-EU trade agreement deal Comprehensive Economic and Trade Agreement also known as CETA is under threatened.

Justin Trudeau, Canada's prime minister, has warned the EU that failure to endorse a trade deal with the G7 economy risked sending the wrong message to the world.

World leaders are expected to meet in Brussels later this month to formally sign the so-called Comprehensive Economic and Trade Agreement (CETA).

Following a meeting with French prime minister Manuel Valls, Mr Trudeau said: "If in a week or two we see that Europe is unable to sign a progressive trade agreement with a country like Canada, well, then with whom will Europe think that it can do business in the years to come?"

Mr Trudeau added that rejection of the trade deal would send "a very clear message not just to Europeans but to the whole world that Europe is choosing a path that is not productive."

He said CETA would set "a new standard" for international trade agreements, while suggesting its rejection would lead to the inevitable existential question being raised: "What's the point of the EU?"

All EU member states must ratify CETA in order for it to come into effect next year.

Earlier on Thursday, a German court cleared the way for Berlin to provisionally sign on to the pact.

However, the long-awaited trade deal could be halted by a region of Belgium, with the country's French-speaking government in the southern region of Wallonia likely to block it due to fears that it could lead to a flood of cheap imports.

Mr Valls described CETA as a "win-win agreement for workers, for our agriculture industry, for the environment and for public services", noting that many French foods were protected under the deal.

The EU is Canada's second-largest trading partner, behind the US, while Canada is the EU's 12th biggest partner.



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