The president of the European Commission told the G20 summit that Europe’s free trade deal with Canada, the Comprehensive Economic and Trade Agreement (CETA), is the “best and most-progressive” trade agreement the EU has ever negotiated.
Speaking at the G20 on Sunday in China, Jean-Claude Juncker said the agreement deserved the full support of the EU’s member states and rapid ratification.
“Our new trade deal with Canada – CETA – is the best and most-progressive agreement we have ever, as a European Union, negotiated,” Juncker told reporters in Hangzhou. After the meeting Juncker tweeted:
“w/JustinTrudeau at #G20. #CETA is best agreement we ever negotiated. It deserves full support of our Member States.“
Prime Minister Justin Trudeau responded to Juncker’s tweet:
“Thank you, Jean-Claude. Canada is ready to work with the EU to build strong economies on both sides of the Atlantic.“
Ahead of the G20, Prime Minister Justin Trudeau urged his peers to be open to trade as isolationism does nothing to create economic growth. Canada and the EU have committed to signing the agreement this year with ratification in 2017, however, Austria, Germany and other EU countries are opposed to the agreement. If a provisional agreement is signed, 90% of CETA could be implemented before member states have an opportunity to vote on the deal.
International Trade Minister Chrystia Freeland has stated once ratified, the agreement will provide better access to more than 400 million people in the EU. The Minister also tweeted earlier this week:
“#Canada and #EU are committed to passing #CETA, a progressive example for the world.“
Following are key upcoming events pertaining to CETA:
|September 17:||Massive protests will be taking place against CETA across Europe.|
|September 22:||European Union trade ministers meet in Bratislava, Slovakia to discuss the
provisional application of CETA.
|September 26:||Freeland will speak in favour of CETA at the German Social Democratic Party
convention in Berlin.
|October 27:||Trudeau is scheduled to be in Brussels to sign CETA.|
|November 29:||European Parliament International Trade Committee expected to vote on CETA.|
|December/January:||CETA could go to European Parliament for plenary ratification vote.|
For more information please call Brian Rowe, General Manager – Customs Consulting Services at (905) 882-4880.