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Comprehensive Economic & Trade Agreement (CETA): Main aspects of it and what’s in it?

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Canada-European Union: Comprehensive Economic and Trade Agreement (CETA)

The historic Canada and European Union (EU) Comprehensive Economic and Trade Agreement (CETA) is by far Canada’s most ambitious trade initiative. What are the main aspects of it and what's in it?

Published in: Law
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Comprehensive Economic & Trade Agreement (CETA): Main aspects of it and what’s in it?

  1. 1. Comprehensive Economic & Trade Agreement (CETA Main aspects of it and what’s in i Presented on May 8th 2 Avrio Advocati Bi-annual Conference -New York City (U
  2. 2. Some Statistics: Canada & Europe Trades Summary - In 2014, Canada was EU’s 12th most important trading partner; - EU is Canada 2nd most important trading partner; - Total value of bilateral trade 59,1 bn in 2014;€ - Machinery, transport equipment & chemicals; - €28,8 bn trade in services; - Investment from EU investors in Canada in 2013: 224.2 bn;€ - Investment from Canada in EU in 2013: 117.0 bn.€
  3. 3. Agreement in Principles: The Exact Status of CETA The text of the agreement will undergo a legal scrubbing followed by a translation into all official languages of the EU. At a later stage, the agreement will need to be approved by the Council and the European Parliament and the Canadian government (ratification)
  4. 4. What’s in it: Main Aspects of it - Elimination on tariff on goods - Elimination of technical barriers - Faster entry of goods - Investment protection - Services - Government procurement - Intellectual property - Dispute Settlement - Rules of origin - Labour mobility & recognition
  5. 5. What’s in it: Elimination of Tariffs on Goods - Élimination of 98% of EU tariffs on Canadian goods; - The remaining will be eliminated over a period of 7 years; - Strict rule of origin
  6. 6. What’s in it: Elimination of Technical Barriers - Recognition / Uniformisation of : - Labeling; - Product testing & certification;
  7. 7. What’s in it: Investment Protection - Investors vs. State dispute settlement process; - Protection from discriminatory or arbitrary government actions; - Investors may receive compensation.
  8. 8. What’s in it: Services - Better access to individual markets; - Common regulation of licensing and qualification criterions; - Mutual recognition of professional qualifications to facilitate the entry for highly skilled workers;
  9. 9. What’s in it: Government Procurements - Business will be able to participate in the government market; - Only high value procurements contracts with a threshold value (Allowing government to support local development); - Excluded/Closed industries: cultural, R&D, defines, recreation & sports, education and social, health care
  10. 10. What’s in it: Intellectual Property - Extended patent for pharmaceuticals ( 8 years +2); - Better counterfeiting laws; - Harmonisation of Trademark laws; - Wider recognition of EU geographical indication on certain food;
  11. 11. What’s in it: Labour & Mobility - Intra-company transferees (the lesser of 3 years or the length of the contract; - Contract suppliers & independant professionnels; - Intra-company trainees & investors (1 year or the term of the contract); - Short term business visitors (90 days within 6 month period)
  12. 12. What’s Next? We are here to support Christian Saraï lis Esq. LL.B, lawyer (Business law, Intellectual Property Law & Commercial Litigation) http://www.sarailis.ca Tel.: +1(418) 780-3880 ext. 201 christian@sarailis.ca Quebec City, Canada

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