1. Canada-EuropeanUnion: Comprehensive Economic and Trade Agreement
(CETA)
The Canada-EU summit on 26 September in Ottawa marked the end of the negotiations of the
EU-Canada trade. The agreement will remove over 99% of tariffs between the two economies
and create sizeable new market access opportunities in services and investment. The text of the
agreement will now 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
Negotiated agreements
Most, if not all industrial, agricultural and fisheries duties will be eliminated when the agreement
enters into force; the EU and Canada will foster closer contacts in the field of technical
regulations;
Canada will recognise a list of EU car standards, from which EU car exports to Canada will
benefited companies will have better access to key Canadian sectors such as financial services,
telecommunications, energy and maritime transport.
Concerns and outcome.
CETA will tackle a whole range of issues to make business with Canada easier. It will remove
customs duties, end limitations in access to public contracts, open-up services' market, offer
predictable conditions for investors and, last but not least, help prevent illegal copying of EU
INNOVATIONS and traditional products.
2. The agreement contains also all the guarantees to make sure that the economic gains do not come
on EXPENSE of democracy, environment or consumers' health and safety.
With CETA, EU companies will be able to bid for public contracts in Canada at all levels of
government. This includes the PROVINCIAL authorities, responsible for a large public
spending.
CETA will create more of a level playing field between Canada and the EU as regards
intellectual property rights. For instance, the EU pharmaceutical sector can see
TANGIBLE benefits thanks to developments in the Canadian patent system. Also, European
innovations, artworks and brands will be better protected against being unlawfully copied.
Conclusion
This trade agreement has solved many trade issues between Canada and EU, which is beneficial
for both of the parties, in future EU should make such more agreement with other countries and
within its members countries, which will resolve many trade agreement and it will be better for
maintaining lawful environment in international trade.