Following seven years of negotiations, the Comprehensive and Economic Trade Agreement (CETA) will provisionally enter into force tomorrow. "The deal marks a milestone in EU-Canada relations and the EU's trade policy. The Agreement is the most advanced economic and trade treaty negotiated by the EU and it enhances the best practices from both sides, the EU and our close ally Canada", said Artis Pabriks MEP, who steered CETA through the Parliament.
Godelieve Quisthoudt-Rowohl MEP, the EPP Group's Spokeswoman in the Committee on International Trade, added that Europe and Canada are leading the way to shaping and harnessing globalisation: "We share the same values - so we open up to each other, to the benefit of consumers and businesses. CETA is the most advanced and modern free trade agreement today and its entry-into-force marks a new chapter in the transatlantic relationship." CETA will be fully implemented once the parliaments in all Member States ratify the deal according to their respective domestic constitutional requirements.
In the current international climate, the Agreement has underpinned Europe's leading position on trade and gives a strong common answer to Donald Trump's anti-trade policy. "In times of growing protectionism worldwide, we are proving to be the leaders of a global trade that is based on our rules and high standards. This is a new chapter for the future of the European Union and its trade policy. Together we stand stronger", explained the Latvian MEP whose home country was the first EU Member State to ratify the free trade deal following the approval of CETA by the European Parliament in Strasbourg in February 2017. Whereas the EPP Group clearly backed CETA in the European Parliament's vote on this hugely significant trade agreement, the vote revealed deep divisions among Socialists across the EU.
"As of tomorrow, CETA will bring immediate benefits and will allow European businesses, SMEs and consumers across Europe reap the benefits of this trade agreement, overturning the misleading populist rhetoric used by some political groups and trade sceptics. CETA will boost economic growth and will create more jobs. Therefore, let us all continue working on strong trading partnerships", Artis Pabriks concluded. The EU is already Canada’s second most important trading partner. The EU-Canada trade deal will further enhance trade and investment flows on both sides of the Atlantic.