European Union votes to proceed with Canada trade deal

The President said US trade with Canada merely required a “tweak” in a joint press conference with Prime Minister Justin Trudeau on Monday, but Charest exercised caution in predicting what that might mean in practice.

The signing ceremony in October 2016 was delayed by a month as a small regional government, Wallonia in Belgium, vetoed against the deal.

CETA is a broad agreement that not only eliminates most customs duties on goods traded between Canada and the European Union, but also enhances market access by addressing government procurement, trade in services, regulatory cooperation through conformity assessment, mutual recognition of professional qualifications, investment protection, and enhanced intellectual property protection. He said that “trade that is free and fair means that we can make the lives of our citizens more affordable”.

International Trade Minister Francois-Philippe Champagne said the deal was “good for workers, consumers and a new standard for trade”. The parliament has completely failed the first test of its commitment to the Paris agreement.

Former Quebec Premier Jean Charest says CETA gives Canada an advantage over the U.S.in gaining preferential access to Europe.

The US is also Canada’s most important direct investment destination, with $448 billion investment in stocks in the same year. “And we believe in inclusion, and in diversity”, he said. “No one will be able to compete with the multinationals”.

THE maritime sector has been included in the European Union’s revised emissions trading system, which was ratified by the European Parliament today.

The draft measures were approved by 379 votes to 263 with 57 abstentions, although until a few hours before the vote MEPs were not sure the proposals would be passed.

A part of the group of the Social Democrats, the Greens, the far-left and Eurosceptic formations were against the agreement. “It is the last of these old treaties from the twentieth century, with a dose of shaggy liberalism, with a totally deregulated free trade”. CETA will not bring more than 0.018 percent more employment for the 28 member countries, but will cause considerable sectoral dislocation, Gregori Pirinski (S&D), rapporteur for the Labour Committee, said.