What Is The Eu Canada Agreement
“We set standards that will determine globalization in the years to come,” European Commission President Jean-Claude Juncker said at a press conference alongside Trudeau. “Nothing in other trade agreements can stay below the level we have reached today with Canada.” The benefits and opportunities for businesses under the agreement will be particularly valuable for SMEs, as trade barriers tend to disproportionately burden small businesses, which have fewer resources to overcome them than large firms. These include important economic benefits: CETA is Canada`s largest bilateral initiative since NAFTA. It was launched as a result of a joint study “Assessing the Costs and Benefits of a Closer EU-Canada Economic Partnership” published in October 2008. Officials announced the opening of negotiations on May 6, 2009 at the Canada-EU Summit in Prague   At the conclusion of the Canada-EU Summit in Ottawa on March 18, 2004, at which the Heads of State and Government agreed on a framework for a new Canada-EU Trade and Investment Promotion Agreement (TIEA). TIEA should go beyond traditional market access issues and include areas such as trade and investment facilitation, competition, mutual recognition of professional qualifications, financial services, e-commerce, temporary access, small and medium-sized enterprises, sustainable development and the exchange of knowledge and technology. TIEA should also build on a regulatory cooperation framework between Canada and the EU to promote bilateral cooperation on the regulatory approach, promote best regulatory practices and facilitate trade and investment. In addition to removing barriers, TIEA is expected to increase Canadian and European interest in each other`s markets.  TIEA lasted until 2006, when Canada and the EU decided to halt negotiations. This has led to negotiations for a canada-EU trade agreement (later renamed the Comprehensive Economic and Trade Agreement (CETA) and this agreement, beyond TIEA, is in line with an agreement with a much broader and more ambitious scope. The access that accompanies the EU agreement with Canada – which is in the same ball park as its agreements with Japan and South Korea – allows for almost duty-free trade in goods.
Specifically, CETA eliminates tariffs on 98% of the products the EU negotiates with Canada. Tariffs on almost all products will be abolished within seven years. Although it reduces tariffs, quotas and plant protection controls continue to limit food exports. In addition, this type of free trade agreement would create a whole new set of costs, red tape and border controls for businesses wishing to trade under such an agreement. This is not a “frictionless” trade. On 27 April 2009, EU member states adopted a negotiating mandate for the implementation of a new economic free trade agreement between the EU and Canada: the Comprehensive Economic and Trade Agreement (CETA). Negotiations were officially launched at the EU-Canada Summit in Prague, Czech Republic, on 6 May 2009. The first meeting on the Comprehensive Economic and Trade Agreement between Canada and the European Union was held on June 10, 2009. The first round of negotiations took place in Ottawa from October 19 to 23, 2009. On January 18, 2010, Canada and the European Union met in Brussels for the second round of negotiations. The third round of negotiations took place in Ottawa from April 19 to 23, 2010.
The fourth took place in Brussels from 12 to 16 July, the fifth in Ottawa from 18 to 22 October 2010, and the sixth round of negotiations took place in Brussels from 17 to 21 January 2011. The two countries held a seventh round of talks in April 2011, while the eighth round took place on 15 July 2011. The ninth round of negotiations took place in Ottawa from October 17 to 21, 2011. The Comprehensive Economic and Trade Agreement (