#EU

EU Parliament approves deal with Canada

anna smith
|Feb 15|magazine4 min read

Today, the EU approved a long-awaited free-trade deal with Canada. Many are hailing it as a step forward for openess in the face Donald Trump’s anti-trade administration.

The legislature was approved by a margin on 408-254, with 33 abstentions. The first round of the Comprehensive Economic and Trade Agreement (CETA) began almost eight years ago, and has had to overcome an increasing anti-populist sentiment in Europe.

Canada’s government is expected to ratify the deal in the next few months. This means means 90 percent of it would come into force under provisional application.

Prime Minister Justin Trudeau will travel to France to deliver his own pro-trade message in an address on Thursday to the European Parliament and to top business leaders a day later in Germany. This will be a first for any European Prime Minister.

“This is the right deal at the right time. Good for workers, consumers and a new standard for trade,” said International Trade Minister Francois-Philippe Champagne.

 

Follow @BizReviewCANADA

Read the January 2017 issue of Business Review USA & Canada magazine