EU and Canada seek to quash trade concerns with declaration

By anna smith

Canada’s trade minister and the EU trade chief have attempted to assuage doubts of Austria and other EU members over a planned free trade deal between the two entities.

Chrystia Freeland, Canadian Trade Minister, said that key issues would add no new elements to the deal.

"What the joint declaration can do is strengthen elements which already exist in the agreement," Freeland told a joint news conference with Austria's Economy Minister Reinhold Mitterlehner on Wednesday. "What it is not able to do is introduce entirely new elements."

Several oppose the The Comprehensive Economic and Trade Agreement (CETA) - it has been a key target of protests by unions, environmental organisations and others who say it will worsen labour conditions and allow big business to challenge governments across Europe.

In a letter, European Trade Commissioner Cecelia Malmstrom wrote: "We intend to clarify all the points that have sparked particular concern in public debate, especially the ability of governments to provide public services and the protection of labour and environmental standards."

If member states and the European Parliament approve it, The EU-Canada deal could be enforced next year. Chances of this happening increased on Monday after the German Social Democrats (junior partners in the ruling coalition) gave their backing.
 

Follow @BizReviewCANADA

Read the September 2016 issue of Business Review USA & Canada magazine

Share

Featured Articles

Amelia DeLuca, CSO at Delta Air Lines on Female Leadership

Driving decarbonisation at Delta Air Lines, Chief Sustainability Officer Amelia DeLuca discusses the rise of the CSO and value of more women in leadership

Liz Elting – Driving Equality & Building Billion-$ Business

Founder and CEO Liz Elting Turned Her Passion into Purpose and Created a Billion-Dollar Business While Fighting for Workplace Equality – and Winning

JPMorgan Chase: Committed to supporting the next generation

JPMorgan has unveiled a host of new and expanded philanthropic activities totalling US$3.5 million to support the development of apprenticeship programmes

How efficient digital ecosystems became business critical

Technology & AI

Mastercard: Supporting clients at a time of rapid evolution

Digital Strategy

Why Ceridian has boldly rebranded to Dayforce

Human Capital