Canada Trade Agreement With Europe

The eu-Canada Sustainability Impact Assessment (EID), a three-part study commissioned by the European Commission to independent experts and completed in September 2011, provided an overall forecast of the impact of CETA. [30] [31] [32] It foresees a number of macroeconomic and sectoral impacts, indicating that in the long run the EU could see real GDP growth of 0.02 to 0.03% as a result of CETA, while it could increase from 0.18 to 0.36% in Canada; The „Investments” section of the report suggests that these figures could be higher when investment increases are taken into account. At the sectoral level, the study predicts that the strongest growth in production and trade will be driven by the liberalization of services and the removal of tariffs on sensitive agricultural products; it also proposes that CETA could have a positive social impact if it contains provisions on the ILO`s core labour standards and the Decent Work Agenda. The study describes a large number of effects in various „cross-cutting” components of CETA: it opposes the controversial NAFTA-style provisions of ISDS; provides for potentially unbalanced benefits of a chapter on public procurement (GP); assuming that CETA will lead to upward harmonization of intellectual property rules, including changes to Canada`s intellectual property laws; and foresees effects on competition policy and several other areas. [32] The EU and Canada meet annually for bilateral summits and in CETA committees and dialogues to discuss a number of issues related to EU-Canada economic and trade relations. Over the years, the EU and Canada have concluded a number of other bilateral agreements to facilitate trade: after the transitional period, trade between Canada and the United Kingdom will be governed by the Canada-UK Trade Continuity Agreement, which, once in force, will reflect CETA conditions. The Comprehensive Economic and Trade Agreement (CETA) is a modern EU trade agreement that provides EU businesses with more and better business opportunities in Canada, supports jobs in Europe and protects consumers and the environment. In order for this A to enter into force and final, all EU Member States must ratify the agreement in accordance with their national procedures. This process is not yet complete. The Government of Canada will continue to monitor trade negotiations between the United Kingdom and the EU during the transition period and will monitor the impact of Canada`s trade with the United Kingdom.

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