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EU-Canada Agreement
Table of Contents
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- EU-Canada Agreement
- Canada and the EU: The Imperatives of CETA ratification
- With its U.S. alliance under pressure, could canada join the EU?
- Here’s what would happen if Canada joined the European Union
- Canada’s trade minister visits Brussels in bid to boost mutual commerce
- Canada, EU should take advantage of trade deal to lessen reliance on U.S. market, experts say
- Exploring the EU-Canada Relation: an Expert Interview
The EU-Canada Thorough Economic and Trade agreement (CETA) is a progressive trade agreement between the EU and Canada. It entered into force provisionally in 2017, meaning that most of the agreement now applies. All national (and in some cases regional) parliaments in EU countries need to approve CETA before it can take full effect.
Canada and the EU: The Imperatives of CETA ratification
On 30 October 2024, the Canada EU Trade and Investment Association (CEUTIA) hosted a discussion with Canadian bilateral buisness groups in eight of the 10 member states that have yet to ratify CETA. While some of the “historic” issues for non-ratification (namely concerns over ICS and the space for governments to regulate) remain, they were …
With its U.S. alliance under pressure, could canada join the EU?
European Council President Charles Michel, left, von Der Leyen and Trudeau visit Signal Hill National Historic Site at the end of 19th Canada-EU trade summit in St. John’s on Nov. 24, 2023.(Greg…)
Here’s what would happen if Canada joined the European Union
Canada’s trade minister visits Brussels in bid to boost mutual commerce
Canada, EU should take advantage of trade deal to lessen reliance on U.S. market, experts say
Exploring the EU-Canada Relation: an Expert Interview
In the rapidly evolving landscape of global trade and geopolitical alliances, the EU-Canada relationship stands as a beacon of economic and diplomatic cooperation. The EU-Canada Trade agreement (CETA) has been a focal point of this collaboration. As efforts to fully implement CETA persist, discussions swirl around the potential future of Canada’s integration with the European Union.Let’s delve into these critical topics with the insightful words of Dr.Naomi Roth, a distinguished economist and trade policy expert.
Understanding the EU-Canada Comprehensive Economic and Trade Agreement (CETA)
We start with our guest,Dr. Naomi Roth, a renowned specialist in international trade. Dr. Roth provides us with a comprehensive overview of CETA.
Editor: Could you please explain what CETA is and its significance in the context of EU-Canada relations?
Dr. Roth: CETA, the Comprehensive Economic and Trade Agreement between the European Union and Canada, is a progressive trade agreement that entered into force provisionally in 2017. It has facilitated a significant reduction in tariffs and has led to deeper economic integration between the two regions. CETA is significant becuase it not only boosts bilateral trade but also sends a signal to the global community regarding the importance of trade liberalization and cooperation in the face of increasing protectionism.
The Imperatives of CETA Ratification
Editor: What are the key challenges and issues currently hindering the full ratification of CETA, especially given that some European countries have yet to approve it?
Dr. Roth: The ratification of CETA has faced several challenges, especially concerns over the Investor-State Dispute Settlement (ISDS) mechanism and the fear that CETA might encroach upon national governments’ regulatory powers.These issues are still contentious, especially in countries that have not yet ratified the agreement.However, there are constructive dialogues being held between Canadian business groups and EU member states to address these concerns and build broad-based support for CETA.
Canada’s Potential Integration into the European Union
We discuss the hypothetical scenario of Canada joining the EU.
Editor: With recent geopolitical changes,could Canada perhaps join the EU,and what roles might CETA play in this scenario?
Dr. Roth: While the potential for Canada joining the EU is a topic of debate, CETA could serve as a strong platform for further integration. CETA has already aligned many regulatory systems and standards between Canada and the EU, making the transition smoother if there were to be a future referendum on EU membership. Though, this would require considerable political will and significant legislative changes from both sides.
Trade Efforts and Mutual Commerce
Dr. Roth weighs in on recent efforts to boost trade between Canada and the EU.
Editor: Canada’s trade minister recently visited Brussels in an attempt to boost mutual commerce. How effective do you think this visit could be in strengthening the trade relationship?
Dr. Roth: Such high-level visits are crucial for maintaining and strengthening diplomatic and economic ties. The trade minister’s visit likely fostered new initiatives and discussed measures to tackle existing trade barriers. Enhanced cooperation could lead to new trade partnerships and cooperative efforts to leverage CETA fully.
Reducing Reliance on the U.S.Market
Dr. Roth talks about the implications of reducing reliance on the U.S. market.
Editor: How can Canada and the EU take advantage of CETA to lessen their reliance on the U.S. market?
Dr. Roth: CETA provides an excellent prospect for both Canada and the EU to diversify their trade relations and reduce dependency on the U.S. market. By focusing on mutual trade initiatives, removing barriers, and fostering investment in sectors where they have complementary strengths, Canada and the EU can create a robust and resilient economic partnership. This could include joint investments in technology, renewable energy, and other sectors that enhance their competitive edge globally.
Conclusion
Dr. Roth summarizes the core insights from our discussion.
Editor: What are the main takeaways from our discussion on the future of EU-Canada relations and CETA?
Dr. Roth: The main takeaways are the importance of CETA in deepening trade ties and the necessity for continued dialog to address regulatory concerns and challenges. CETA stands as a critical platform for enhancing economic and political cooperation between the EU and Canada. As Canada explores potential integration with the EU,CETA will play a pivotal role in smoothing the transition and fostering stronger bilateral relations.Additionally, by leveraging CETA, both regions can strive to enhance mutual commerce and reduce their reliance on the U.S. market, fortifying their economic sovereignty and resilience.
