Rubberstamping of Canada trade deal will benefit the Scotch whisky sector

16 February, 2017, 00:06 | Author: Ora Austin
  • Rubberstamping of Canada trade deal will benefit the Scotch whisky sector

The first round of the Comprehensive Economic and Trade Agreement (CETA) began nearly eight years ago, and has had to overcome an increasing anti-populist sentiment in Europe. But those wins may be fewer and farther in between now, with protectionist sentiments on the rise in the United States and many European countries.

After seven years of intensive negotiations, Members of the European Parliament today (15 February) approved the Comprehensive Economic and Trade Agreement between the European Union and Canada (CETA).

The UK's interests have been poorly defended in the negotiations of CETA, and, as you know, global trade secretary Liam Fox bypassed the UK parliament to sign the UK on to the deal at EU Council level.

Kevin Auch, chair of the Alberta Wheat Commission, says the trade deal will give Canada a large competitive advantage over the U.S. - Canada's biggest competition - because it will eliminate any tariffs imposed on Canadian production.

The Minister for Jobs, Enterprise and Innovation, Mary Mitchell O'Connor welcomed the vote which will remove trade tariffs on most goods and services between the European Union and Canada and open up Canada's public procurement market to European Union countries.

China Environmental Ministry Urges 20 Cities to Boost Air Pollution Coordination
India's Supreme Court banned the sale of fireworks, popular during the Hindu festival Diwali, in the capital after the emergency. The country has tightened its emissions standards for cars and will align them with strict European standards by 2020.

Justin Trudeau arrives in Europe on Thursday and plans to talk more openly about one of the things he didn't discuss with Donald Trump - the merits of free trade in the face of increasingly hostile, populist opposition.

The European Parliament has approved a landmark free trade deal with Canada. "This deal already belongs to a past era of non-transparent trade deals, but Europe's future relationship with Canada can still be a positive and progressive force in the world". "Saying yes to CETA is a trampling of the people", said a banner. In 2015 alone, Canada imported $338 billion worth of goods and services from the USA against a $325 billion export.

Trade is a core European policy and the EU's push over many years to use its economic weight to open markets worldwide has been a central argument for the merits of membership.

Implementation of CETA, including investment, will only ensue after clearance by more than three dozen national and regional parliaments, and is by no means a certainty.

Originally entitled the Investor-State Dispute Settlement (ISDS), the controversial court has now been rebranded as an "Investment Court System" (ICS).

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