Comprehensive Economic and Trade Agreement

Comprehensive Economic and Trade Agreement ( CETA ) - a free trade agreement between Canada and the European Union . ^{[1] [2] [3]} If the agreement enters into force, it will eliminate 98% of the tariffs between Canada and the EU.

CETA
Comprehensive Economic and Trade Agreement
Canada and the EU
Type of contract	trade agreement
date of signing	October 30, 2016
Entry into force	did not take effect
Parties	and 28 EU member states
Languages	All official languages ​​of Canada / EU

Negotiations were completed in August 2014. All 28 Member States of the European Union approved the final text of the CETA for signature ( Belgium was the last country whose ministers approved it). ^[4] Justin Trudeau , the Prime Minister of Canada, arrived in Brussels on October 30, 2016 to sign the document on behalf of Canada. ^{[5] The} European Parliament approved CETA on February 15, 2017; ^[6] Most of the provisions of CETA can be applied on a temporary basis from April 2017. The remaining parts of the agreement are subject to ratification by national legislative bodies. ^{[7] [3]}

The European Commission points out that the agreement will allow each year to save for exporters from the EU a little more than 0.5 billion euros in taxes, receive mutual recognition in regulated professions such as architects, accountants and engineers, and facilitate the relocation of company employees and other professionals between the EU and Canada. The European Commission argues that CETA will create more equal conditions between Canada and the EU on intellectual property rights. ^[eight]

Critics oppose the contract on the grounds that CETA will weaken the rights of EU consumers, including those related to food safety , And that the existing tariffs are already very low. ^[9] CETA has also been criticized as a boon only for large businesses and transnational corporations , while there are risks of net losses, unemployment and environmental damage affecting individual citizens. ^{[10] [11] [12]} CETA also includes a controversial mechanism for resolving disputes between the state and the investor . This agreement sparked protests in Europe and Canada. ^[13]