Canada signs pact with European bodies on trade, investment

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BELGIUM: PRIME Minister, Justin Trudeau, has signed trade pact with the European Council and European Commission under the Comprehensive Economic and Trade Agreement (CETA).

The agreement, when fully implemented, would generate billions of dollars in bilateral trade agreement and investment, GatewayMail learnt.

The pact, according to a news release from the Prime Minister Office (PMO), would also provide greater choice and lower prices to consumers and create middle class jobs in many sectors on both sides of the Atlantic.

“Negotiating trade agreements, such as the Canada-European Union (EU) Comprehensive Economic and Trade Agreement (CETA), will benefit Canadians, create new job opportunities, and help to grow the middle class and those working hard to join it,” the PMO said.

Trudeau, with the President of the European Council, Donald Tusk, and President of the European Commission, Jean-Claude Juncker, signed the CETA at the European Union-Canada Leaders’ Summit in Brussels, Belgium.

“The signing of CETA is a historic occasion,” Trudeau said at the signing ceremony.  “This modern and progressive agreement will reinforce the strong links between Canada and the EU, and create vast new opportunities for Canadians and Europeans alike – opening new markets for our exporters, offering more choices and better prices to consumers, and forging stronger ties between our economies.”

The PM added: “The Canada-EU partnership is based on shared values, a long history of close cooperation, and strong people-to-people ties.

“The signing of CETA and the SPA sets the stage for even deeper relations in the future which will bolster the middle class on both sides of the Atlantic.”

Trudeau also said: “CETA will offer significant benefits for most sectors of the Canadian economy, from fishermen in Newfoundland and Labrador, to aerospace workers in Quebec, and from people assembling automobiles in Ontario, to forest industry workers in British Columbia to miners in the Northwest Territories.”
“Both Canada and the EU are committed to bringing CETA into force as soon as possible,” the PMO said in news release.

It added: “The leaders also signed the Strategic Partnership Agreement (SPA), which will enhance cooperation in important areas such as energy, environment and climate change, migration and peaceful pluralism, counter-terrorism and international peace and security, and effective multilateralism.

“In addition, the leaders issued a joint statement following the Summit that outlines commitments and key areas of focus for Canada and the EU in coming years,” the PMO said, adding: “The statement focused on shared values and interests including peace, democracy, prosperity, protection of human rights, rule of law, environment, inclusion and cultural diversity.”