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Friday, October 21, 2016

Comprehensive Economic and Trade Agreement(CETA)between Canada and European Union(EU)

The Comprehensive Economic and Trade Agreement (CETA) is a proposed Free Trade Agreement between Canada and European Union(EU)and

 If enacted, the agreement would eliminate 98% of the tariffs between Canada and the EU.

A landmark trade deal between the European Union and Canada is in meltdown, after Canada’s trade minister walked out of talks with the Belgian Regional Parliament that has been blocking the deal 

The Canadian trade minister,Chrystia Freeland was on the verge of tears on Friday Oct 21,2016 as she announced the “end and the failure” of talks with the Walloon government.

Leaving the Élysette, the home of the Walloon government in Namur, Freeland said: “It seems obvious that the EU is now not capable of having an international agreement, even with a country that shares European values such as Canada, even with a country that is so kind and patient.

“Canada is disappointed. I am personally very disappointed. I have worked very very hard. We have decided to go home. I am truly very, very sad.”
However the head of the European parliament said late on Friday he would hold emergency talks in a bid to save the deal.

Martin Schulz, the president of the European parliament, said he would meet Freeland early on Saturday Oct 22,2016  and Walloon premier Paul Magnette after that to revive the talks. “We can’t stop at last mile,” he said on Twitter

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