Canada says EU's 'job' to save trade pact

Image
AFP Brussels
Last Updated : Oct 22 2016 | 10:28 PM IST
Canada turned up the heat on the European Union today, saying it was the bloc's "job" to save a trade pact put in doubt by a Belgian region's refusal to sign on.
Chrystia Freeland, the Canadian trade minister, was firm after leaving last-ditch talks with European parliament head Martin Schulz to salvage the proposed accord that was seven years in the making.
"Now the ball is in Europe's court and it's time for Europe to finish doing its job," Freeland said, adding that she was returning to Toronto today but hoped to be able to come back on October 27 and sign the agreement.
Brussels meanwhile scrambled to resolve the impasse as Schulz also had an 11th-hour huddle with Paul Magnette, head of the Wallonia region's socialist government which is blocking the agreement between Ottawa and the 28-nation bloc.
Afterwards both sides admitted the sticking points are related to "problems within the European Union," said Schulz.
"We still have some difficulties between Europeans," Magnette said while adding that "the discussions we have had together have been very useful."
According to aides of the Walloon leader, Magnette was now waiting for a statement from the European Commission which precisely addresses the Belgian francophone region's concerns about the trade deal.
The pact with Canada known as the Comprehensive Economic and Trade Agreement (CETA) would link the EU market of 500 million people with the world's 10th biggest economy.
The accord was initially scheduled to be signed next Thursday with Canadian Prime Minister Justin Trudeau in Brussels -- and Schulz said that date remained in the diary.
Canada blasted the EU yesterday as "incapable of having an international agreement", as talks to persuade Wallonia broke down.
Freeland's comments fed into warnings that the EU, beset by rising anti-globalisation sentiment, may never be able to land any other deals including one with the United States.
The Walloon parliament earlier this week had refused to let the federal Belgian government approve the deal between Canada and the European Union, which needs to be backed by all 28 EU member states.
The CETA is opposed by anti-globalisation groups who say it is a test model to push through an even more controversial EU-US trade deal called TTIP, talks on which have also stalled.
And Wallonia has some supporters around Europe.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Oct 22 2016 | 10:28 PM IST

Next Story