In a long-awaited moment after days of negotiations with the Belgian region of Wallonia, the Comprehensive Economic and Trade Agreement (CETA) between the European Union and Canada was finally signed.
Seven years of negotiation resulted in the most advanced and progressive trade agreement to date. It contains ambitious chapters on sustainable development, labour and the environment. CETA will not only help foster trade and economic activity, but also allows the EU to shape globalization according to European values. It will benefit producers, manufactures, exporters and consumers and will create jobs in many sectors in both the EU and Canada.
In addition, the EU and Canada will intensify collaboration by signing a new Strategic Partnership Agreement (SPA). SPA covers fundamental areas of policy including climate change, energy, development, security, the fight against terrorism, defence, migration and research and innovation.
CETA still needs the approval of at least 38 national and regional parliaments but both the EU and Canada are committed to bringing the agreement into force as soon as possible.
The Comprehensive Economic and Trade Agreement (CETA) is a milestone beyond doubt that sets the benchmark for future agreements such as the Transatlantic Trade and Investment Partnership (TTIP)