The EU and Canada have signed a long-awaited free trade deal at a summit in Brussels. The Comprehensive Economic and Trade Agreement (CETA) removes 99% of customs duties between Canada and the single EU market. The deal has to come into force on condition that it is ratified by Canada and all 28 EU states.
CETA is viewed as a prototype of a more large-scale free trade agreement to be negotiated between the EU and US, known as the Transatlantic Trade and Investment Partnership (TTIP). The talks were initiated by President Obama and EU leaders. But they were suspended due to growing opposition on both sides of the Atlantic. On the one hand, EU farmers voice concern over fierce competition with big US agricultural producers. On the other hand, both nominees for the US presidency, Hillary Clinton and Donald Trump, are against the deal.
Back to CETA, Belgium's French-speaking region of Wallonia vetoed the agreement for a month. However, the federal Belgian government and the European Commission assured the local authorities to sign the pact.
European Parliament Vice President Alexander Lambsdorff called on Wallonia’s government to make concessions for the sake of joint aims.
