This article was last updated on April 16, 2022
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Growing number of questions are being raised about the feasibility of an unprecedented trade deal negotiation between EU and Canada after it was rejected by a Belgian regional parliament. The vote also indicates that if the agreement fails to pass, it will set a very unproductive tone for future arrangement between the UK and the EU as well.
Although the EU trade ministers are hoping to have the deal signed on Tuesday, doubts are increasing about the possibility having it rejected due to a resolution against it passed by the Walloon parliament on Friday. Canada and the EU spent seven years to negotiate the comprehensive economic and trade agreement (CETA) but it can only be put into practice if passed unanimously by all 28 member states. Due to the resolution, Belgium has threatened to bring down the deal as they argue that CETA gives too much power to multinationals.
In a speech by the Canadian Prime Minister, Justin Trudeau, in the Walloon parliament on Thursday, the premier hinted that Canada is running out of patience with the EU’s problems in finalising the agreemen. He stressed that “if we find in a week or two that Europe is incapable of signing a progressive trade deal with a country like Canada, then who does Europe think it can do business with in the years to come?” Moreover, Trudeau alleged that “in this post-Brexit [vote] situation, where there are a great many questions about Europe’s usefulness, if Europe cannot manage to sign this agreement, then that sends a very clear message. Not just to Europe, but to the whole world, that Europe is choosing a path that is not productive for its citizens or the world. And that would be a shame.”
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