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EU credibility in tatters following CETA saga: MEP

Xinhua, October 28, 2016 Adjust font size:

The credibility of the European Union (EU) on global trade deals is in tatters following the struggle of a landmark trade pact between the bloc and Canada, a Member of the European Parliament (MEP) said on Thursday.

Emma McClarkin, a British Conservative Party politician, made the remarks after Belgium finally gave its consent to the Comprehensive Economic and Trade Agreement (CETA) as a result of lengthy negotiations by the country's five regional authorities.

The deal was supposed to be signed by the EU and Canada at a scheduled Brussels summit on Thursday, but the meeting was cancelled as the agreement was only reached within Belgium around noon, in spite of several ultimatums given by the EU.

"It makes you wonder why they dragged this out so long? (Canadian Prime Minister) Justin Trudeau could have been in Brussels signing this agreement today with fanfare. Instead he has cancelled his trip with a bad taste in his mouth," the MEP said.

After the EU struggled over a high-quality trade deal with Canada, a country with values and standards similar to Europe, the other countries will now ask whether it is worth the time and effort conducting such deals with the bloc, according to McClarkin.

"We need to show them that the EU can be a reliable trade partner," she added.

Belgium was the last EU member state to approve the deal, which required unanimous consent but was blocked by the country's Francophone authorities for concerns mainly over dispute settlement and agricultural imports. Endit