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Roundup: Canadian PM to address European Parliament after CETA approval

Xinhua, February 16, 2017 Adjust font size:

Canadian Prime Minister Justin Trudeau is scheduled to address the European Parliament at 11 a.m. on Thursday, during the Parliament's plenary session in Strasbourg, following the approval of the EU-Canada Comprehensive Economic and Trade Agreement (CETA).

The trade deal, which will see almost all tariffs on goods and services eliminated between the European Union (EU) and Canada, was given the green light by European Parliament on Wednesday in a vote won by 408 votes to 254 against, with 33 abstentions.

Trudeau's formal speech will be the first given by a Canadian prime minister to the European Parliament. He is expected to promote Canada's role on progressive trade and investment, including highlighting how CETA will help create jobs, bolster shared prosperity, and grow the middle class.

The comprehensive trade agreement, the first such deal between the EU and a highly industrialized Western economy, is predicted to boost EU-Canada trade in goods and services by more than 20 percent once it is fully implemented from its 2015 level of 60 billion euros (63 billion U.S. dollars).

Trudeau will likely still try to sell the deal in his address, since CETA has proved controversial, with some organizations and political groups fearing that it could lead to unfair advantages being given to multinational companies.

In addition, the trade agreement will still need to be ratified by national and regional parliaments in order to be implemented in full, a process that could take years, and which the Canadian prime minister will try to influence.

Following the green light given by the European Parliament, however, CETA will still be eligible for provisional application, with the majority of its measures being applied. Provisional application could occur as early as April 1.

Negotiations for the CETA began in 2009 and were formally concluded in September 2014.

The deal was approved by European Parliament at the same time as a EU-Canada Strategic Partnership Agreement that established bilateral cooperation on a range of non-trade issues, such as foreign and security policy, counter-terrorism, fighting organized crime, sustainable development, research and culture. Endit