about us | newsletter | contact | archive | members area

»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

EU seals trade deal with Canada

The European Parliament voted in favour of the Comprehensive Economic and Trade Agreement (CETA) between the EU and Canada, concluding the ratification process of this deal at the EU level, a press release shows.

2017-02-15 15:10:26

Welcoming the outcome of the vote held in Strasbourg, president Jean-Claude Juncker said: "Today's vote by the European Parliament is an important milestone in the democratic process of ratification of the agreement reached with Canada and it also allows for its provisional entry into force. Thus, EU companies and citizens will start to reap the benefits that the agreement offers as soon as possible. This trade deal has been subject to an in-depth parliamentary scrutiny which reflects the increased interest of citizens in trade policy. The intense exchanges on CETA throughout this process are testimony to the democratic nature of European decision making. I now call on all Member States to conduct an inclusive and thorough discussion at national level with the relevant stakeholders in the context of the national ratification process of the agreement."

According to the same source, CETA creates new opportunities for EU companies. "It will save EU businesses over 500 million Euro a year currently paid in tariffs on goods that are exported to Canada. It will give EU companies the best access they have ever had to Canadian public procurement contracts, including at provincial level (as well as federal and municipal)," the press release shows.

CETA will also create new opportunities for farmers and food producers, while fully protecting the sensitivities of the EU. The EUs openings on certain products are limited and calibrated and are balanced out by Canadian openings that satisfy important European exporting interests, such as cheese, wine and spirits, fruit and vegetables, processed products and the protection of 143 high quality European products (so-called "geographical indications") on the Canadian market.


On 30 October, the EU and Canada signed the trade agreement and today the European Parliament gave its consent. This paves the way for CETA to enter force provisionally, once it has also been ratified on the Canadian side. CETA will be fully implemented once the parliaments in all Member States ratify the deal according to their respective domestic constitutional requirements.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  4160 Views
Daily Info
TotalSoft appoints Dania Selaru as EAS Executive Director

TotalSoft, one of the leading software providers in Romania, announces the appointment of Dania Selaru as Executive Director, to further develop and execute the company's Ente...

World population to hit 9.8 billion by 2050, UN reports

The world population is now nearly 7.6 billion, up from 7.4 billion in 2015, spurred by the relatively high levels of fertility in developing countries - despite an overall dr...

Colliers to manage Art Business Center, the building with one of the largest private hospital in Romania

The real estate consultancy company Colliers International was assigned by Hili Properties group to provide property management services for the Art Business Center office pro...

Enel's CEO Francesco Starace is the new president of EURELECTRIC

Francesco Starace, CEO of the Enel Group, was appointed as new president of EURELECTRIC, the association representing the electricity industry at the pan-European level.

European Petroleum Refiners Association appoints Bela Kelemen as new president

Members of the European Petroleum Refiners Association unanimously appointed Bela Kelemen as President of the Association for the next two-year term. The Brussels based associ...

 
 
   
advertising

advertising

advertising

More on News
Sorin Grindeanu hails the support for CVM lifting before 2019

Prime Minister Sorin Grindeanu met at Victoria Palace with the European Commission President Jean-Claude Juncker. The meeting was also attended by the Public Finance Minist...

PM Sorin Grindeanu: 5.7 per cent economic growth - confirmation that the measures taken by the Government are the right

The 5.7 percent economic growth registered in the first quarter of 2017, as compared to the first quarter of 2016, an evolution which exceeds the expectations of analysts a...

New law on ports administration would be very damaging for Romanian state budget, Fondul Proprietatea says

Fondul Proprietatea is concerned by the renewed steps to approve the draft law amending the Government Ordinance on ports administration, which was re-examined and approved...

Vienna Insurance Group posts profit of 110 million Euro in Q1

Vienna Insurance Group reported a profit before taxes of around 110 million Euro in the first quarter of 2017, according to a press release.

Damages to electricity networks caused by severe weather conditions do not increase the distribution tariffs, says ACUE

Lately, Romania has been confronted with extreme, unpredictable meteorological phenomena that have caused major damages in large areas to electricity distribution networks....

Mol Group net profit up by 24 per cent to 323 million Euro in Q1

Mol Group announced its financial results for Q1 2017, with net profit up by 24 per cent year-on-year to 323 million Euro. In the first quarter, all business segments (upst...

Enel enters the Romanian gas supply market for residential customers

Enel announces the entrance into the Romanian gas supply market, with offers designed for ease of use and predictability for residential customers, who can now benefit from...