Canada, European Union Make Changes To Facilitate Trade Deal Ratification

The government of Canada and the European Commission recently announced a new agreement regarding each country’s interpretation of parts of their Comprehensive Economic and Trade Agreement (CETA) that relate to investor protection from environmental regulation.

The new interpretation is designed to persuade European Union (EU) member states to ratify the bilateral trade deal.

According to the Canadian government, the CETA has advanced diversification in key industrial, service, and investment sectors and supply chains, and it has helped facilitate greater cooperation in priority areas, including the environment, critical minerals, and regulatory matters.

“Canada and the EU stand united by shared values, reaffirming our unwavering commitment to sustainable economic growth, upholding the rules-based international order and safeguarding our environment from the impacts of climate change,” Canadian Minister of Export Promotion, International Trade and Economic Development Mary Ng said. “CETA is a cornerstone of our partnership, and Canada is committed to advancing joint efforts toward job creation and economic prosperity on both sides of the Atlantic.”

In her statement, Minister Ng also underscored the importance of maintaining stability and laying the groundwork for constructive future discussions on issues including World Trade Organization reform, and she reiterated Canada’s commitment to Ukraine’s long-term economic recovery. Click here to read more.