“CETA is a game changer for major trade agreements”. The Sting reports live from EBS 2015

The Sting clicks at the CETA session during European Business Summit 2015. (European Sting, 07/05/2015)

The Sting clicks at the CETA session during European Business Summit 2015. (European Sting, 07/05/2015)

Trade has become one of Europe’s main keys to unlock future growth and so it became one of the hottest topics in Brussels’ finest parlour this year. But the message that European Business Summit wanted to launch in 2015 is that when it comes to trade in Europe, it certainly is not all about TTIP.

The Canada-European Union Comprehensive Economic and Trade Agreement, or simply CETA, was at the spotlight during the European Business Summit this year, given the prominent presence of Canada in this year’s edition. Although the negotiation process recently concluded, there are still a few open points of discussion, especially around the time that will pass before an official approval by the Council of the European Union and the European Parliament is made. The CETA session explored the topic in detail and the Sting was there to cover it.

After moderator Paul Adamson, chairman of Forum Europe, welcomed the attendees, it was Steve Verheul, Canada’s Chief Trade Negotiator, to take the stage. “CETA is overall a balanced agreement, a very ambitious deal which will bring a lot of Benefits”, he declared. Mr. Verheul had no doubts about the “recipe” behind it: “Thanks to common values, share thoughts and common views we went through very productive negotiations and so we got to this agreement”. This very positive point led us to challenge Mr. Verheul with a question which necessarily drew the attention towards TTIP.

Indeed it came as natural for us to ask Mr. Verheul why other trade agreements don’t go as smoothly, if success is sitting on common values and shared views. “Do you think Canadian values differ so much to American values? Why the EU doesn’t seem to find an agreement so easily with the US, although the values set is apparently so similar?” – the Sting asked Mr Verheul.

“The role of Governments is basically the most important thing in this kind of delicate negotiations”, he told us. “Generally speaking yes, I think that for many things Canada is closer to the EU than the US. The two governments had exactly the same views on many aspects, like safety, culture, etc.”, Mr. Verheul continued, “and this made it [to find an agreement] easier”. During the session he has also drawn the attention to a very delicate aspect, especially in relation to the TTIP negotiations. “We have never asked the EU to modify, or even lower its standards, or somehow adapt to our system”, Mr Verheul stressed.

In the same session, Mr. Markus Beyrer, Director General of BusinessEurope, expressed his satisfaction for the “important result” reached. “This agreement is a game-changer”, he often repeated last Wednesday at the conference we attended.“Of course we have negotiated attentively and we have changed some points – it’s normal – but we always wanted to take a step forward”.

Mr. Beyrer also gave his opinion on the Canada-EU value scheme telling us that the EU shares the same values with both Canada and US, but when it comes to TTIP the matter is much more complex. The EU-US agreement has itself more complicated aspects, like, for instance, public procurement. “Most of the critics around these trade agreements are focused on globalisation, but this is our chance to shake globalisation”, he underlined.

The EU-Canada CETA negotiations were concluded on 1 August 2014, and the trade agreement was officially presented on 25 September 2014 by the Canadian Prime Minister Stephen Harper and European Commission’s former President Jose Manuel Barroso during an EU – Canada Summit at the Royal York Hotel in downtown Toronto.

If approved, the agreement will begin to come into effect in 2016 at the earliest, when 98% of the tariffs between the two parties will be eliminated.

A joint study by Canada and the EU revealed that CETA could deliver a 20% boost in bilateral trade and a €11.6 billion annual increase to the EU economy.

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Featured Stings

Banks get trillions and the unemployed ECB’s love…

Can Greece’s democratic institutions keep it in Eurozone?

Another doomed EU attempt to interfere in Libya?

ECOFIN: Protecting bankers and tax-evaders

China’s New Normal and Its Relevance to the EU

Deutsche Bank again in the middle of the US-EU economic skirmishes

“C’est la vie”? French recession and unemployment to linger in Eurozone

The true EU unemployment rate may have soared to 21.9%

The European Internet is not neutral and neither is the Commissioner

EU to lead one more fight against climate change at G7 summit

Social Committee teaches Van Rompuy a lesson

Is Europe ready to cooperate with the rest of the world? Can Germany change its selfish policies?

ECB money bonanza not enough to revive euro area, Germany longs to rule with stagnation

A male gynecologist in Iraq: red line violated

The EU stops being soft with 10 Downing Street about Brexit

Greece may offer to China a European gateway

EU-Turkey deal on migrants kicked off but to who’s interest?

JADE Testimonial #3: Sebastian @ Fundraising

Do the EU policies on agro-food smell?

How distorted is the EU labour market by this crisis?

Launch of Pact for Youth: European Youth Forum calls for real business engagement

The strong version of the EU banking union gains momentum

EU deserves the title of the Syrian affair merchandiser

Climate Change Revolution: by-laws for the world

More unemployment and lower wages to make European workers competitive?

A young European voice on Grexit: too high a bill and too big a deal!

Investing in working conditions and quality jobs

Europe rethinking its severe austerity policies

Gender Equality and medicine in the 21st Century: we want the fair share

Austerity lovers and ‘relaxationists’ fight over the EU budget

Youth Guarantee putting young people in jobs

Threats from mammoth banks and Brussels fuel May’s poll rates

From Russia with love: Brussels and Moscow close to an agreement on Ukraine’s gas supplies

Eurozone stagnates after exporting its recession to trading partners

South Eurozone needs some…inflation and liquidity

Assembly of European Regions @ European Business Summit 2014: The European regions on the path to recovery

Is there a chance for the West to win the war on terror?

The race for Driverless vehicles: where is the industry heading?

Eurozone: Economic Sentiment Indicator recovering losses

The European Parliament rewrites the EU budget in a bright day for the Union

Why do thousands of migrants need to be drowned for Brussels to wake up?

Youth Entrepreneurship Issue of the month: JEN, organisers of JADE October Meeting, on why JEs should come together

€5 billion of EU energy efficiency project money spent on “comfort”

The challenges of mental health among the Syrian medical students

Entrepreneurial leadership: what does it take to become a leader?

Minority governments ‘à la mode’ in Europe but can they last long?

Greferendum: the biggest political gaffe in western modern history to tear Europe apart? #Grexit #Graccident

Parliament toughens its position on banking union

What have the banks done to the markets making them unable to bear cheap oil?

ECB offers cheaper money despite reactions from Germany

Fostering intergenerational solidarity and cooperation through age-friendly environments: the right answer to Europe’s demographic challenge

The EU Commission to fight unemployment tsunami with a…scoreboard

Is deflation a real danger for Eurozone?

Eurozone: Bankers-politicians rig keeps robbing taxpayers

How can entrepreneurship tackle the migration crisis in the EU?

What will Germany look like after the next election?

Italian electoral results to change Eurozone climate and weight on the Cyprus issue

Appreciation of euro to continue

MWC 2016 LIVE: Freemium MVNO model a success, claims FreedomPop head

Nitrate pollution of water sources: new impulses for EU Water Policy?

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s