Trade deal between the European Union and Canada - opening the door to new opportunities

The long-delayed landmark trade deal was signed by Canada and European Union on Sunday 30 October 2016 at a summit in Brussels. A Signing ceremony was planned for 27 October 2016 but this had to be canceled after region vetoed the agreement. 

But after marathon talks, on 28 October 2016 to formally approve the deal a consensus was reached allowing all 28 EU states. 

On 27 October 2016, Belgian Prime Minister Charles Michel said that after marathon talks they had agreed on an continuation to the deal which addressed regional concerns.

In the presence of EU Trade Commissioner Cecilia Malmstrom and Canada’s anmbassador, Belgiam Foreign Minister Didier Reynders signed the accord on behalf of this country. He tweeted after the signing that “Nothing is easy in Belgium, but few things are impossible.” 

The EU said that trade deal with Canada is the most important and aspirant one it has ever signed. 

This trade took seven years to negotiate. The EU and Canada say it’ll set the gold-stander for future trade deals. 

Seven years of negotiations were left hanging, because when Wallonia the region of  French-speaking of Belgium’s demanded strong safeguards on labor, environmental and consumer standers.  It also wanted more protection for Walloon farmers, who would face new competition from Canadian imports.

Prime Minister Robert Fico of Slovakia said that “This trade deal opening the door to new opportunities, “over and above, it has the dynamic to set the way forward for future trade deals.”  

Complications over the Comprehensive Economic and Trade Agreement (CETA) deal had raised fresh concerns about future UK negotiation with the EU on a Brexit trade deal.

Demonstrations dressed as clowns protest against international trade agreements TTIP and CETA in front of EU headquarters in Brussels on 30 October 2016.