Canadian Senate Approves CETA Implementation Bill

The Canadian Senate approved legislation last week for implementing the Comprehensive Economic and Trade Agreement (CETA) between Canada and the European Union. The move is one of the final stages before the two trading partners can begin the provisional application of the accord. On the EU side, the European Parliament also approved CETA in February this year, though full ratification will still require approval from national and regional legislatures. (See Bridges Weekly, 16 February 2017 ) CETA overview Covering a wide range of issues from eliminating duties to protecting geographical indications, along with provisions relating to sustainable development, proponents say that CETA is by far the most comprehensive and advanced trade deal ever reached by either party. Upon entry into force, CETA will immediately eliminate 98 percent of tariffs between the two trading partners, increasing later to 99 percent. Other notable features include opening up Canadian public procurement markets to EU bidders at all levels of government – a first for Ottawa – and the inclusion of a new investment court system. In a video published earlier this year, Canadian Minister of International Trade François-Philippe Champagne described the planned accord as a “progressive trade agreement for the middle class” that...