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Ceta: EU and Canada sign long-delayed free trade deal | |
(about 1 hour later) | |
The European Union and Canada have signed a long-delayed landmark trade deal, following weeks of uncertainty due to opposition in Belgium. | |
The deal was signed in Brussels by Canadian Prime Minister Justin Trudeau and top EU officials. | |
The signing ceremony initially planned for Thursday had been cancelled after Belgium's Wallonia region vetoed the agreement. | |
All 28 EU states approved the deal on Friday when consensus was reached. | All 28 EU states approved the deal on Friday when consensus was reached. |
The Comprehensive Economic and Trade Agreement, known as Ceta, required all EU member states to endorse it. | The Comprehensive Economic and Trade Agreement, known as Ceta, required all EU member states to endorse it. |
The deal removes 99% of tariffs - and officials hope it will generate an increase in trade worth $12bn (€10.9bn; £9.8bn) a year. | The deal removes 99% of tariffs - and officials hope it will generate an increase in trade worth $12bn (€10.9bn; £9.8bn) a year. |
The deal was due to be signed at 11:00 local time (10:00 GMT), but was postponed after Mr Trudeau's plane had to turn back to Ottawa airport after experiencing "mechanical issues" shortly after take-off. | The deal was due to be signed at 11:00 local time (10:00 GMT), but was postponed after Mr Trudeau's plane had to turn back to Ottawa airport after experiencing "mechanical issues" shortly after take-off. |
Love in the air... and lessons for Brexit? By Damian Grammaticas, BBC Europe correspondent | |
Justin Trudeau had a happy smile on his face today. Relief? Delight? A bit of both. | |
A handshake for European Council President Donald Tusk, representing the EU's 28 member states, came with a hug, and from European Commission President Jean-Claude Juncker, a kiss on both cheeks. | |
Love was in the air between the EU and Canada after a rocky few days. | |
Canada has a new economic opening to 500 million Europeans. The EU believes this proves it can do big trade pacts which are good for its citizens. | |
Are there lessons for Brexit? Jean-Claude Juncker said he didn't believe so. | |
But there are some observations to be made. Ceta was approached with goodwill on all sides. Still it took seven years. | |
Ceta is about removing trade barriers. Brexit may discuss which ones to put up. | |
If the UK limits the movement of people, will the EU seek to do the same? And what other barriers may come, too? | |
And will political parties and leaders around Europe now follow the Walloons and bargain hard over Brexit, too? | |
Seven years of negotiations were left hanging in the balance after Belgium's French-speaking region of Wallonia demanded stronger safeguards on labour, environmental and consumer standards. | Seven years of negotiations were left hanging in the balance after Belgium's French-speaking region of Wallonia demanded stronger safeguards on labour, environmental and consumer standards. |
It also wanted more protection for Walloon farmers, who would face new competition from Canadian imports. | It also wanted more protection for Walloon farmers, who would face new competition from Canadian imports. |
On Thursday, Belgian Prime Minister Charles Michel said that after marathon talks they had agreed on an addendum to the deal which addressed regional concerns. | On Thursday, Belgian Prime Minister Charles Michel said that after marathon talks they had agreed on an addendum to the deal which addressed regional concerns. |
Prime Minister Robert Fico of Slovakia, which currently holds the EU presidency, said the final approval of the deal was "a milestone in the EU's trade policy". | Prime Minister Robert Fico of Slovakia, which currently holds the EU presidency, said the final approval of the deal was "a milestone in the EU's trade policy". |
Complications over the Ceta agreement had raised fresh concerns about future UK negotiations with the EU on a Brexit trade deal. | Complications over the Ceta agreement had raised fresh concerns about future UK negotiations with the EU on a Brexit trade deal. |
Mr Tusk had warned that the delays and wrangling were further damaging EU credibility following Britain's vote to leave the bloc. | Mr Tusk had warned that the delays and wrangling were further damaging EU credibility following Britain's vote to leave the bloc. |