Reduce duties: Canada hopes that the free trade agreement with the EU benefits for its mining companies.
For the third time, the European Union and Canada celebrate the EU-Canada free trade agreement Ceta. In October of last year, it was to celebrate the agreement in principle, ten months later, in August the completion of the contract text and Friday – at the summit of both sides in Ottawa – the conclusion of the negotiations. It will not be the last ceremony. The 1,500-page treaty has yet polished legal, translated into 23 languages and are ratified by Canada, the EU Member States and the European Parliament. In two years, it is said, the free trade agreement then could finally come into force.
Author:.> Hendrik Kafsack, born in 1972, economics correspondent in Brussels 
Author:. Patrick Welter, born in 1965, economics correspondent in Washington
Ceta deepened close economic relations today. The EU is Canada’s second largest trading partner after the United States. In the EU, ranking the most important trading partner manages Canada ranked 12th in a study for the start of negotiations six years ago, the income gains were of a free trade agreement for the EU with 11.6 billion euros and 8.2 billion euros for Canada with the year calculated. Foreign trade could then rise by 20 to 24 percent. Duties fall almost completely off, on regulatory issues, both sides intend to cooperate closely.
The EU emphasizes above all the concessions that Canada did in services and in the awarding of public contracts. You can see the winners of the automotive industry, recognize their EU standards Canadians to a large extent the future, about chemistry and engineering to the telecom sector and insurers. Canada stressed that it receives preferential access to the largest economy in the world, and provides advantages for all industries, the export of metals and minerals in the manufacturing sector to agriculture and forestry.
Large view
In Europe, the ratification of the agreement should be not automatic. Especially in Germany the resistance grows despite the benefits for the local economy. The federal government makes its consent conditional on the chapter heavily criticized is adapted to investor protection. It allows foreign companies to defend themselves against discrimination by the government before arbitration tribunals. Similarly, the European Parliament could move, in November plans to adopt a corresponding resolution. The Commission rejects such claims and confirms that they have established and clarified new transparency standards for arbitration, that the ability of governments would not be restricted as in environmental and health protection. In addition, the Canadians insisted on the protection of investors, it says.
More is on the topic
Contrary reported in Ottawa, Canadian negotiators had the Europeans urged to restrictions on investor protection to the regulatory scope sure in terms of health or the environment. Even in Canada, there are concerns about the protection of investors. The country is sensitized by the experience with the North American Free Trade Agreement (NAFTA) between Canada, the United States and Mexico. 35 times Canada was sued by foreign companies since 1994, more than Mexico (25 cases) and the United States (16). In at least four cases, American companies have won it against Canada.
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