Monday, July 19, 2010

When EU Talks Trade, It Receives More Than It Gives - Canada Must Be Wary During CETA Negotiations

(Edmonton Journal, Peter Clark)

Canadian and EU negotiators were meeting again last week in Brussels for the fourth round of negotiations on the Canada-EU Comprehensive Economic and Trade Agreement (CETA). International Trade Minister Peter Van Loan is also wrapping up a European tour to promote Canada-EU relations to “highlight Canada's competitive advantages to European partners.”

Will the CETA negotiations be deeper and broader than NAFTA? CETA is Canada's biggest bilateral initiative since NAFTA. But how much exuberance is warranted?

The reality is that Canada wants CETA more than Europe needs it. Europe recognizes this and will use its leverage to extract a high price. Canada must ensure the selling of this deal is more than negotiator's “puffing” and that Canadians will get what they are paying for.

Concluding CETA is important -- particularly to multinationals already inside the EU regulatory system through investments or partnering.
Read more here.