Canada Minister Confident Of EU Trade Pact Before End 2011

(The Wall Street Journal)

Canada is optimistic that it can sign a free trade agreement with the European Union before the end-2011 target, International Trade Minister Peter Van Loan said Thursday.

The two sides have concluded three rounds of negotiations, with a fourth planned for July and a fifth in October. This will be followed by a “stock-taking exercise,” and then a political and drafting phase that had been expected to take a year, Van Loan said.

“That has been moving ahead of schedule,” he told reporters on a conference call from Spain at the conclusion of a five-day trip to Europe. “So, we’re optimistic we will be able to complete it before the end of 2011,” he said.

Van Loan said both sides “appear to have a very strong commitment, very strong interest in an agreement, and one that aims high.” He said he doesn’t foresee negotiations extending beyond the fifth round. He said the two sides have set aside “sticky” matters for discussion later, and the fourth and fifth rounds of negotiations will wrestle with the “really difficult issues.” Read more here.