Wednesday, August 6, 2014

EU trade deal terms nearly completed

The detailed legal terms of the free trade agreement with the European Union have been completed, Canadian officials said in a briefing for reporters in Ottawa this week.

But the finalization and implementation of the deal may still be two years away.

That’s because once the text is ready, it will need approval from the provinces and from the 28 nations that belong to the European Union.

During that ratification process, there will probably be more “tweeking” of the text, the officials said.
Germany has indicated it’s not happy about the disputes-settling agreement that’s part of the package.

Canada’s dairy farmers have said they’re not happy with the increase in the volume of cheese that can enter Canada at a reduced tariff rate. There are also questions about who in Canada will gain the right to import these cheeses. Import permits are prized possessions because the cheese can be bought at relatively low prices and sold in Canada at much higher prices.