Let it die……….
‘The EU is close to death’: Bloc trade chief launches bitter warning amid fears Canada deal could collapse
- The EU-Canada deal has taken seven years to negotiate
- There are fears it could collapse as the drawn out process continues
- All 38 national and regional parliaments must ratify it
- Trade chief Jean-Luc Demarty hopes it will still be signed off by Canada
- ‘EU trade policy would be “close to death”,’ if it fell through Demarty said
- Free trade is becoming a harder sell for governments
The European Union’s director general for trade has reportedly warned the bloc’s trade policy is ‘close to death’ if its deal with Canada falls through.
The EU-Canada trade deal, which has taken seven years to negotiate, is one of the most comprehensive ever struck.
Jean-Luc Demarty said Brussels would have a ‘big credibility problem’ if the agreement collapsed.
Demarty spoke at the bloc’s trade policy committee after France and Germany insisted that a trade deal with Canada – the Comprehensive Economic and Trade Agreement (CETA) – will have to be agreed on by all 38 national and regional parliaments before it can be signed off by Canada.
Notes from the meeting, leaked to Politico, say Demarty ’emphasised the outstanding importance of CETA’ .
He spoke about how important it was to complete a very good deal and also how CETA is a test for the EU’s trade policy.