The European Union’s hopes of signing a free-trade agreement with Canada is on a knife-edge after Belgium announced that it could not sign the treaty due to the opposition from regional parliaments. The Belgian prime minister, Charles Michel, has announced that Belgium is not ready to sign the EU-Canada trade pact, after the emergency talks between the country’s federal and regional leaders.
The European deal would have given the Canada, preferential access to a market of 500 million people, more than the North American Free Trade Agreement (NAFTA), at a time when the U.S. – Canadian partnership is under severe pressure.
“We are one of the most dependent countries in the world in regards to trade,” said former Quebec Premier Jean Charest, who has initiated negotiations for the EU-Canada trade deal during his tenure. “If this agreement fails, it will be a disappointment,” he said.
Despite the Belgian stalemate, Canada’s prime minister, Justin Trudeau, has not postponed the trip to Brussels, where he is due to sign the treaty. Donald Tusk, the head of the European council, said that he and Trudeau think the summit is still possible. “We encourage all parties to find a solution. There’s yet time,” Tusk tweeted after speaking to the Canadian leader.
Manfred Weber, the leader of the centre-right European People’s party, said that the trade deal is not dead. “Everything should be done to make it enter into force. All concerns have been tackled. Everyone should help.”
The EU and Canada have spent more than seven years preparing for the Comprehensive Economic and Trade Agreement (Ceta), but the treaty has stumbled near the finish line due to the opposition from the Socialist-led parliament in Wallonia. The trade treaty would have eliminated nearly all the tariffs between the EU and Canada.
By Premji
