European Parliament approves trade deal with Canada

Members of the European Parliament voted Wednesday in favour of a comprehensive trade deal with Canada

"This leaves us with much to worry about in any future trade deals the government negotiates, in particular with Donald Trump's U.S.".

The deal was not resoundingly endorsed by the European Union parliament, with 58 percent of its members supporting CETA after a boisterous debate that saw tempers flare repeatedly.

Supporters claim the pact will be worth £1.3bn (C$2.1bn) a year to Britain alone, in the period before the United Kingdom withdraws from the EU.

EU Commission President Jean-Claude Juncker, however, welcomed the deal: "Today's vote by the European Parliament is an important milestone in the democratic process of ratification of the agreement reached with Canada and it also allows for its provisional entry into force".

Guy Taylor, a trade campaigner for Global Justice Now, told Sputnik that "We'll have to see what happens but I think there's every chance one of the major states could reject it and that would be curtains for CETA". Ceta has been described as the little brother of equally opposed US-EU trade deal "TTIP", which looks to have collapsed following widespread opposition previous year.

Police reported 700 people protested.

The activists tried to enter the European Parliament building but were prevented from doing so by police.

By 408 votes in favor, 254 against and 33 abstentions, the eurodeputies accepted the deal known as CETA. However, CETA will also need to be ratified by national and regional parliaments.

Prime Minister Justin Trudeau is set to address the legislature on Thursday - a first for a Canadian leader - and to address top business leaders a day later in Germany. It is now their job to defend the agreement in front of their own parliaments.

It took eight years to get to this point - negotiations began in 2009, and it will be at least until April 1 before the deal takes effect, an European Union press release stated.

The political confusion around FTAs [editor's note: "free trade agreements] has bottomed out", he said.

Approval of the measures by the EU Council would be expected tighten the rules on the EU ETS, bringing in a more rapid removal of surplus allowances from the system which could raise the cost of emitting Carbon dioxide for Europe's power plants, airlines and operators of refineries, metals and chemical manufacturing plants, among others.

Related:

Comments

Latest news

Ten tips that help to win
Tip # 2 You need to find out as much information as you can on the online casino before you will give away your money. Unlikely you will want to swim in the dark pond if you have no idea what is waiting for you below the surface.

Prince, George Michael remembered, Adele, Bowie win big at Grammys
Although there were some issues, Adele ended up powering through the tribute and she put on a flawless performance. She apologized for cursing earlier in the show during a tribute to the late George Michael.

Allergan to buy Zeltiq for about US$2.48B
Botox maker Allergan is spending about $2.48 billion to buy Zeltiq Aesthetics Inc . and its CoolSculpting system for reducing fat. Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of ZELTIQ Aesthetics, Inc .

Taco Bell to offer wedding packages, marry customers at Las Vegas location
Starting this summer, lovebirds wanting to tie the knot in Las Vegas will have another wedding venue to chose from - Taco Bell. In case you're assigning bragging rights, Taco Bell is not the first restaurant chain to offer an cheap wedding in Las Vegas.

Other news