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#CETA: Council adopts decision to sign EU-Canada trade agreement

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161021ceta2Today (28 October), the Council adopted by written procedure a package of decisions on the comprehensive economic and trade agreement with Canada (CETA), including: a decision on signature of the agreement; a decision on the provisional application of the agreement; and, a decision to request the consent of the European Parliament for the conclusion of the agreement.

The representatives of the member states also adopted a joint interpretative instrument, already agreed upon before the Wallonian impasse. This instrument, which is a joint text with Canada, will provide a binding interpretation of CETA´s terms on specific issues.

There is a joint declaration to clarify how the Investment Court System will be established and operate.

"I am delighted to confirm that the EU is ready to sign the comprehensive economic and trade agreement with Canada. It represents a milestone in the EU's trade policy and our commitment to it" said Robert Fico, Prime Minister of Slovakia, currently holding the EU Council presidency. "The CETA represents a modern and progressive deal, opening the door to new opportunities, while protecting important interests. Moreover, it has the potential to set the way forward for future trade deals."

President of the Wallonia Region, Paul Magnette, said that the region had won 'extraordinary power' and 'seized its chance'.

Background

On 5 July 2016, the Commission proposed that the deal be signed and concluded as a "mixed" agreement. This means that on the EU side, it must be signed by both the EU and the member states, and ratified by all relevant national and regional parliaments.

The agreement will be applied on a provisional basis once the European Parliament has consented to its conclusion, pending ratification by all of the member states. Provisional application will concern essentially the provisions of EU exclusive competence.

The Belgian region of Wallonia threw a spanner in the works by refusing to sign the agreement. After intense negotiations the Wallonians were given guarantees on the agreement including the possibility of having the

#CETA: Belgian region of Wallonia holds EU-Canada trade-deal ransom

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