The EU’s leading officials and Canada’s  prime minister have agreed to launch a process that could lead to the establishment of a wide-ranging economic partnership. Prime Minister Stephen Harper and President Nicolas Sarkozy of France signed an agreement on the 17th of October to begin negotiations for a free trade pact between Canada and the European Union. Two-way trade is estimated to increase 22.9% by 2014.

At a news conference, Mr. Harper said, “We must stand against protectionism and work to lower and eliminate barriers.”

The trade agreement is likely to include issues such as improving bilateral investment, labour mobility, technological co-operation, intellectual property protection and the controversial issue of opening up procurement tenders by provincial governments to outside competition.

Therefore, the proposed partnership would go a great deal further than the North-American Free Trade Association, (NAFTA). In addition to allowing free trade in goods and services, it would harmonize regulations, and open up the air-travel market; “open skies”. It would also free the labor market allowing skilled workers to travel across the Atlantic.

Negotiations will start sometime in 2009 after a preliminary study is completed, Canadian Prime Minister Steven Harper, European Commission President José Manuel Barroso and French President Nicolas Sarkozy agreed on 17 October.

Sources:

http://www.europeanvoice.com/article/canada,-eu-move-toward-deeper-partnership/62750.aspx>

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