CETA : a positive assessment for the European economy and trade

Renew Europe welcomes the adoption of the first implementation report on the Canada Comprehensive Economic Trade Agreement (CETA). The agreement, which is still under provisional application since 2017, has brought a positive impact on our trade levels with Canada despite the Covid-19 pandemic and Russia's aggression against Ukraine.

This agreement provides a valuable framework for strengthening European cooperation with Canada in various sectors and an opportunity to diversify our value chains and our supplies of energy and raw materials, such as via the EU-Canada Strategic Partnership on Critical Raw Materials and the CETA Joint Committee on Trade and Gender.

Renew Europe stresses the importance of completing the ratification of the agreement as soon as possible. This would allow a timely revision of the agreement to update and modernise in particular the trade and sustainability provisions.

Samira Rafaela (D66, Netherlands), member of the Committee on International Trade and shadow rapporteur for Renew Europe, said:

“This Agreement is a key example of how our trade agreements foster prosperity and job creation, particularly with a key partner like Canada. Especially the cooperation on trade and gender is an example of how we can work together on important topics such as the economic empowerment of women. When all Member States have ratified the agreement, the trade and sustainability provisions need to be updated so that also CETA is state-of-the-art when it comes to environmental and sustainability standards. In this update, a dedicated gender chapter should also be pursued to institutionalise the cooperation on trade and gender related issues. I am certain that CETA is an excellent case in point of what rules- and values-based trade look like.”