Green light for CETA from Flanders

  • September 16, 2016
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On 16 September, the Government of Flanders authorized the signing of the free trade and investment agreement between Canada and the European Union (CETA). The signing should take place during the EU-Canada summit on 27 October 2016.

The negotiations on the Comprehensive Economic and Trade Agreement were launched in 2009 and completed in the summer of 2014. The past 2 years the agreement was legally scrubbed and a new type of investment dispute resolution was introduced. Ad hoc arbitration will be replaced by an Investment Court System with judges appointed by the EU and Canada.

Thanks to CETA 99% of custom tariffs will disappear as well as many technical and non-tariff barriers. European and Canadian services markets will be open to one another, with the exception of cultural, audiovisual and public services, such as education and the health sector. In addition, Canadian public procurement will be liberalized on all administrative levels, which enables Flemish companies bidding on public tenders, for example in Quebec and British Columbia. Canada and the EU also agreed on an ambitious chapter focussed on sustainable development.

Minister-president Geert Bourgeois: "This mandate reaffirms the full support of the Government of Flanders for CETA. For Flanders, this trade and investment agreement with Canada is extremely important.  In 2015 Flemish export in goods to Canada topped 1.75 billion. Flanders could count on six new Canadian investments last year. Our businesses -. also SMEs and the agricultural sector - will benefit from this. "