The Comprehensive Economic and Trade Agreement (CETA) between Canada and the European Union and its member states: implementation process and discussion of the economic changes it brings.

Abstract

The present study aims to present the process followed by Canada and the EU in order for them to implement the Comprehensive Economic and Trade Agreement (CETA) as long as the bilateral economic amendments that may occur. Moreover, it documents the procedure from the beginning of the bilateral dialogue and the initiation of the treaty, through the negotiations on diplomatic and political level to the final text of the treaty and its ratification by the EU legislative bodies and the national parliaments, as well as the joined committees, which aim at the better implementation of the agreement. The second part of the study focuses on the trade deal itself and the economic ties which unite the EU and Canada, the trade barriers and the respective facilitation, including the benefits of the treaty for both sides and all stakeholders, regarding customs tariffs, subsidies, the protection of investments and labour as well as the benefits for the enterprises. Criticism against CETA is also included, as the treaty is accused of threatening public goods, lack of public scrutiny and that it may jeopardize the investment arbitrations. To summarize, the importance of this study lies in the analysis of the implementation of a common policy regarding trade in the complex functional environment of the EU, which is the world’s largest trading block, as well as in the collaboration of all EU member states as an entity against third parties.