Canada-EU Free Trade Agreement

On Friday Oct. 18 Canadian PM Harper announced a free trade agreement with the European Union (EU) at a press conference in Brussels. It is called the Comprehensive Economic and Trade Agreement (CETA), which promises to “eliminate thousands of tariffs, encourage foreign investment and promote movement of labour.” 98 percent of Canadian and EU tariffs are expected to be removed when the new agreement comes full circle. The deal won’t take affect until all 28 EU member states as well as all of Canada’s provincial governments approve the terms of the agreement. EU President Manuel Barroso said the deal would be fully implemented by 2015.

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