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What Is Canada Style Free Trade Agreement

Canada`s agreement would involve border controls between the UK and the EU and would cover only trade and not the services sector – a large part of the UK economy. „A free trade agreement like the one between the EU and Canada will pose a lot of challenges for the UK,“ said David Henig, former UK trade officer and director of the European Centre for International Political Economy. „There is not much about services compared to World Trade Organization rules.“ Canadian trade commissioners advise exporters, partners and investors with competence and competence. The EU does not have a free trade agreement with Australia. They are negotiating for one, but they are currently working mainly under World Trade Organization (WTO) rules. CETA entered into force provisionally on September 21, 2017, meaning that most of the agreement is now in force. In a speech in London on Monday, the Prime Minister is expected to set out his demands for upcoming negotiations with Brussels and confirm that he wants to reflect Canada`s free trade agreement, according to the Times. Canada`s free trade agreement with the EU is known as the Comprehensive Economic and Trade Agreement (CETA) and lasted seven years before negotiations took place. It came into force in 2017 and will be fully implemented within seven years. The legal architecture of the future agreement with the United Kingdom is not yet clear. Depending on the ambition of the final agreement, it may affect certain sectors, such as transport or the environment, in which the EU must involve some 40 national parliaments in the ratification process.

In briefings for EU diplomats, the European Commission said it was not yet certain that the Brexit deal would be as „mixed“ as with Canada. On the other hand, there is political will. While the EU has focused on the risks of the brutal timing, both sides want to avoid a disastrous stumbling block of tariffs and trade barriers from January 2021. Much will depend on the UK`s willingness to accept the price of its access to the EU market. One of the EU`s main fears is that after Brexit, Britain could be an easy regulatory competitor to the EU.

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