Canada EU trade deal – Bharat Pulse News

Canadian Prime Minister Mark Carney has urged European Union countries to complete ratification of the Canada-EU trade agreement as Ottawa accelerates efforts to diversify its economic relationships amid growing strains with the United States. Carney Pushes Full Ratification of Canada-EU Deal The Comprehensive Economic and Trade Agreement, or CETA, has been provisionally applied since 2017 but has still not been fully ratified by all 27 EU member states. Seventeen countries have completed ratification, leaving 10 yet to approve the agreement. Carney is pressing those governments to move forward, arguing that closer economic ties would make both Canada and Europe more resilient at a time of increasing global trade tensions and geopolitical uncertainty. The agreement has already eliminated most tariffs between Canada and the EU, while providing greater access to goods, services and government procurement markets. Canada Accelerates Economic Pivot From US Ottawa’s European push comes after Canada suspended trade negotiations with the United States in August. Carney said proposed last-minute changes to Washington’s terms were unfair and failed to provide sufficient economic certainty for Canadian businesses. The United States remains overwhelmingly Canada’s largest export market, making diversification a long-term challenge. Carney’s government has set a goal of substantially increasing Canadian exports to markets outside the US. Canada and EU Explore Deeper Partnership Carney is visiting Strasbourg and the United Kingdom as part of the wider European outreach and is scheduled to address the European Parliament. Canada and the EU are also exploring greater cooperation in defence, artificial intelligence, critical minerals, energy and investment. Ottawa has stressed that it is seeking a distinctive strategic partnership with Europe rather than full EU membership. The initiative represents one of Canada’s most significant attempts in decades to reduce its heavy economic dependence on the United States.

Carney Pushes EU to Finalise Canada Trade Deal

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