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EU-Canada Trade Deal Moves Closer to Final Approval

by VOA News

   Belgian politicians agreed to a deal Thursday to support a free trade
   agreement between the European Union and Canada after overcoming
   opposition from one region in Belgium, paving the way for the signing
   of a landmark deal within days.

   Belgian Prime Minister Charles Michel told reporters the agreement was
   reached after the Socialist-controlled, French-speaking region of
   Wallonia decided to join Belgium's other regional parliaments and give
   its approval.

   Wallonia agreed to support the trans-Atlantic trade deal after
   guarantees were provided for farmers and on a corporate dispute
   settlement system. The revised deal will go through Belgium's regional
   legislatures by Friday night.

   The agreement is a big relief to EU leaders, who have been negotiating
   the pact with Canada for seven years

   What happens next ?
   All 28 EU members must sign off on the Comprehensive Economic Trade
   Agreement for it to take effect. The members are expected to formally
   approve the agreement in coming days.

   The collapse of the deal would be yet another negative signal to world
   leaders trying to open trade borders. Like others around the world,
   Wallonia politicians previously said the agreement would undermine
   labor and environment and consumer standards. Wallonia was also
   concerned the local meat industry would be hurt by a surge in Canadian
   pork and beef imports.

   Wallonia leader Paul Magnette said Thursday the deal was worth fighting
   for and would set a strong precedent for other trade negotiations
   between Europe and other trading partners like the U.S. or Japan.

   "Wallonia is extremely happy that it's demands were heard. We always
   fought for treaties that strengthen social, environmental norms and
   protect public services," Magnette said.

   Similar fears have threatened to derail the Trans-Pacific Partnership,
   or TPP, which has been agreed to but not yet ratified by the U.S.,
   Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand,
   Canada, Mexico, Chile and Peru.

   U.S. Republican presidential nominee Donald Trump, who has called the
   North American Free Trade Agreement between the U.S., Mexico and Canada
   one of the worst deals ever signed, says he would never back the TPP.
   Democratic candidate Hillary Clinton, who initially supported TPP, said
   she opposed it once she learned the full terms of the deal.

   The failure of the Canadian-European trade deal would also complicate
   similar negotiations with the U.S., Japan and other countries as a wave
   of populist parties around the world challenges the perceived benefits
   of free trade.