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Canada walks out of trade talks with 'incapable' EU
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| Contributor | IndyGeorgia |
| Last Edited | IndyGeorgia Oct 21, 2016 04:05pm |
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| Category | News |
| Author | Philip Blenkinsop |
| Media | News Service - Reuters |
| News Date | Friday, October 21, 2016 07:00:00 PM UTC0:0 |
| Description | Canada's trade minister walked out of talks in Belgium on Friday, declaring that the European Union was incapable of sealing a planned transatlantic free trade deal designed to boost growth in both economies.
All 28 EU governments support the Comprehensive Economic and Trade Agreement (CETA), but Belgium cannot give assent without backing from its five sub-federal administrations, and French-speaking Wallonia has steadfastly opposed it.
The agreement, the EU's first with a G7 country, would according to supporters increase trade between the partners by 20 percent, boosting the EU economy by 12 billion euros ($13 billion) per year and Canada's by C$12 billion ($9 billion).
A visibly shaken Chrystia Freeland, Canada's trade minister, emerged after a full day of talks with chief Canadian and EU trade negotiators and Walloon Premier Paul Magnette.
"Canada has worked, and I personally have worked, very hard. But it is now evident to me, evident to Canada, that the European Union is incapable of reaching an agreement – even with a country with European values such as Canada," she said.
"Canada is disappointed and I personally am disappointed, but I think it's impossible," she continued, adding she was heading home.
A source in the EU's executive European Commission said it had not yet given up hope of reaching a deal. Separately, EU trade commissioner Cecelia Malmstrom said in a tweet she was sad talks had halted, but still hoped to find a solution. |
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