Belgian regional leaders drop opposition to EU-Canada trade treaty

Belgium’s prime minister, Charles Michel, has confirmed that the leaders of five Belgian regional parliaments have reached an agreement with the federal government, overcoming their objections to the trade deal between the European Union (EU) and Canada. Canada’s foreign minister Stéphane Dion has indicated that he is now “prudently optimistic” that the treaty could be signed.

The EU and Canada have been negotiating over the Comprehensive Economic and Trade Agreement (Ceta) for the past seven years. If CETA finally does pass the finish line it will would abolish most tariffs between the EU and Canada.

UPDATE ON 1 NOVEMBER 2016

Canada and the EU signed the CETA on 30 October. In a statement posted its Europa website, the EU said: “CETA will bring tangible benefits to European companies by getting rid of 99% of tariffs, in most cases as soon as the deal comes into effect. As of the first day of its implementation, Canada will eliminate duties worth €400 million for goods originating in the EU. At the end of transitional periods for duty elimination, that figure will rise to more than €500 million a year.”