CETA on life support because of Brexit

ca_eu_ceta1-1The Brexit vote has left Europe in a mess – and dealt a serious blow to Canada’s trade prospects. (CETA, Canadian fishery issues, click here) The British pound is dropping, world markets are scrambling and most are wondering how the political establishment will address what appears to be a constitutional vacuum related to exiting member-states of the European Union. It speaks to how ill-prepared the union was to such an eventuality. Yet the biggest casualty of Brexit will likely be global trading. And Canada may pay a huge price, since our Comprehensive Economic and Trade Agreement (CETA) with the EU is still under negotiation and won’t be ratified any time soon. And with so much uncertainty in agricultural policies particularly, CETA is undoubtedly on life support, at best. CETA emphasizes Canada’s relationship with the EU and was Canada’s greatest chance to become a significant portal between both continents. The United Kingdom is one of our top food trading partners within the EU and there was great potential to further increase trade in certain commodities.  Read the rest here 13:55

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