Six years after its provisional entrance into force, the outcome of the EU-Canada economic and trade agreement (CETA) is clearly positive for both the Union and Canada, with a significant increase in trade of goods and services. For example, exports of goods from the Union to Canada increased by 47% between 2017 and 2022. Besides, the European Commission estimates that almost 75,000 jobs depending on trade have been created since CETA came into force. CETA also facilitates access to critical raw materials, which are vital for the Union’s ecological transition and technological ambitions.
However, only 17 out of 27 member states have ratified CETA, and thus, the agreement has not yet taken full effect.
This is why, in the report drafted by S&D MEP Javier Moreno Sanchez and approved today by the plenary, the European Parliament is calling on the remaining 10 member states* to ratify CETA as soon as possible. Once this done, we can go even further to ensure the highest standards of trade and sustainable development - through the so called Trade and Sustainable Development review - to further strengthen labour and environmental rights.
Javier Moreno Sanchez, S&D MEP and the European Parliament rapporteur on CETA implementation, said:
“There were many worries about the CETA agreement, but 6 years after it entered into force provisionally in 2017, we can now say that it has only strengthened our relationship with Canada and helped us through the global turmoil of recent years. From Covid-19 to the war against Ukraine, having CETA in place helped maintain robust supply chains which helped both economies.
“However, we can and should benefit from CETA even more! First, we must increase the visibility of CETA through information campaigns, in particularly to help SMEs maximise the opportunities they could have under CETA.
“This agreement is so much more than a trade agreement, strengthening our political ties, and promoting gender equality and climate ambitions. However, it could and should promote even further the trade and sustainable development provisions, the S&D Group’s top priorities.
“Therefore, CETA should be fully ratified as soon as possible by the remaining 10 member states so that we can further work with our Canadian partners to update CETA to face the challenges of tomorrow, especially when it comes to implementing the highest standards in climate, environment or labour rights. Our Canadian partners are willing to do this for their part. Europe must not drag its feet.”
Note to editors:
*The 10 remaining member states that have not yet ratified CETA are: Belgium, Bulgaria, Cyprus, France, Greece, Hungary, Ireland, Italy, Poland and Slovenia.
