Protecting farm produce and social standards
In talks, the EU secured protection for over 140 European geographical indications for food and drinks sold on the Canadian market. Sustainable development clauses were included to safeguard environmental and social standards and ensure that trade and investment enhance both.
To allay citizens’ concerns that the deal gives too much power to multinational companies and that governments will not be able to legislate to protect health, safety or the environment, the EU and Canada recognise in both the preamble to the deal and an attached joint declaration that its provisions apply without prejudice to the domestic right to regulate.
Exceptions
The CETA deal will not remove tariff barriers in the fields of public services, audiovisual and transport services and a few agricultural products, such as dairy, poultry and eggs.
More transparent investment protection
In response to European parliamentary pressure, the controversial investor-state-dispute settlement (ISDS) mechanism was replaced by the Investment Court System (ICS), which aims to ensure government control over the choice of arbitrators and enhances transparency.
EU-Canada Strategic Partnership Agreement
MEPs also gave their consent to the conclusion of an EU-Canada Strategic Partnership Agreement (SPA). Complementing the CETA, this deal aims to step up EU-Canada bilateral cooperation on a wide range of non-trade issues such as foreign and security policy, counter-terrorism, fighting organised crime, sustainable development, research and culture.
Full press release
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