European Union, Canada sign trade agreement known as CETA |

European Union, Canada sign trade agreement known as CETA

The European Union and Canada signed the Comprehensive Economic and Trade Agreement known as CETA on Sunday, CNBC reported. The signing is an important step, but the parliaments of the EU member countries must approve it. CETA is seen as a partial model for the Trans-Atlantic Trade and Investment Partnership agreement that the United States and the European Union are trying to negotiate.

CETA contains a provision on geographical indicators that would protect some EU product names and limit the Canadian dairy industry’s use of them. The European Commission noted the geographic indicator provision in its news release.

But farmers in Wallonia, a province of Belgium, threatened to stop the deal over concerns about farm imports. The Belgian government offered protections to the farmers in order to convince Wallonia to withdraw its veto, The New York Times reported.

–The Hagstrom Report

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