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Canada, U.K. using CETA as new trade model

Long-heralded Comprehensive Economic Trade Agreement, or CETA, comes into effect Thursday
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British Prime Minister Theresa May meets with Prime Minister Justin Trudeau in his office on Parliament Hill in Ottawa on Sept. 18 (Sean Kilpatrick/The Canadian Press)

Those feeling anxious about the future relationship between the United Kingdom and the rest of the world could use a little predictability, and both Prime Minister Justin Trudeau and British Prime Minister Theresa May say Canada can help.

The two countries are working towards a new bilateral free trade deal to take effect after the U.K. achieves its so-called Brexit from the European Union, the two world leaders revealed this week.

What香蕉视频直播檚 more, they said, the template for that deal would be the long-heralded Comprehensive Economic Trade Agreement, or CETA, between Canada and the EU that comes largely into effect Thursday.

香蕉视频直播淭here is no question that CETA, which eliminates well over 90 per cent of all barriers to trade between Canada and the European Union 香蕉视频直播 will make an excellent basis for ensuring a smooth transition in a post-Brexit world,香蕉视频直播 Trudeau told a joint news conference.

香蕉视频直播淎fter that, there will obviously be opportunities for us to look at particular details that could be improved upon for the specific needs and opportunities in the bilateral relationship between the U.K. and Canada.

香蕉视频直播淏ut as a strong basis for a smooth transition, CETA is perfectly designed, and will be able to ensure 香蕉视频直播 for investors, for companies and for workers and consumers 香蕉视频直播 a smooth transition.香蕉视频直播

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The British prime minister agreed that using the Canada-EU agreement as the basis for a forthcoming new bilateral deal makes sense for everyone.

香蕉视频直播淲e want to ensure that for businesses and individuals, that there is as smooth a changeover, when the United Kingdom leaves the European Union, as possible; we want to see as little disruption to economies and to people香蕉视频直播檚 lives,香蕉视频直播 said May.

香蕉视频直播淭hat香蕉视频直播檚 why we believe it makes sense to take the trade agreement 香蕉视频直播 which the U.K. is part of, it香蕉视频直播檚 part of the European Union 香蕉视频直播 with Canada, and say that that is the basis at that point at which we leave for a bilateral relationship with the U.K. and Canada.香蕉视频直播

May said she has already discussed the approach with the European Union.

The Canada-EU trade deal took seven years to come together 香蕉视频直播 including some tense eleventh-hour negotiations with Wallonia, a tiny region of Belgium that ended up holding a deal-killing veto over the pact 香蕉视频直播 but Trudeau suggested things would move more quickly this time.

香蕉视频直播淲ithin the European Union, the U.K. is the largest trading partner that Canada has, so the U.K. was deeply involved throughout those negotiations towards CETA, obviously, over the past seven years,香蕉视频直播 Trudeau said.

香蕉视频直播淚t will form the basis for the way we move forward in a post-Brexit Europe.香蕉视频直播

May also spoke of working 香蕉视频直播渟wiftly.香蕉视频直播

The U.K. is Canada香蕉视频直播檚 fifth-largest merchandise trade partner, amounting to more than $25.3 billion in both directions last year.

The trade deal, however, was not the only headline-making development out of May香蕉视频直播檚 first official visit with Trudeau, who took the opportunity to ramp up his government香蕉视频直播檚 fight with U.S. aerospace giant Boeing.

The Liberal government, Trudeau said, won香蕉视频直播檛 do business with a company he accuses of attacking the domestic aerospace industry and trying to put people out of work.

Boeing launched a trade dispute with Montreal-based rival Bombardier earlier this year.

May also has a stake in the dispute, as Bombardier has a factory in Northern Ireland.

The two leaders met Monday ahead of Trudeau香蕉视频直播檚 trip to New York to address the United Nations General Assembly, where May will also be speaking this week, including on ways to curb the use of the Internet by terrorists.

Joanna Smith, The Canadian Press

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