The Comprehensive Economic and Trade Agreement (CETA) is a free-trade agreement between the European Union (EU) and Canada. The text of the agreement contains provisions that cover a wide range of trade issues, including tariffs, customs procedures, and intellectual property rights.
The CETA text is an extensive document that has been negotiated over the course of several years. The agreement was finally signed in 2016, and it came into provisional effect in September 2017. The goal of the agreement is to remove barriers to trade between Canada and the EU, increase investment, and stimulate economic growth.
One of the key provisions of the CETA text is the elimination of tariffs on a vast majority of goods traded between Canada and the EU. This means that companies on both sides of the Atlantic will have more opportunities to sell their products in each other`s markets, which will help to stimulate economic growth.
Another important aspect of the CETA text is the provisions related to intellectual property rights. The agreement includes provisions that protect trademarks, patents, and copyrights, which will help to ensure that businesses can operate without fear of infringement.
In addition to these provisions, the CETA text also includes provisions related to labor and environmental standards. The agreement includes a commitment by both sides to uphold high labor and environmental standards, which will help to ensure that workers and the environment are protected in the context of increased trade and investment.
Overall, the CETA text is a comprehensive agreement that has the potential to significantly boost trade between Canada and the EU. By eliminating barriers to trade, protecting intellectual property rights, and upholding high labor and environmental standards, the agreement will help to create a more level playing field for businesses on both sides of the Atlantic. As such, it is an important step forward for international trade relations and a positive development for the global economy.