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May 18, 2017
Canada-EU free trade agreement gets Senate approval, Royal Assent
The Canadian Senate voted last week in favour of Bill C-30, the law that will implement the Comprehensive Economic and Trade Agreement (CETA) between the European Union (EU) and Canada. Official Royal Assent was then given on May 16.
The European Parliament voted in favour of the agreement in February authorizing the provisional application of CETA in Europe. Certain elements will have to be approved by each member country of the European Union but both sides have agreed to a provisional application of the main parts of the agreement.
Officials in Canada and the EU are now working on several regulations that will need changes on both sides of the Atlantic before the application of CETA can begin. Once this is done, virtually all of the economically significant parts of the agreement - including tariffs, quotas, service commitments, temporary entry commitments and government procurement obligations - will be applied.
The remaining elements of CETA, including provisions related to investment protection and dispute resolution, will be applied once all EU member states have ratified the Agreement, and it is fully brought into force in Canada and the EU.
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