The European
Union and Canada said on Saturday they had agreed to start a free trade
agreement on Sept. 21, paving the way for over 90 percent of the treaty to come
into effect.
The
Comprehensive Economic and Trade Agreement (CETA) has been championed by both
sides as a landmark deal for open markets against a protectionist tide, but
last-minute wrangles over cheese and pharmaceuticals were holding up its start.
"Meeting
at the G20 in Hamburg, reconfirming our joint commitment to the rules-based
international trading system, we agreed to set the date of 21 September 2017 to
start the provisional application of the agreement, thus allowing for all the
necessary implementing measures to be taken before that date," European
Commission President Jean-Claude Juncker and Canadian Prime Minister Justin
Trudeau said in a statement.
"It is
by opening up to each other, by working closely with those who share the same
values that we will shape and harness globalization," the joint
declaration said.
The
agreement will enter definitively into force once all 28 EU member states and
parliaments ratify it.
The EU had
not been satisfied that Canada would effectively open up its markets to 17,700
additional tonnes of EU cheese and provide guarantees for the patents of
European pharmaceuticals.
A spokesman
for Canadian trade minister Francois-Philippe Champagne said the allocation of
the cheese tariff rate quota would be made before the September deadline.
"So
what happens now is that both sides will complete their internal processes and
closely consult one another on how the agreement will be implemented.
This is
about ensuring a smooth transition to a strong start for CETA," the
spokesman said.
Both sides
had been hoping for the provisional implementation of the agreement this month.
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