On Friday 16 September, European and Canadian services industries, represented respectively by the European Services Forum and Canadian Services Coalition, called for rapid signature, ratification and implementation of the EU-Canada free trade deal (CETA).
The two associations argue that CETA will help boost trade and investment between the EU and Canada, stressing that trade in services accounted for more than 28% of bilateral EU-Canada trade in 2015 (with a volume of $31.2 billion, nearly €27 bn) and the services sector contributed half of the $465 billion (€415 bn) of foreign direct investment between the two partners in 2014.
"CETA is balanced and extremely positive for Canada’s and Europe’s economies which rely on open markets and trade. CETA is a comprehensive agreement that provides for ambitious and balanced market access in key areas of interest to our businesses, including cross-border trade in services, temporary entry and stay of business persons, and access to investment in services sectors", the two associations state.
They go on: "This progressive agreement further includes legitimate protections of public services for both parties. The CSC and ESF welcome the adoption of the negative list approach which provides full transparency of the level of openness and gives concrete information to services providers on remaining restrictions".
In addition, "CETA is forward-looking in important fields such as public procurement, increasing access to procurement by all public entities in EU member states and at Canada’s provincial and municipal levels. CETA is also a pioneer in encouraging deeper regulatory cooperation among regulators. It sets an important precedent by creating a framework to integrate mutual recognition agreements for licensing and qualification procedures in professional services".
The two associations "have no doubt that enterprises, workers and consumers from both sides of the Atlantic will benefit from CETA once implemented. Small and medium-sized enterprises in particular will reap great benefits from improved access to public procurement and a reduced regulatory burden". They add: "CETA is the right instrument for Canadian and European trade and investment policies to deliver concrete results, re-commit to the principles of openness and boost confidence and stability across our regions". (Original version in French by Emmanuel Hagry)