Brussels, 11/06/2009 (Agence Europe) - Meeting in Montreal, Canada, on 10 June 2009, EU Trade Commissioner Catherine Ashton and Canadian Trade Minister Stockwell Day opened negotiations over a complete economy and trade agreement (CETA) between the EU and Canada, which could come into force in the next two years. The decision was taken at the Prague summit of 6 May 2009 (see EUROPE 9897) to hold the first round of talks, which will take place in October 2009. The ambitious CETA foresees full liberalisation of trade in goods and services, better market access, investment, improvements to competition rules and bilateral trade in goods and services that could rise at high as €90 billion a year, explained Commissioner Ashton. She said CETA aimed to establish a transatlantic partnership to stimulate investment, open up public markets, protect intellectual property and encourage cooperation on the environment and social issues. Some 6% of Canada's goods exports go to the EU and 78% to the United States. Some 54% of Canada's imports come from the United States. Canada has been trying to sign a trade deal with the EU for 30 years now. The new agreement should enable Canada to increase its exports to the EU to 20%. As far as Canada is concerned, CETA would be profitable for all areas of Canadian industry, including airspace, chemicals, timber, cars and farming. Stockwell Day admitted, however, that sensitive issues might emerge in the talks on the opening up of some industries but said that Canada would be taking an overarching approach and he did not want to put any pressure on the upcoming series of talks. Commissioner Ashton added that there would not be any limits on the talks. Stockwell Day said the idea of negotiating a new trade pact with Canada had been boosted by the signing of a free trade deal in 2008 between Canada and EFTA (Iceland, Norway, Switzerland and Liechtenstein) that scrapped customs duty on all non-farm products and reduced or removed duty on some agri-food products. (E.H./transl.fl)