comprehensive economic & trade agreement (ceta): main aspects of it and what’s in it?
TRANSCRIPT
Comprehensive Economic & Trade Agreement (CETA):Main aspects of it and what’s in it?
Presented on May 8th 2015 Avrio Advocati Bi-annual Conference -New York City (USA)
Some Statistics:Canada & Europe Trades Summary
- In 2014, Canada was EU’s 12th most important trading partner;- EU is Canada 2nd most important trading partner;- Total value of bilateral trade €59,1 bn in 2014;- Machinery, transport equipment & chemicals;- €28,8 bn trade in services;- Investment from EU investors in Canada in 2013: €224.2 bn;- Investment from Canada in EU in 2013: €117.0 bn.
Agreement in Principles:The Exact Status of CETA
The text of the agreement will undergo a legal scrubbing followed by a translation into all official languages of the EU. At a later stage, the agreement will need to be approved by the Council and the European Parliament and the Canadian government (ratification)
What’s in it:Main Aspects of it
- Elimination on tariff on goods- Elimination of technical barriers- Faster entry of goods- Investment protection- Services- Government procurement- Intellectual property- Dispute Settlement- Rules of origin- Labour mobility & recognition
What’s in it:Elimination of Tariffs on Goods
- Élimination of 98% of EU tariffs on Canadian goods;- The remaining will be eliminated over a period of 7 years;- Strict rule of origin
What’s in it:Elimination of Technical Barriers
- Recognition / Uniformisation of :- Labeling;- Product testing & certification;
What’s in it:Investment Protection
- Investors vs. State dispute settlement process;- Protection from discriminatory or arbitrary government actions;
- Investors may receive compensation.
What’s in it:Services
- Better access to individual markets;- Common regulation of licensing and qualification criterions;- Mutual recognition of professional qualifications to facilitate
the entry for highly skilled workers;
What’s in it:Government Procurements
- Business will be able to participate in the government market;- Only high value procurements contracts with a threshold value
(Allowing government to support local development);- Excluded/Closed industries: cultural, R&D, defines,
recreation & sports, education and social, health care
What’s in it:Intellectual Property
- Extended patent for pharmaceuticals ( 8 years +2);- Better counterfeiting laws;- Harmonisation of Trademark laws;- Wider recognition of EU geographical indication on certain food;
What’s in it:Labour & Mobility
- Intra-company transferees (the lesser of 3 years or the length of the contract;
- Contract suppliers & independant professionnels;- Intra-company trainees & investors (1 year or the term
of the contract);- Short term business visitors (90 days within 6 month
period)
What’s Next?We are here to support
Christian Saraïlis Esq. LL.B, lawyer(Business law, Intellectual Property Law & Commercial Litigation)
http://www.sarailis.caTel.: +1(418) 780-3880 ext. 201
Quebec City, Canada