McClarkin: CETA deal a landmark for free trade

24-Jan-2017 @ 13:45

Emma McClarkin Emma McClarkin

Emma McClarkin Emma McClarkin

Emma McClarkin Emma McClarkin

McClarkin: CETA deal a landmark for free trade

Conservative International Trade spokesman Emma McClarkin MEP has welcomed a vote which moves the landmark EU-Canada trade deal a step closer to implementation.

Ms McClarkin said today's approval by the European Parliament's International Trade Committee would help restore the EU's reputation as a reliable trading partner after the deal, known as CETA, was held up by socialist politicians in the Belgian region of Wallonia.

"This is one of the highest quality agreements ever negotiated and clearly highlights the benefits of free trade, " she said.

"CETA will eliminate 99 per cent of tariffs between the EU and Canada, save EU exporters €500 million a year and increase trade by 20 per cent. Britain alone will benefit by £1.3 billion a year.

"It took the EU far too long to reach this stage and hopefully lessons have been learned about how future trade deals should be conceived, negotiated and ratified."

The committee today voted 25 to 15 in favour of CETA with one abstention. The deal now goes to the full Parliament in February.

Once the agreement is fully implemented, around 92 per cent of EU agriculture and food products will be exported to Canada tariff-free.

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