The EU-Canada Comprehensive Economic and Trade Agreement (CETA), also known as the EUCA Agreement, is a free trade agreement between the European Union and Canada. It was signed in 2016 and is considered one of the most comprehensive trade agreements in history.
CETA aims to eliminate tariffs on 98% of goods traded between Canada and the EU. This will create new opportunities for businesses on both sides of the Atlantic and is expected to increase trade by over 20 billion euros per year.
The agreement also includes provisions on intellectual property rights, investment protection, and public procurement. These provisions aim to promote innovation and protect the interests of businesses and consumers.
CETA has been praised by many as a landmark agreement that sets a new standard for international trade. It has been hailed as a win for free trade and economic cooperation, and is seen as a potential model for future trade agreements.
However, the agreement has also faced criticism from some quarters. Critics argue that CETA gives too much power to corporations, and that its provisions on investment protection could undermine national sovereignty. There have also been concerns about the impact of CETA on workers` rights and the environment.
Despite these criticisms, CETA remains a significant achievement in the history of international trade. It has the potential to create new economic opportunities for millions of people, and could help to shape the future of global commerce. As such, it is likely to remain the subject of much debate and discussion in the years to come.
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