Comprehensive Economic and Trade Agreement (CETA) and Multi-Level Governance [article]

Amir Rafiq, University Of Calgary, University Of Calgary, Beverly G. Dahlby
In August 2014, after years of negotiations, Canada and the EU finally concluded negotiations for a Comprehensive Economic Trade Agreement (CETA) at the Canada-EU Summit in Ottawa and on October 30, 2016, this historic agreement was signed in Brussels. On September 21, 2017, the Comprehensive Economic Trade Agreement (CETA) became effective provisionally. The CETA is a momentous agreement. The agreement marks the era of Canada's "enhanced trade" with the world's second-largest marketplace and
more » ... s first free-trade agreement (FTA) across the Atlantic. Although the Canada and EU share tight historical, cultural and political ties, the CETA will bring both trading blocks even closer. The CETA has the potential to open access for future Canadian trade agreements with other countries across the Atlantic region and beyond. The CETA also represents a drive of Canada towards involving in trade agreements with large and evolving economies. Canada had achieved little prior to the CETA, since the North American Free Trade Agreement (NAFTA) to gain access to world markets and increase trade with large emergent economies. With the ratification of the CETA, Canada now has a progressive agreement, broader in scope than that of NAFTA which translates into the appropriate level of open and transparent process and supporting ongoing dialogue and related activities.1 The gains from CETA will depend on how the Canadian private sector and the Canadian provinces, territories and municipalities respond in the context, where each province exercises its legislative powers granted under the Canadian Constitution Act. This capstone report will address these concerns. To do so, this capstone overviews Canada-EU historical relations, analyzes the provisions of the CETA, examines the macroeconomic outcomes of the CETA for both Canada and EU, and the multi-level governance issues due to sharing of legislative powers between the provinces and the federal government. The capstone looks closely at the impacts of bilateral trade, tariff and non-tar [...]
doi:10.11575/prism/34941 fatcat:glofphq3hbaphjlyg3yjc4dkaa