EU, Canada take a big step towards shaping globalisation

ON Oct 30, the European Union and Canada signed a trade agreement known as the Comprehensive Economic and Trade Agreement or CETA. This is widely regarded as the most advanced free-trade agreement (FTA) ever negotiated. Both Canada and the EU are committed to bringing CETA into force as soon as possible.

The signing of CETA is a historic occasion that promises benefits to about 550 million EU and Canadian citizens. The deal will create jobs and growth by boosting trade and strengthening economic relations on both sides of the Atlantic.

Canadian Prime Minister Justin Trudeau rightly notes that this will "create vast new opportunities for Canadians and Europeans alike". Among its many benefits is the opening up of new markets "for our exporters, offering more choices and better prices to consumers, and forging stronger ties between our economies", said Mr Trudeau.