CETA Deal Could Fall Apart Under Pressure of Brexit
SEAFOODNEWS.COM By John Sackton - July 5, 2016
The EU Commission is to decide today how the free trade deal between the EU and Canada will be ratified. Since the Brexit vote, the conditions have shifted markedly.
Until recently, this was considered a done deal that would give a significant boost to Canadian exports, particularly of shrimp, lobster and crab. Now the deal may not happen as the EU struggles with the aftermath of the Brexit vote.
One proposal is for the deal to take effect if it is ratified by the EU Commission and the EU Parliament.
However, according to reports in the Financial Times, there is growing support in both Germany and France to have all 38 EU National parliaments vote on ratification. This would likely kill the trade deal.
The momentum for this is that these ministers do not want to set a precedent
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