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ARTICLE · 28 SEPTEMBER 2015

CETA: Hurry Up And Wait … But Be Ready!

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For some time now the Comprehensive Economic and Trade Agreementbetween Canada and the European Union has felt somewhat like a mirage:

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For some time now the Comprehensive Economic and Trade Agreement ("CETA") between Canada and the European Union ("EU") has felt somewhat like a mirage: a refreshing source of economic stimulation in a difficult environment sitting almost within grasp on the horizon but yet which moves away as you try to approach it.

Initiated in 2008 by the Canadian government at the urging of the province of Quebec and quickly supported by several other provinces and territories, CETA was conceived to allow Canada and the EU to develop closer economic ties in response to the stalled Doha Round of talks at the World Trade Organization. The results of an initial feasibility study1 released in 2008 were very encouraging: a 20% increase in bilateral trade was anticipated representing an injection of some 12 billion dollars per year into the Canadian economy brought welcome news to our business community since 60% of Canada's GDP is based on international trade and one out of every five

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