On 15 February, the European Parliament voted in favour of the Comprehensive Economic and Trade Agreement between the EU and Canada (CETA), with a following ratification from Canada on 17 May 2017. At the G-20 meeting in Hamburg, the date of 21 September has been communicated as the start of the CETA's provisional application.
CETA is a "mixed agreement", containing EU exclusive and shared competences. The provisional application does not require the ratification of the EU Member States, to the extent that it falls within EU exclusive competence under Article 3 TFEU.
In terms of the actual benefits, CETA will achieve:
- Over 90% of the provisions will begin taking its effect from September, cutting of 98% on custom duties on trade in goods. The particularly sensitive sectors will be subjected to longer phase-outs.
- Lead to significant improvements in public procurement market access.
- Liberalization of trade in services and significant opportunities for the EU manufacturing industry.
The agreement has already been ratified in Latvia, Denmark, Spain and Croatia. In France the proceedings over CETA's provisional effect are subject to the proceedings of the French Constitutional Court and its meaning for national sovereignty as well as of an interest of the Committee for the evaluation of the impact of CETA. Securing the quotas for French cheese exports is the current source of content.
CETA's investment chapter, aside of provisions on financial services and taxation will not be subject to the provisional application.