Traffic Light to CETA Agreement: “The Basis of the New Trade Policy”

Traffic Light to CETA Agreement: "The Basis of the New Trade Policy"

Thus: 06/23/2022 6:58 PM

The temporary CETA trade agreement between the EU and Canada has long been controversial, especially among the Greens. Now the mood has changed. The Traffic Light Coalition wants to get CETA through the Bundestag soon so that it can be ratified.

The ratification of the EU’s interim CETA trade agreement with Canada is drawing near. The factions of the SPD, the Greens and the FDP want to pass the ratification law before the summer break, and the Bundestag should have a chance soon as well. This was announced by representatives of three coalition factions in Berlin.

However, in order to do so, they seek to reform the agreement that has already been negotiated. According to Green Party leader Katharina Droge, this includes, for example, rules on investor arbitration courts, which must be “diffused”. These bodies are designed to deal with investor complaints. However, corporations shouldn’t be able to use these devices in a way that puts pressure on environmental regulations, Droge said.

Above all, the right to special prosecution was a cause for criticism.

Green Party leader Katharina Droge said: “After intense negotiations, with this agreement we have formed the basis of a new trade policy that will be fairer and more sustainable.” The Greens in particular were concerned, for example, about corporations’ exclusive right to take legal action provided for in the agreement.

CETA is in force for some time from 21 September 2017 – but only in areas for which only the European Union is responsible and not its member states. Other parts are pending ratification.

READ  Tips for Bringing Plenty of Good Vibes into Your Home Using Feng Shui

According to Droge, leader of the Greens parliamentary group, the planned changes will not mean that the entire ratification process has to start over. “There is no need to interrupt the ratification process,” she said. Only a majority among EU states and the consent of the whole of the EU and Canada is required.

The EU needs approval from twelve states

In the European Union, there is still no approval from twelve countries, including Germany. Canada and the European Union have not yet ratified CETA. Therefore, nothing changes with the agreement between the traffic light factions.

“CETA has been a success,” said Verena Hubertz, leader of the SPD parliamentary group. At the same time, the coalition will advocate for a new generation of trade agreements that also have stability and social rights.

Trade is important, especially with liberal democracies such as Canada, according to Christian Durr, leader of the FDP parliamentary group. “Free trade with the world’s democracies is more important than ever.”

CETA trade agreement – traffic light factions agree to ratification

Claudia Plas, ARD Berlin, June 23, 2022 at 7:10 pm

Written By
More from Alec Woods
Trudeau, Ford announce partnership with 3M as Ontario documents an additional 131 cases of COVID-19
Leading Doug Ford urged Ontarians not to let their guard down for...
Read More
Leave a comment

Your email address will not be published. Required fields are marked *