The text of the agreement – all 1598 pages of it – is finalised and hopefully will be signed on October 27, 2016 at the Canada-EU Leaders’ Summit. In the coming months, it will be translated in all EU official languages. To be fully implemented, it must however, not only be approved by the Council of the EU and the European Parliament but also ratified by the parliament of each EU country, a process expected to face some serious hurdles due, among others, to opposition from national anti-globalisation groups.
In the meantime, the European Commission and the Canadian authorities have proposed a provisional application of CETA, but the debate remains as to whether the Commission has the powers to provisionally apply such international agreement and to what extent.
Stay tuned as we will follow the developments on this subject. This could bring a myriad of new opportunities for your business!