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The CETA Treaty - The Trojan Horse of Europeanization

Author

Listed:
  • EDITH MIHAELA DOBRESCU

    (Institute for World Economy of the Romanian Academy 13 September Calea, no.13, Bucharest ROMANIA)

  • EMILIAN M. DOBRESCU

    (Institute for National Economy of the Romanian Academy 13 September Calea, no.13, Bucharest ROMANIA)

Abstract

The Comprehensive Economic and Trade Agreement (CETA), that numbers about 2,000 pages, is a free trade agreement between Canada and the European Union. By adopting it, there will be eliminated 98% of Canada-EU trade tariffs. According to a study made by the Impact and Sustainability Commission (SIA), the EU economy will grow by 0.03% over the long term due to the CETA Agreement, while Canada's economy would increase by 0.2-0.4%. Critics who oppose the treaty argue that it will weaken consumers' rights from a food safety perspective and that tariffs are already negligible. Negotiations ended in August 2014, the agreement was approved by the Council of the European Union and the European Parliament and was ratified by all EU Member States. Ratification of the CETA (Canada & Europe Trade Agreement) has always been the subject of serious concerns, first of all Canada was "cautiously optimistic" about the fate of this Treaty.

Suggested Citation

  • Edith Mihaela Dobrescu & Emilian M. Dobrescu, 2017. "The CETA Treaty - The Trojan Horse of Europeanization," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, vol. 5(2), pages 18-22, December.
    • Handle: RePEc:ntu:ntugeo:vol5-iss2-17-018
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    More about this item

    Keywords

    trade negotiations; free trade agreement; regional opposition; ratification; free movement of labor; recognition of qualifications; arbitration tribunal;
    All these keywords.

    JEL classification:

    • F - International Economics
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F1 - International Economics - - Trade

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