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Canada, EU ministers to make final trade push

15 November 2012, 19:03 CET
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(OTTAWA) - Canada and EU ministers will hold talks in Brussels next week in an effort to "resolve at the political level" roadblocks to a free trade pact, said officials Thursday.

Canada-EU free trade negotiations, now in their third year, were expected to wrap up by year's end.

Negotiators are in both Brussels and Ottawa this week hammering out the final details of the proposed Canada-European Comprehensive Economic and Trade Agreement.

But European Trade Commissioner Karel De Gucht said recently that ministerial talks between himself and Canadian Trade Minister Ed Fast were needed to try to "close the deal."

"There are a number of issues I believe that you can only resolve at the political level," De Gucht said.

Fast's spokesman Rudy Husny told AFP those talks, tentatively scheduled for November 22, "will undoubtedly be followed by further discussions at all levels."

A deal with the 27-nation European Union would be Canada's second-largest free trade pact after the 1994 North American Free Trade Agreement with the United States and Mexico, and the first to include access to municipal procurements.

But there are stumbling blocks in the talks involving intellectual property, public procurement and aspects of the services sector.

Canada's provinces and municipalities have expressed concerns about losing their ability to extend preferences to local suppliers, while others fear higher drug costs if patent protections keep out cheaper generics longer.

Environmentalists, farmers and auto workers have also rallied against a trade accord with the EU, the largest integrated economy in the world with more than 500 million consumers.

EU Canada trade relations


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Canada, EU ministers to make final trade push

Posted by Gary G Stromberger at 16 November 2012, 03:21 CET
The intellectual property thing shouldn't be a stumbling block. It would be overwritten by the G20 focus scheduled for 2013Russia for Global intellectual property standards.

Still hoping ECB buyback for Bank of Canada annual/quarterly settlements availability for Canadian Note & Maple Bond issues is current ...or for the agreement.

Post maturity "set current price" & guarantees of "no realized haircuts" on settlement until downgrade to Global approval, if/when required, would help me right now.

This as a Global procedure may make High yield for new issues problem go away due to legacy debt problems for Canada & Eurozone members ...if not for the rest of the EU and other's too.