Belgium won’t support trade deal with Canada
Summary
The article reviews how the Belgium government and in particular the Wallonia group has failed to sign an agreement to trade with their Canadian counterparts. Belgium is well known for exporting weapons to countries such as the Saudi Arabia among others but fails to recognize the deal made to trade with Canada. Comprehensive Economic and Trade Agreement, CETA, is opposed by the Wallonia’s since the trade agreement might see some European Union’s being sued at any instance since it has a court system that is different from what they are used to in the trade sectors (Dendrinou and Drozdiak, pg1). Wallonia rejects the trade deal which could allow the changing of at least 9,000 tariffs that in certain ways is advantageous to the whole stakeholders but unfavorable to the pork and beef industry according to Wallonia.
Why the article is important to the UK
The article is very important to the United Kingdom trade since a waiver on close to 9,000 tariffs could boost their businesses by a wide range (Dendrinou and Drozdiak, pg1). The EU and Canada trade agreement were to offer free trade across the region thereby allowing the involved countries reduce on the expenses spent on exports and imports to the member countries.
Observations
According to the trade agreement, the environment, the services offered to the public, and any other key sensitive areas of concern by the Wallonia were discussed and agreed that they will not be tampered with but the deal still feels having a hidden agenda. Free trade is one of the best implementations that a country and its member states can enjoy but allowing control over the other members discriminates the deal. Brussels has the largest rate of unemployment and the deal can work on their part but investments details on court actions need to be looked at to eliminate the doubt among the EU government.
Work cited
Dendrinou, V. and Drozdiak, N., “EU, Canada Trade Deal Bloked by Belgian Opposition”. THE WALL STREET JOURNAL. 2016
