EU-Canada trade deal underway

12 September 2014 As

12 Sep 2014| News

12 September 2014

As TTIP, the Transatlantic Trade and Investment Partnership, attracts public attention and public outcry, a similar trade deal with Canada is currently underway.

The Comprehensive Economic and Trade Agreement (CETA) is a free trade agreement between the EU and Canada, branded a ‘threat to democracy’ by the World Development Movement.

Negotiators meet today (12 Sep) in Brussels to finalise the CETA text

The deal has been kept secret from the public. However, a leaked text shows that like TTIP, CETA contains an Investor-State Dispute Settlement (ISDS) clause. This means that corporations could sue any government threatening profit making, including the renationalisation of public services.

After today’s meeting neither the British nor European governments will have the power to amend the deal; it is therefore Vince Cable’s last chance to use his veto to remove the ISDS clause from CETA.

“The CETA deal, just like TTIP, is a charter for big business and a disaster for democracy. If it is agreed, it will undermine the power of democratically elected governments to make decisions in the public interest. We oppose CETA, and we’re calling on Vince Cable to halt this power grab by big business”, said Nick Dearden, director of the World Development Movement.