A trade deal with the European Union could generate far more opportunities than risks, according to a C.D. Howe Institute report released August 15.
In Uneasy Birth: What Canadians Should Expect from a Canada-EU Trade Deal, author Daniel Schwanen describes what would be a good deal for Canada and suggests how to address negative aspects of the deal identified by critics.
"We are nearing a turning point for Canadian trade policy, whether a deal is reached in the next few weeks or not," said Schwanen.
"The issues involved are global; it is a good test case for how Canada will adapt to emerging trade realities."
The author noted that the trade of tasks, as opposed to goods, is increasing on a global scale, and that a comprehensive economic and trade agreement (CETA) between Canada and the EU would need to deal with this. This would involve addressing services trade, intellectual property, regulatory co-operation and investments.
In addition, said Schwanen, the agreement should work to removing traditional barriers such as tariffs.
The author said critics of a Canada-EU CETA have concerns that are largely exaggerated and could be addressed through careful drafting of the agreement.
"If anything, the danger is that the agreement would not open markets enough," said Schwanen.
