Regional and Bilateral Initiatives
Canada-European Union - Trade and Investment Enhancement
Agreement |
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At the Canada-European Union Summit in Ottawa on March 18, 2004,
the leaders agreed to a framework for a new Canada-EU Trade and
Investment Enhancement Agreement (TIEA) and reiterated their commitment
to reaching a successful conclusion to the World Trade Organization’s
(WTO) Doha Development Agenda.
The TIEA, first conceived at the December 2002 Canada-EU Summit
in Ottawa, is an ambitious and forward-looking initiative, responding
not just to current issues, but also anticipating future challenges
and creating opportunities to broaden and deepen the trade, investment
and overall relationship with the EU. The TIEA is an important element
in the development of Canada’s broader relations with the
EU, particularly as the EU expanded to 25 members in May 2004. Collectively,
the EU’s twenty-five member states represent Canada’s
most important trade and investment partner after the United States.
In 2005, two-way merchandise trade amounted to approximately $70
billion, while two-way direct investment surpassed $214 billion.
This new agreement is intended to move beyond traditional market
access issues and would include areas such as trade and investment
facilitation, competition, mutual recognition of professional qualifications,
financial services, e-commerce, temporary entry, small- and medium-sized
enterprises, sustainable development, civil society consultation,
and science and technology. The TIEA will also build on a Canada-EU
regulatory cooperation framework (see
News Release of December 21, 2004) for promoting bilateral cooperation
on approaches to regulatory governance, advancing good regulatory
practices and facilitating trade and investment. In addition to
lowering barriers, the TIEA would heighten Canadian and European
interest in each other’s markets and could bring considerable
economic benefits to Canada.
The TIEA Framework provides a list
of the mutually agreed chapter headings of issue-areas for inclusion
under the TIEA with a brief description outlining the scope to be
negotiated.
The TIEA negotiations were launched in Brussels May 17-18, 2005.
(See News
Release of May 17, 2005) and another set of talks occurred later
that year in Ottawa, October 5-6, 2005. The third round of negotiations
was held in Ottawa, February 20-23, 2006. To date, discussions have
taken place on the following issue-areas: regulatory cooperation;
services (domestic regulation, mutual recognition of professional
qualifications, temporary entry, financial services, and e-commerce);
government procurement; trade facilitation; investment; sustainable
development; intellectual property rights; science and technology
cooperation; small and medium-sized enterprises (SMEs); and institutional
provisions.
Update
After three rounds of negotiations, we are pleased with the progress
achieved to date in the TIEA negotiations. However, since many of
the issues we are tackling in the TIEA are also being addressed
in some fashion in the WTO negotiations, Canada and the EU jointly
decided in May 2006 that it would be best to pause the TIEA negotiations
at this stage and await the outcome of the WTO Doha Round before
moving ahead. Since the TIEA negotiations began, Canada has not
anticipated concluding the TIEA before knowing the results of the
WTO talks as the latter is of central importance to Canada in reducing
EU barriers.
In addition to our efforts in the WTO negotiations, Canada and
the EU will continue to work bilaterally in other ways and we are
committed to further strengthening our important trans-Atlantic
links. For example, we recognize that good progress has been achieved
in the regulatory cooperation discussions. Both sides wish to maintain
the momentum and substance of the discussions in this new area of
cooperation and have encouraged this group to continue its work,
building on the regulatory cooperation framework of 2004.
Consultations
In April 2003, the Government of Canada launched extensive domestic
consultations with business, citizen-based organizations and individual
Canadians, as well as with the provincial and territorial governments,
to obtain advice and views on priorities, objectives and concerns
on the scope of the proposed bilateral trade and investment enhancement
agreement as well as on barriers to the European market to be addressed
in the context of ongoing WTO negotiations. (For more information,
see the News
Release and Backgrounder and the Canada
Gazette Notice of April 12, 2003)
The Government
of Canada was in the process of undertaking a Strategic Environmental
Assessment of the negotiations for a Trade and Investment Enhancement
Agreement with the European Union and had invited comments on any
likely and significant environmental impacts of the negotiations
on Canada. The closing date for comments was September 16, 2005.
Click here for more
information. Work on the environmental assessment will continue
when the TIEA negotiations resume.
Contact Point
If you have questions or comments about this initiative we would
like to hear from you. Please contact the Department of Foreign
Affairs and International Trade at:
Regional Trade Policy Division (TBB)
Department of Foreign Affairs and International Trade
Lester B. Pearson Building
125 promenade Sussex Drive
Ottawa, Ontario, K1A 0G2
Fax: 613-944-3489
E-mail : consultations@international.gc.ca
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