Belgium cannot sign off on EU-Canada trade pact
ricky l17 seconds ago
Trade Pacts will be the lifeline for Economic Growth for the World.
Any sharp edges in the pact can be trimmed and the economic benefits can be translated to benefit the people in the member Countries.
Without trade and just based on domestic economy, all the people in the individual Countries will be much worst off. The domestic economies will be too small as compared to the World market.
It will be translated into more business loss and job losses - if trade pacts are cancelled or dropped off.
ricky l16 seconds ago
There must be perseverance, stamina and wisdom to see through the trade pacts are finally signed no matter how difficult the obstacles and hindrance is ahead of you.
Most important the ultimate benefits must be brought back and redistributed to the common people at large - so that politically, there will be less obstruction and more support for trade pacts ---- which is one of the main vehicle in creating wealth for the people.
ricky l16 seconds ago
In fact the various trade pacts --- can be used to serve as a catalyst, a cluster - that can be "web up" like a spider web - leading to a complete WTO - World Trade pact - where World trade can be facilitated among all the UN Countries.
When this happen, wealth can created for all the UN Countries through International Trade - and prevent lethargic slow World Economic Growth - that are impacting the World now.
ricky l16 seconds ago
Trade Protectionism must not be allowed to take root.
Any hindrance can be smoothen up, can be cushion, any sharp edges can be sugar-coat, any bitterness can be sweeten ---- so that eventually trade pacts will benefit everyone and wealth can be created - through more business, more job gain.
ricky l16 seconds ago
Trade pacts that lead to increase in volume in trade - will bring about higher production, higher freight activities, higher investment, higher business growth, high job creation, higher business revenue, higher income revenue, higher tax revenue --- with lead to higher business confidence and consumer confidence.
Protectionism conversely will do the reverse --- and this explain why the World is now going into prolong low growth and weak business confidence, weak consumer confidence and consequently weak business investment and lower job growth.
Thus it is important to stand resolute to sign trade pacts to create wealth - and not let protectionist force stop wealth creation by killing trade pacts.
Belgium's Walloon parliament backs EU-Canada trade deal
BRUSSELS: The parliament of Belgium's French-speaking region of Wallonia voted in favor of a planned EU-Canada trade agreement on Friday, ending its opposition that threatened to destroy the entire deal.
Lawmakers of Wallonia, which led Belgian opposition to the Comprehensive Economic and Trade Agreement (CETA), 58 voted for and 5 against, after Belgian politicians agreed to an addendum on Thursday to allay concerns.
The parliaments of Brussels and the French-speaking community will vote later on Friday. Both votes are expected to mirror that of Wallonia, given similar Socialist-led coalitions are in control.
All 28 EU governments back CETA, which supporters say could increase trade by 20 percent, but Belgium's central government had been prevented from giving its consent because it needed approval from sub-federal authorities.
Wallonia's Socialist premier Paul Magnette, who had become a hero to protesters across Europe, said Belgian negotiations had led to a deal he could live with.
"The amended and corrected CETA is more just than the old CETA. It offers more guarantees and it is what I will defend," Magnette told a session.
The Belgian addendum addresses fears that a system to protect foreign investors could strengthen multinationals and provides a safeguard clause for farmers.
"With this saga, which I must say made some noise, everybody in Europe knows the Walloon parliament exists," he said.
The Belgian dispute over CETA reflects a split in the country between a richer Dutch-speaking north and a largely French-speaking south that has struggled to cope with the decline of its coal and steel industries.
The federal government has just one party from the south, Prime Minister Charles Michel's MR liberals, the Socialists' arch-enemies.
But not everyone in Wallonia agreed with Magnette.
"It is clear that the text of CETA stays the same: the DNA of CETA is one of deregulation and it puts nations in competition at an unprecedented level," said Frederic Gillot of PTB-GO, a hard left party that is winning voters from the Socialists.
European leaders still have to confirm a date for CETA to be signed.
CETA could partially enter force next year, some eight years after talks were launched, as long as the European Parliament also backs it. It would bring in tariff reductions before national and regional parliaments complete ratification.
CETA opposition is part of a growing popular backlash in the West against globalization, with fiercest protests against a proposed EU-U.S. deal, best known by its acronym TTIP.
Protesters say TTIP and CETA would strengthen multinationals and degrade food, environmental and labor standards.
Magnette on Friday said he had no doubt about whether the EU should reach an agreement with the United States.
"With this CETA, TTIP is dead and buried," Magnette said.
(Reporting by Robert-Jan Bartunek; editing by Philip Blenkinsop)
- Reuters
- Posted 28 Oct 2016 22:15
- Updated 28 Oct 2016 22:25
BRUSSELS: The parliament of Belgium's French-speaking region of Wallonia voted in favor of a planned EU-Canada trade agreement on Friday, ending its opposition that threatened to destroy the entire deal.
Lawmakers of Wallonia, which led Belgian opposition to the Comprehensive Economic and Trade Agreement (CETA), 58 voted for and 5 against, after Belgian politicians agreed to an addendum on Thursday to allay concerns.
The parliaments of Brussels and the French-speaking community will vote later on Friday. Both votes are expected to mirror that of Wallonia, given similar Socialist-led coalitions are in control.
All 28 EU governments back CETA, which supporters say could increase trade by 20 percent, but Belgium's central government had been prevented from giving its consent because it needed approval from sub-federal authorities.
Wallonia's Socialist premier Paul Magnette, who had become a hero to protesters across Europe, said Belgian negotiations had led to a deal he could live with.
"The amended and corrected CETA is more just than the old CETA. It offers more guarantees and it is what I will defend," Magnette told a session.
The Belgian addendum addresses fears that a system to protect foreign investors could strengthen multinationals and provides a safeguard clause for farmers.
"With this saga, which I must say made some noise, everybody in Europe knows the Walloon parliament exists," he said.
The Belgian dispute over CETA reflects a split in the country between a richer Dutch-speaking north and a largely French-speaking south that has struggled to cope with the decline of its coal and steel industries.
The federal government has just one party from the south, Prime Minister Charles Michel's MR liberals, the Socialists' arch-enemies.
But not everyone in Wallonia agreed with Magnette.
"It is clear that the text of CETA stays the same: the DNA of CETA is one of deregulation and it puts nations in competition at an unprecedented level," said Frederic Gillot of PTB-GO, a hard left party that is winning voters from the Socialists.
European leaders still have to confirm a date for CETA to be signed.
CETA could partially enter force next year, some eight years after talks were launched, as long as the European Parliament also backs it. It would bring in tariff reductions before national and regional parliaments complete ratification.
CETA opposition is part of a growing popular backlash in the West against globalization, with fiercest protests against a proposed EU-U.S. deal, best known by its acronym TTIP.
Protesters say TTIP and CETA would strengthen multinationals and degrade food, environmental and labor standards.
Magnette on Friday said he had no doubt about whether the EU should reach an agreement with the United States.
"With this CETA, TTIP is dead and buried," Magnette said.
(Reporting by Robert-Jan Bartunek; editing by Philip Blenkinsop)
- Reuters
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