Prague, Nov 16 (CTK) – The Czech government approved on Wednesday the text of one of the addenda to the Comprehensive Economic and Trade Agreement (CETA) with Canada that was changed two weeks ago after complicated talks on the consent of Belgium’s Wallonia.
The negotiators formally changed the joint statement on the interpretation of the CETA to make Walloons withdraw their negative stance that would block the agreement in the EU.
The CETA will start removing most duties and other fees restricting the EU-Canada trade as of next year.
According to the Czech Industry and Trade Ministry, the approved modifications will not change the content of either the addendum or the CETA alone.
This compromise enabled the CETA to be approved by all EU member states and subsequently be signed on the EU level and between the EU and Canada on October 30.
The Czech government confirmed the agreement in mid-October. On Wednesday, it only approved the updated addendum.
Czech firms expect the CETA to help improve their trading with Canada not only because of the removal of customs barriers but also thanks to the mutual recognition of education and professional qualification, for instance.
The Confederation of Industry says the CETA will enable Czech firms to participate in public contracts in Canadian provinces and that both sides will recognise certifications. Moreover, it will be easier to send Czech firms’ workers to Canada. The system of settling investment disputes will also be set.
In terms of bilateral trade volume, Canada is the 53rd business partner for the Czech Republic, the 43rd export market and 53rd import market.
Last year, Czechs exported goods worth 6.4 billion crowns to Canada and Czech import from Canada amounted to 4.03 billion crowns.
The Czech Republic has had a surplus in trade with Canada for five years. Czechs primarily export rails, steal and iron products and tyres to Canada and mainly import medicines, aviation industry components and mechanical engineering products.
