Business and Government in Spain is an English language blog on legal issues regarding Spanish business and governmental affairs
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CETA: an opportunity for both Canadian and European companies
In 2017 the Comprehensive Economic and Trade Agreement (CETA) between Canada, of the one part, and the European Union and its Member States, of the other part, was executed.
CETA is an opportunity for both Canadian and European companies.
- Remove customs duties and non custom obstacles.
- Protect traditional European food and drink products (denominaciones de origen).
- Open up the Canadian services market to EU companies, removing obstacles.
- Make it easier for EU firms to bid for Canadian public contracts:
> Removing obstacles to EU companies.
> All biddings (from certain threshold) must be published in a single website.
> However there are certain exceptions.
- Make it easier for European professionals to work in Canada.
> No nationality of residence required to render a service.
> Residence for 12 months for self-employed professionals
> Moving up to 3 years, working for the same company, with spouse and children.
> Allow for the mutual recognition of some qualifications.
CETA is an International treaty between Canada and the EU and EU member states.
- All parties shall ratify it before it comes into force.
- EU and Spanish Parliament have ratified it.
- Some sections are provisionally applicable due to an EU Decision.
- The provision that are not applicable until full ratification are those related to:
> Investment protection
> Investment Court (which is consistent with EU Law , EU Court Report 1/17).
> Portfolio investment (not direct investment).
The treaty is binding but many provisions shall be enforced through national legislation.
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