CETA - Today's Resolutions of the Bundestag

Symbolic CETA stamp

Symbolic CETA stamp, © SULUPRESS.DE

28.11.2022 - Article

After years of hesitation, Germany has ratified the EU's CETA free trade agreement with Canada. Canada has already completed ratification.

Today, 559 members of the German Bundestag voted in favor of the corresponding law. The business community is hoping for a boost in trade with the North American country and further agreements with other states such as Chile and Mexico.

However, CETA cannot finally come into force until all 27 EU member states have given the green light. Many countries - including Italy and France - have not done that so far.

The EU and Canada had already concluded negotiations on the agreement in 2016 and CETA entered into force provisionally in September 2017. Since then, CETA has been providing Canadians and European businesses with preferential access to each other’s markets. Among other things, this means that 98 percent of all goods traded between the EU and Canada are no longer subject to customs duties.

In 2021, German goods worth ten billion euros were exported to Canada, while imports totaled 6.2 billion. Of the total German trade volume, however, this is only 0.6 percent. Thanks to CETA, exports to Canada have increased by more than a quarter in the last five years.

CETA helps small and medium-sized enterprises in particular to export to Canada and to establish themselves on the Canadian market.

The three-way coalition is seeking further trade agreements. However, the Green party (BÜNDNIS 90/DIE GRÜNEN) and the SPD in particular are insisting that sustainability criteria - for example, environmental protection requirements and minimum labor standards - be anchored in new agreements.

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