Friday, 18 October 2013

The Deal Is Sealed

   It took 4 years of hard-fought negotiation, and there are still hurdles to clear, but a major trade deal has been signed between Canada and the European Union. Prime Minister Stephen Harper and E.U Commissioner Jose Manuel Barroso put pen to paper, and signed the bottom line.
   And even before the ink on the historic document dried, critics are already decrying it. Ontario, for instance, says the pharmaceutical industry in that province will suffer. Several provinces worry about what the deal could mean to higher drug costs to them and consumers. Some dairy farmers say with European cheese now being allowed into Canada, they will suffer. Part of the deal will allow roughly twice as much cheese into our country
   The Prime Minister thinks otherwise. Mr. Harper says with a potential marker of half a billion people for things like Canadian beef and pork, more than 12 billion dollars in trade is possible. He also says there could be job creation in the 80 to 100 thousand range. Not right away, mind you, but in the not distant future.
   As mentioned, there are still a few hurdles to clear. For example, all 28 European Union States need to ratify it, and there are other aspects of the deal which could take 2 more years to implement. And the majority of what the document details will not be released. At least, not yet.
   The biggest question is, of course, whether or not the deal will be a net benefit for our country. Not being a politician, or anyone who negotiated the deal, I really can't say. But on balance, it seems to me at least that having a trade deal done with the E.U is better than not having one.

TTFN

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