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The Czech Republic, Romania and Bulgaria had said they would not support the agreement, effectively cancelling the entire agreement until the visa requirement for their citizens entering Canada was lifted. [45] All other EU countries already had visa-free travel to Canada. The visa requirement for the Czech Republic was lifted on 14 November 2013. [46] [47] [48] On December 1, 2017, Canada lifted the visa requirement for Bulgarian and Romanian nationals visiting business and tourism services in Canada by the end of 2017.[49][50] [51] [52] It does little for trade in services and, in particular, almost nothing for trade in financial services, which is very important for the UK economy. This license exists only in one direction – states cannot sue companies in this investor-state arbitration procedure. Such investor complaints are not new to international law (UNCTAD listed 514 such cases at the end of 2012, most of them from the United States, the Netherlands, the United Kingdom and Germany), but this broad level of parallel justice is new for transatlantic trade and transatlantic investment. The EU does not have a free trade agreement with Australia. They are in negotiations, but they are currently working mainly according to the rules of the World Trade Organization (WTO). CETA is Canada`s largest bilateral initiative since NAFTA. It was launched following a joint study entitled „Assessing the Costs and Benefits of a Closer EU-Canada Economic Partnership“[22], published in October 2008.

Officials announced the opening of negotiations on May 6, 2009 at the Canada-EU Summit in Prague. In addition to removing barriers, the TIEA is expected to increase Canadian and European interest in other`s markets. [24] The TIEA lasted until 2006, when Canada and the EU decided to halt negotiations. This led to negotiations for a Canada-European Union trade agreement (later renamed the Comprehensive Economic and Trade Agreement or CETA) and this agreement will lead, beyond the TIEA, to an agreement whose scope is much broader and more ambitious. The European Union (EU) is one of the world`s largest economies and Canada`s second-largest trading partner. The Canada-European Union Comprehensive Economic and Trade Agreement (CETA) provides Canadian businesses with privileged access and excellent growth prospects in the EU. Learn more about CETA and what it can do for your business.

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