France approves trade agreement with Canada

The French government on Wednesday approved the EU-Canada Free Trade Agreement (CETA), which the National Assembly will have to ratify on July 17, said Secretary of State Jean-Baptiste Lemoyne.

"The council of ministers has deliberated and approved the bill," he said after the meeting of the government, highlighting "the very positive outcome" of the first year of this agreement, entered into force provisionally to almost 95% in September 2017.

"Our exports to Canada grew by 6.6% between 2017 and 2018," said the Secretary of State to the Minister of Foreign Affairs, stating that the French trade surplus with the North American country had increased from 50 to 450 million euros during the same period.

Approved in February 2017 by the European Parliament, the treaty must be approved by the 38 national and regional assemblies of Europe. Spain and the United Kingdom have already ratified, but Germany and Italy have not yet given their green light.

Specifically, CETA, which covers a total of 510 million Europeans and 35 million Canadians, removes tariffs on 98% of products traded between the two zones, extends certain services to competition and strengthens regulatory cooperation.

It also allows the recognition of 143 products of protected geographical origin (PDO) in Canada, on the other hand, agriculture gaining greater access to the European market. "This is the recognition of our French and European agricultural model," said Mr. Lemoyne.

According to Canadian figures, the North American country has exported only 1,000 tons of beef, or just 2% of the quota granted by CETA, this sector is not yet ready for European requirements that exclude meat in particular to growth hormones.

"These are tiny quotas," said Lemoyne to reassure French farmers. "Canada is not equipped in terms of supply chains to meet European standards," he added, noting that only 36 farms produce hormone-free beef.