EU and Canada sign CETA for free trade. Italian shoe market will benefit of no duty of 20%

The CETA (Comprehensive Economic and Trade Agreement), which is part of the TTIP, establishes the rules for the free trade agreement between the EU and Canada. Its entry into force, on an interim basis, is expected in April, after the vote of the Canadian Parliament. To turn it into a definitive agreement it will have to be ratified by all 28 national parliaments as well as some local legislatures (i.e., Belgium), for a total of 38 meetings. In his speech to the European Parliament, the EU Commissioner for Trade Cecilia Malmström emphasised the benefits for small and medium-sized enterprises, especially in the textile and footwear sector. She also promised protection measures for the beef industry, responding to a French concern. The agreement involves the reduction of duties on products exported from Italy as, for example, industrial machinery (up 9.5%) and footwear (up to 20%). Positive reactions came from the Minister of Economic Development Carlo Calenda. In Strasbourg, during the vote, there were protests from those who believe that the agreement would jeopardise Europe’s local production and allow the entry into Europe of products currently banned as GMOs.

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