[LINK] "EU approves free-trade talks with Canada"

[rfmcdonald]

Via The Globe and Mail, the Associated Press reports that Canada and the European Union are getting closer to a wide-ranging trade pact.

The European Union endorsed plans today to open negotiations with Canada on a new free-trade pact.

The negotiations, which could last two years, are to be officially launched at an EU-Canada leaders summit May 6, in Prague.

EU Trade Commissioner Catherine Ashton said launching the talks “sends a signal that the European Union remains committed to trade and open markets at a time of economic crisis and rising protectionist sentiment.”

The “enhanced” trade deal will aim to open up trade in numerous areas including investment services, government procurement and agriculture goods. It will also aim to include a first-time agreement to allow the temporary movement of workers between Canada and the 27-member bloc and include efforts to bring into line regulatory rules on everything from copyright to food and animal safety rules.

Quebec Premier Jean Charest, a main proponent of closer Canada ties with Europe, has said a trade deal is the best way to protect jobs and to counterbalance Canada's dependence on the U.S. market.

EU foreign ministers approved the mandate for the talks today.

A study evaluating the benefits of closer economic ties concluded a deal could open up trade worth $18 billion a year for the European Union and $13 billion annually for Canada. It said both sides could profit from closer ties in science and technology and better environmental co-operation.