I propose to take Questions Nos. 648 to 658, inclusive, and 665 to 674, inclusive, together.
The EU-Canada Comprehensive Economic Trade Agreement (CETA) is a new generation agreement that will remove over 99% of tariffs between the EU and Canada and will create sizeable new market access opportunities in services and investment. It will end limitations in access to public contracts, open-up services market, and offer predictable conditions for investors.
The EU-Canada Agreement will save on duty costs as 99.6% of all industrial tariffs will be eliminated on entry into force. Irish firms will also benefit from the recognition of product standards and certification, thus saving on ‘double testing’ on both sides of the Atlantic. These are some of the benefits of the trade deal with Canada as well as providing new market opportunities in many sectors for Irish firms.
In May this year, the Council had an exchange of views on the EU-Canada Comprehensive Economic and Trade Agreement (CETA) and the process towards signature and provisional application of the agreement. The European Commission and Member States highlighted the high quality of the agreement reached with Canada and expressed the desire to work towards signature of the agreement at the October EU-Canada Summit. The Commission advised the Council of its intention to submit a proposal for a decision on signature of CETA before the Summer. I understand that the Commission will adopt their proposal this week. It is a matter for the EU Commission to decide if they wish to publish their proposal.
There are differing views on the legal position on competence and the CETA. The European Commission is of the view that CETA falls within the competence of the EU only. We will need to wait and see the formal proposal from the Commission and, importantly, the legal basis for this. It will be a matter for the Council and the European Parliament to decide on the signature and provisional application of CETA.
The provisions of the CETA on investment dispute resolution relate solely to the CETA as an international trade agreement. Such trade agreements are not part of domestic law. This is why separate adjudication arrangements are required in the event of disputes under the agreement.