EU approves CETA deal

Image : Jean-Claude Juncker

European Parliament voted in favor of the landmark free trade deal CETA, between the EU and Canada with 408 votes for, 254 against and 33 abstentions.

EU Commission President Jean-Claude Juncker called the vote “an important milestone” and said “EU companies and citizens will start to reap the benefits the agreement offers as soon as possible.”

The deal will drop barriers between both sides. Trade between the EU and Canada amounts to more than €60 billion a year, and the EU expects CETA deal to boost this by 20 percent by removing almost all tariffs.

Critics say it could dilute standards for food safety or labor rights by giving more power to big corporations.

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