CETA refers to the Comprehensive Economic and Trade Agreement, which is a free trade agreement between the European Union (EU) and Canada. It was signed in October 2016 after seven years of negotiations and was provisionally applied in most of its areas in September 2017.
The main aim of CETA is to remove tariffs and other trade barriers between the EU and Canada, thereby facilitating greater trade and investment flows. In addition to reducing trade barriers, CETA also includes provisions related to intellectual property, government procurement, labor and environmental standards, and dispute settlement mechanisms.
CETA has received mixed reactions from various stakeholders. Proponents argue that it will create new business opportunities and lead to increased economic growth and job creation. However, opponents are concerned that it may weaken national sovereignty, undermine labor and environmental standards, and allow multinational corporations to challenge government regulations.
Overall, CETA represents one of the most significant trade agreements to have been concluded in recent years, and its impact on the global economic landscape remains to be seen.
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