A few weeks ago, all eyes were on Europe and its difficulties signing the comprehensive economic and trade agreement, also known as CETA, with one of its closest partners and friends, Canada.
After the last bumpy metres of a long road, it is finally up to MEPs to green light the provisional application of what is so far the most advanced and modern trade agreement.
As standing rapporteur, I am determined to do everything I can to launch the provisional application of the deal by 1 March. Just like the industrial revolution, globalisation is not something that can be stopped.
Therefore, it is critical for us to be the ones shaping it, and not the ones being shaped. Maintaining and strengthening our longstanding connections with Canada - a country that shares our values and our standards - is crucial to show our credibility to the world.
Canada, the 11th largest economy of the world, has always been a vital economic, strategic, and military partner of the European Union and its member states. If not with Canada, then with whom else can we cooperate?
Besides its relevance in the geopolitical context, CETA is also essential for the prosperity of our Union, member states, and citizens. CETA is the most advanced and modern trade agreement proposed for ratification in the EU and Canada.
The agreement can provide much-needed economic stimulus and create new jobs, at a time when the EU faces high unemployment rates.
When fully into force, CETA is expected to increase bilateral trade of goods and services by 22.9 per cent. It is estimated that EU-Canada trade will result in €11.6bn yearly GDP gains for the EU. Every €1bn in exports from the EU sustains approximately 14,000 jobs.
I would like to highlight just some of the many benefits of CETA, such as market access that will eliminate customs duties on almost 99 per cent of tariff lines, public procurement access at provincial and municipal level, strengthened intellectual property rights, and approximately 140 geographical indications of specific European high-quality products.
While the majority of tariffs will be liberalised, some special safeguards will be maintained for the most sensitive sectors on both sides, including quotas for beef and pork. Bearing in mind the sensitivity of dairy and poultry, those products will be exempt from CETA.
Also, there is no reason for speculation that CETA could lower the high EU food standards, because both sides will have to fully comply and respect the existing criteria.
All of these are huge benefits that cannot be overlooked and that will greatly facilitate the exports of our companies and businesses.
CETA will mainly favour our SMEs, which represent 99 per cent of all businesses of the EU.
However, only six million jobs in Europe are found in SMEs exporting outside the EU, which is exactly the reason why we need to facilitate the exports of our SMEs to increase jobs, salaries, and the prosperity of our citizens.
In the past few years, the SMEs have created around 85 per cent of new jobs. Besides the lack of experience, limited financial and human recourses, tariff and non-tariff trade barriers have been the main obstacles to SMEs accessing to the Canadian market.
Since big companies, despite the current long, expensive, and bureaucratic procedures, are already established in Canada, it is time for SMEs to fulfil their goals and ideas on Canadian soil.
We must take the existing constructive criticism into account, but I am convinced that we did put the necessary checks and balances in place by foreseeing a joint committee and by our commitment to further improve and adjust the agreement to new changes.
I stand for the future and I believe that this is a very good, ambitious, comprehensive, and balanced trade agreement that has to be ratified as soon as possible and that should serve as an example for further EU trade deals that could make the EU more prosperous, free and influential.