The provisional application of CETA opens a new chapter in closer relations between Canada and the EU. The more effective the implementation of the provisional application, the greater the chances for full ratification. The ratification process will involve as many as 38 parliaments, including regional ones - a potentially bumpy road ahead.
In the global context, I am convinced that CETA will deliver on its potential. CETA has become almost symbolic as an opportunity for proving the case for international trade in general. The employers' group of the EESC is fully committed and expressed strong support for this reference deal.
A recent study quoted by Canadian representatives indicated an anticipated 23 per cent growth in bilateral trade once the deal is fully in force. This is equal to €26bn a year, which would be translated into growth and jobs. SMEs in particular would benefit from the deal, mainly through support for regulatory cooperation, easing of trade procedures and the opening up of public procurement.
According to estimates, the provisional application of the deal will introduce around 90 per cent of the tariff reductions provided for by CETA. This would enable its benefits to be demonstrated to sceptics. Moreover, the implementation of CETA and its results will be carefully monitored both by its supporters and opponents.
In the current international context, CETA has become a benchmark trade deal for future agreements. Success for the deal will dampen the bad press that trade agreements currently face, making this a unique opportunity.
I believe that civil society and the business community in particular have a crucial role to play in spreading a positive message about the outcome of CETA. It is business that can tell the story of the tangible practical benefits stemming from its provisional application along with the creation of jobs and growth that will ensue.
It is up to us, employers, to dispel the myths with facts. That is also why we need a proper civil society monitoring mechanism for CETA.
The days when trade agreements were only technical discussions are over; trade policy is now a political issue. The concerns of society must be addressed in order to provide broad support for trade. We must inform and educate as well as fight the misinformation about international trade that has flooded the media, social media in particular.
The EESC transatlantic follow-up committee has made CETA its priority for 2017. We are planning a civil society event at the beginning of June in the EESC on CETA's implementation and the way forward, featuring participation by key stakeholders from the EU and Canada.
Apart from the economic aspect, this agreement between two major industrialised parts of the world has also, in my view, a broader, geopolitical importance. It enables us to shape the future of globalised trade instead of following trends set by others.
This is extremely important now, with TTIP on hold. I still hope that sooner or later TTIP will be back on the table and that the efforts of previous negotiating rounds will not be wasted. However, now is the time to show that CETA offers tremendous prospects for businesses and citizens.