Canada to begin talks toward “deep economic integration” with European Union
September 30th, 2008This is big news, and arguably, really good news too. The Globe & Mail has published an article which says the Canadian government has begun talks toward “deep economic integration” with the European Union. The original article is in their subscription only section right now, and I’m not buying a subscription. But the topic is starting to get comments from other sources.
In his blog at Macleans.ca, Andrew Coyne calls this “Huger than huge. Hugeastic. Hugeriffic.” He suggests that this could make Canada the crossroads for international trade.
Understand what this means. If we pull this off, then Canada would be the only developed country (Mexico has its own deal) with guaranteed access to both the European Union and the United States — the two richest markets in the world, with 800 million consumers between them. Locating in either the US or the EU would give a firm guaranteed access to only one. Only by locating in Canada would they get both.
Coyne also quotes this text from the original Globe & Mail article:
The proposed pact would far exceed the scope of older agreements such as NAFTA by encompassing not only unrestricted trade in goods, services and investment and the removal of tariffs, but also the free movement of skilled people and an open market in government services and procurement – which would require that Canadian governments allow European companies to bid as equals on government contracts for both goods and services and end the favouring of local or national providers of public-sector services.
If this proves true, this would effectively make Canada a satellite state of the European Union. Seems like this should be getting a little more press. Seems like maybe this should be an election topic, no?
Don’t get me wrong. I’m all for it. Anything that reduces Canada’s economic dependence on the United States is a good thing in my books. My gut tells me that most Canadians will feel the same way. My gut also tells me that the Europeans will strongly favor this as well.
More press:
Roger Taylor at the Chronicle Herald says Nova Scotia should push for Canada-EU pact.
The Montreal Gazette: Free trade with Europe - a not-so-distant dream
National Post Editorial Board: Free trade with Europe is worth some concessions