Pressed by a deadline to seal the deal, Belgium turned down a historic free trade deal between the European Union (EU) and Canada. The rejection shocked anew the European Union, which earlier suffered a big setback when Britain opted out of the union via the Brexit vote last June.
After a meeting with the Belgium's key leaders, Prime announced that they were not able to arrive at a consensus approving the Comprehensive Economic Trade Agreement (CETA) as proposed. To approve the CETA deal, all of the 28 EU members must endorse the trade deal which is designed to link the EU with Canada, the world's 10th biggest economy.
Many feel that time has run out for CETA to be approved in Belgium. While Flanders, the German community and federal government approve the trade, the French community and Wallonia, the city government in Brussels are definitely not in favor.
Wallonia wanted more time to negotiate terms of the deal and eventually threw out the proposal for lack of time to do so. EU council president Donald Task had earlier set the timeframe within which Belgium can approve the deal since Canadian Prime Minister Justin Trudeau was to attend the CETA signing in Brussels by Monday.
The head of Wallonia parliament, Andre Antoine said that it was vital to set the deal right since it can be considered groundwork for future trade negotiations with other countries like China and the United States. More studies must be made how trade deals can come in conflict with the laws of EU member countries
Anti-globalization groups are opposing CETA which can pave the way for the passing of a EU-US trade proposal which they also view with disfavor. Non-government entities in Europe like Greenpeace support the stand of Wallonia and can complicate matters even more.
Meanwhile, Canada must be furious with Belgium for its rejection of CETA.
