Some details about the Canada-EU trade deal

Negotiated for almost five years and four months, the Comprehensive Economic and Trade Agreement (CETA) with Canada was overwhelmingly voted in by the European Parliament.

The Comprehensive Economic and Trade Agreement (CETA) has been over five years in the making and its ratification is set to eliminate nearly all trade tariffs between the European Union and Canada.

With 695 members of the European Parliament present, the agreement was ratified after three hours of sometimes loud debate by a vote of 408-254, with 33 abstentions, reported the Canadian Broadcasting Corporation (CBC), Canada's national newscaster.

The deal was put in jeopardy after the Wallonian region refused to agree to the terms, anxious that cheaper goods from Canada would hurt the farming and labor sectors, as well as lessen environmental and consumer standards.

Protesters attempted to disrupt the vote, with about 700 people marching outside parliament to voice their opposition.

CETA is a comprehensive deal that drops tariffs and grants new market access for many products including agricultural commodities.

"What we need to do, however, is do a better job of explaining what trade means to people".

Parts of the deal, including tariff reduction, will go into effect immediately, but some portions, including investments, will only be enacted after clearance by more than 30 European parliaments and the assemblies of Belgium's regions.

"If the Commission has any political instincts left they will continue to apply it provisionally", said Hosuk Lee-Makayama, director of the European Centre for International Political Economy, a Brussels-based thinktank.

The parliament also backed the European Commission's proposal for the annual Carbon dioxide cap under the EU ETS to fall by 2.2% a year over 2021-30, and rejected a proposal to increase this rate to 2.4%.

"Amid rising sentiment towards closing down trade opportunities, it is important that trading blocs such as the European Union and Canada can show the way forward lies in partnership and not protectionism", she said.

The Canadian government has clearly gained in confidence by the signing of the CETA agreement, but there is yet a long way to go.

The EU is Canada's No. 2 trade partner after the US, and Canada is the EU's 12th-biggest, according to the European Commission, the bloc's Brussels-based executive arm. The Netherlands could still block it if it demands an advisory national referendum on the deal.

"Multinationals will be able to attack governments in a privatised court system", said France's far-right presidential candidate and MEP Marine Le Pen, who voted against Ceta.

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