Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-06-Speech-1-136-000"
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"en.20110606.19.1-136-000"2
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"Madam President, we can be extremely pleased that our long-standing relations with Canada, one of our oldest and closest trading partners worldwide, have been defined by common roots and values.
As we know, in recent decades, a whole series of framework agreements for trade and economic relations have been concluded, from sectoral agreements right through to the most diverse trade initiatives. The EU-Canada comprehensive economic and trade agreement (CETA), with regard to which there are probably only the last few minor details that need to be worked out, will probably enter into force in the near future.
Although the predecessor to this agreement was never actually concluded, this time, everyone involved seems to be confident. The Canadian chief negotiator even admitted at the start of the year that this agreement was a top priority for Canada. As the second largest trading partner, the EU is clearly intended to be established as a counterbalance to the US market and, conversely, as far as Europe is concerned, Canada represents a gateway to the NAFTA economic area.
If the experts prove to be right, the conclusion of the CETA could increase bilateral trade between the European Union and Canada by 20% by 2014. Those are extremely appealing prospects, particularly in economically strained times. If we consider that, after Saudi Arabia, Canada has the largest oil reserves, this is probably also of strategic significance in the context of European efforts to achieve more energy security, and that is something that we should definitely bear in mind."@en1
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