The European Union, Denmark, Norway and other major fishing nations like The United States, China and Russian Federation met in Ottawa on 29-30 May to discuss the prevention of unregulated fishing in the Arctic. The aim of the meeting was to begin preparatory work for enforcing the Agreement to prevent Unregulated High Seas Fisheries in the Central Arctic Ocean which was ratified earlier in 2018. The agreement is the precautionary approach by ten countries to manage high seas fish stocks in the Central Artic Ocean. The agreement covers approximately 2.8 million square kilometers, an area roughly equal to the size of the Mediterranean Sea. Climate change has brought this issue afront by melting the ice that traditionally covered the high seas of the central Artic Ocean year-round. The melting of this ice makes the region accessible to fishing.

Published in Latest News
Tuesday, 12 December 2017 20:46

New EU-Canada trade agreement comes into force

Deal to reduce consumer prices and boost trade

On 21 September 2017, the long-awaited free trade agreement between the EU and Canada, the Comprehensive Economic and Trade Agreement which the EU Parliament approved on 15 February 2017, provisionally came into force after more than eight years of arduous, detailed negotiations.

The EU-Canada trade agreement CETA, as it is known, eliminates virtually all tariffs on imports between the two economies, harmonizes and reduces trade regulations and related structural barriers, and provides a mechanism to resolve disputes concerning, trade, investment, and other economic matters. The provisional nature of CETA means that certain parts have not yet been completely agreed; these parts relate to investment protection and the Investment Court System. The rest of the agreement, including tariff reduction and removal, has entered into force.

Published in Trade and Markets