The Traffic Light Coalition has decided to ratify the “EU-Canada Comprehensive Economic and Trade Agreement” – called CETA – this summer. However, the federal government wants it to be implemented in Germany only if an additional agreement has been reached. The European Union and Canada have agreed to this. The agreement aims to reduce controversial investment protection.
Impact on climate, environmental protection, health and the rule of law
CETA is only temporarily in force for five years, and many EU countries still have not ratified the agreement with Canada, which is much more than a simple trade agreement. Because it has broad regulations for many other areas and therefore will have implications for environmental protection, climate, health and the rule of law.
Are small and medium sized businesses at risk?
CETA critics – such as trade unions, environmental groups and the governing party The Greens – accused the agreement of subordinating everything to the economic interests of investors – even national jurisdiction.
CETA provides that investors can turn to international arbitration boards as soon as they see their interests at risk. Individual states would then have to bow to the decision of arbitral tribunals or pay higher fines. Since such processes are time consuming and costly, especially large companies will be able to afford them and not small and medium sized companies.
Fears of agricultural sell-off
For example, in agriculture, large agricultural corporations are likely to sell, for example when it comes to genetically modified food.
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