12:14 GMT +319 October 2019
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    German Chancellor Angela Merkel (File)

    CETA, TTIP Chance for EU, North America to Set Standards for Globalization

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    The Comprehensive Economic and Trade Agreement (CETA) between the European Union and Canada as well as the EU-US Transatlantic Trade and Investment Partnership (TTIP) are a chance for Europe and North America to set standards for future globalization, German Chancellor Angela Merkel said Tuesday.

    MOSCOW (Sputnik) – The CETA aims to establish a free trade zone between Canada and the European Union. In 2013, Ottawa and Brussels reached an agreement on key elements of the deal. The deal was signed by Canadian Prime Minister Justin Trudeau, European Council President Donald Tusk and European Commission President Jean-Claude Juncker in October.

    "We as Europeans have a common interest with the North American market through CETA with Canada and possibly [through TTIP] with the United States — that we [together] with the American continent set the standards for the future globalization," Merkel said at the meeting of the Confederation of German Employers' Associations (BDA).

    The controversial TTIP free trade agreement has been under negotiation since 2013 between the United States and the 28-member bloc. It has been repeatedly criticized by its opponents for the lack of transparency in the negotiations as well as for the tremendous power it would potentially give to international corporations.


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