As part of this internal agreement, it was agreed that the federal government should seek the opinion of the Court of Justice on behalf of Belgium. One of the concerns is the compatibility with European law of the investor-state dispute settlement mechanism, which is included in the Treaty. However, the Tribunal has not yet made a decision on this issue. Vanderhasselt said in an interview that Reynders had signed the agreement in the presence of CEcilia Malmstrom, EUROPEAN Trade Commissioner Mauro Petriccione, Chief Negotiator of the Commission for CETA, Olivier Nicoloff, Canadian Ambassador to Belgium. And Jean-Pierre Tanghe, president of the Belgian-Canadian Chamber of Commerce. The Parliament of the French-speaking southern Walloon region voted on Friday in favour of a draft trade agreement between the EU and Canada, ending its opposition that threatened to destroy the entire agreement. Cliffhanger`s story of the EU-Canada trade deal is seen as a bad omen for Britain after Brexit, which is seeking a trade deal with Europe. Fox, a prominent activist, said Ceta`s experience could prompt some to think twice before reaching a trade deal with the EU. “Those who put politics before prosperity may want to think twice,” he said. In a statement published on its website, the Council said: “The agreement contains a binding common interpretive instrument that explains what the provisions mean in practice.” Belgium on Thursday (October 27th) announced a breakthrough to save a free trade agreement between the EU and Canada, winning domestic holdouts that threatened to torpedo the deal and risked damaging Europe`s international credibility. On Thursday, the National Parliament approved the draft approval of the trade agreement between the European Union and Canada. The agreement is better known by the English acronym CETA (Comprehensive Economic and Trade Agreement).
The comprehensive economic and trade agreement, known as Ceta, which has been in Development for seven years, stumbled near the finish line, with strong opposition from the Belgian Regional Parliament of Wallonia. Paul Magnette, the Walloon Prime Minister who opposed the agreement, wanted to resume talks with Canada, but the EU institutions insisted that this was impossible. The Belgian compromise came too late for an EU-Canada summit scheduled for Thursday. Canadian Prime Minister Justin Trudeau was due to meet EU leaders Donald Tusk and Jean-Claude Juncker in Brussels, but decided at the last minute not to fly, as Belgian politicians argued over the deal late on Wednesday evening. “Trade agreements that allow investors to go to special courts and courts of law are not acceptable. We welcome the fact that the European Court of Justice is now ruling on the legality of the investment court system. If this system violates EU law, it will be the end of CETA as we know it,” added Paul de Clerck, Economic Justice Programme Coordinator at Friends of the Earth Europe. Belgian Prime Minister Charles Michel confirmed that the heads of state and government of five regional parliaments had agreed with the federal government shortly after noon on Thursday. He tweeted: the other 27 EU governments want to sign the agreement, which has been in the works for seven years.