The Latvian parliament, the Saeima, ratified the Comprehensive Economic and Trade Agreement (CETA) with Canada today, making the tiny Baltic country the first among 28 European Union member states to formally endorse the free trade deal.
The vote in the Latvian parliament follows the approval of CETA by the European Parliament in Strasbourg, France, on Feb. 15, 2017.
The vote on the free trade deal, which will eliminate almost 99 per cent of tariffs in trade between Canada and EU countries, coincided with visit to Latvian capital Riga by Canada’s International Trade Minister François-Philippe Champagne, who attended the Saeima session together with the Latvian Foreign Minister Edgars Rinkēvičs.
71 for, 5 against, 1 abstention – result in Latvian Parliament . With @FP_Champagne very much looking forward to LV-CAN cooperation #CETA pic.twitter.com/DFgWYWMRo2
— Artis Pabriks (@Pabriks) February 23, 2017
“Canada commends Latvia’s leadership on being the first to ratify this ground-breaking trade agreement,” Champagne said in a statement. “The successful passing of CETA in Latvia is an important step on the road to full ratification of an agreement that will bring prosperity to the middle class and those working hard to join it across Europe and Canada.”
In urging MPs to support CETA, which has attracted staunch opposition in parts of Europe and Canada, Rinkēvičs said the deal will facilitate Latvia’s exports to Canada, open new export opportunities and provide Latvian companies a valuable experience of operating in the North American market.
CETA is also essential for the strengthening of bilateral relations between Latvia and Canada, Rinkēvičs said.
According to figures provided by the Latvian Ministry of Foreign Affairs, Latvia exported about $25 million worth of products to Canada last year, mainly telecommunication equipment, food products, textiles, fish, chocolate, glass fibres, optical fibres, and furniture.
Merchandise exports from Canada to Latvia reached $224.1 million in 2016, Global Affairs Canada said. The seven-fold jump in Canadian exports in 2016 – compared with just $29.3 million in 2015 – was driven by the initial payment on the purchase of 20 Bombardier CS300 aircraft by Latvia-based airBaltic carrier.
Close defence ties
Canada and Latvia are also close NATO allies. Canada was one of the first countries to ratify Latvia’s accession to NATO in 2004.
At the NATO Warsaw Summit 2016, Canada announced that starting early 2017, it would become one of four Framework Nations and would lead a multinational battalion in Latvia.
The first Canadian troops are expected to arrive in Latvia in March or April, and the battle group’s formation might be completed by September.
“We are especially pleased about Canada’s decision to assume the duties of NATO’s framework nation in Latvia, Latvian Prime Minister Maris Kucinskis said during his meeting with Champagne. “This shows Canada’s readiness to provide a direct contribution to Latvia’s security and defence.”
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