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World

EU, Canada sign free trade deal at last

Opening sequence

Opening sequence

World

EU, Canada sign free trade deal at last

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16:51
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COMING UP:EU, Canada sign free trade deal at last

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Transcript

00:00:01
>> Canada and the EU signing a trade deal at long last. Prime Minister Justin Trudeau flying into Brussels for the ceremony on Sunday, ending weeks of uncertainty and embarrassment.>> We are confident that demonstrating the trade is good for the middle class, and those working hard to join it throughout the region.
00:00:18
We'll make sure that everyone gets that this is a good thing for our economies, but it's also a good example to the world.>> For a while, the pact known as CETA looks like it might not happen when the Belgian region of Wallonia raised a series of late objections.
00:00:34
The tiny population, less than 1% of some 500 million people affected by the deal, put the whole process on hold, almost destroying more than 7 years of work. But after marathon talks last week, a few last-minute tweaks were able to win the region over.>> Now, please stand for the photo.
00:00:51
The finish line is still somewhere away, while CETA is likely to come into partial force next year. It still needs to clear about 40 parliaments around Europe. Once in full force, the deal will eliminate tariffs on almost 99% of goods. Back at say, it will boost bilateral trade by 20%.
00:01:07
Protesters think it gives too much power to multinationals.