Take a decade, say ministers
Sir Andrew Cahn, the former head of UK Trade & Investment, warned that Britain could have to wait five years before a post-Brexit trade deal with the EU is secured.
He told BBC Radio 4’s that Britain would have to secure “interim” arrangements while all of the 27 EU countries agree the fine detail of any deal. In an effort to save the Canada deal, Mr Schulz had conducted an emergency meeting with Paul Magnette, the Walloon premier.
“The door for every step forward is open but it’s quite clear that the problems on the table are European problems. In my eyes, there are no problems that cannot be resolved,” he said.
However, Mr Magnette said his discussions with Canada were concluded and the remaining issues to be worked out were for the EU executive to address.
“We have still some little difficulties among Europeans. We won’t hide that so we still have to work and discuss for a certain amount of time,” he said.
Wallonia is home to less than 1 percent of the 507million Europeans who would be affected by the deal, but the EU’s flagship trade project rests on the will of its government.
Walloons have concerns about the threat of surging pork and beef imports from Canada and an independent court system to settle disputes between states and foreign investors, which critics fear hands power to multinationals.
In Brussels on Friday, Theresa May, the Prime Minister, had made clear that she believes the Canada-EU trade deal is “very important”.
It is unclear when talks between Canada and the EU will begin again.