EU free trade talks just need ‘flexibility’

Canadian Trade Minister Ed Fast says negotiations with the European Union are relaunching early next month in a final push to complete a comprehensive deal, adding all that is needed is a “little flexibility” on both sides.

“Early in September we will be re-engaging, and there’s no reason to believe that with a little bit of flexibility on both sides that we can’t resolve the remaining outstanding issues,” Fast said

“There’s only a very small handful of outstanding issues and we’re trying to bring some creative approaches to try to bridge those gaps.”

He gave no specifics but sources have said the major stumbling blocks include the EU’s reluctance to allow more access for Canadian beef and pork, outstanding issues on drug patents, financial services and provincial procurements.

“We’re getting very close,” Fast said in a telephone interview from Brunei, where the minister was engaged in two other trade-liberalizing initiatives with the 10-nation ASEAN pact and the 12-country TransPacific Partnership.

The Asia-Pacific region includes some of the world’s fastest-growing major economies, while the European Union represents major countries such as Germany, Italy and the U.K. with long trading relationships with Canada.

Following the failure of the Doha round at the World Trade Organization, Fast said Canada is casting a wide net on its trade agenda, including reaching deals at the TPP and ASEAN, both of which have larger markets than Europe.

The government is also in talks with India and Japan and is expected to add Thailand to its list soon.

Fast agreed that the TPP is not at the advanced stage of the European talks, but did not rule out a conclusion of the technical talks this year.