A Belgian regional assembly could derail a massive free-trade deal that would open Canadian miners to greater European investment.

The Comprehensive Economic and Trade Agreement (CETA) between Canada and the EU might not go through despite support from most EU countries.

Miners had been promised easier exports to Europe and a smoother route across the Atlantic for services and expertise-based branches of the industry.

The Mining Association of Canada has previously said the deal would also allow for greater European investment in Canadian companies.

Now, the Federation of Wallonie-Brussels parliament has voted down the deal. An EU commission decision means that national and regional parliaments in each member state will vote on the agreement.

France is acting as Canada’s proxy on the continent and working with the French-speaking region’s politicians on a change of heart, but the setback has frustrated Ottawa.

Canadian PM Justin Trudeau said the ability of the EU to bring in CETA would show whether it was worthwhile other countries trying similar deals.

"If, in a week or two, we see that Europe is unable to sign a progressive trade agreement with a country like Canada, well then with whom will Europe do business in the years to come?" he said according to CBC.

"In this post-Brexit situation where there are a great many questions about Europe’s usefulness, if Europe cannot manage to sign this agreement, then that sends a very clear message not just to Europe, but to the whole world, that Europe is choosing a path that is not productive for its citizens or the world. And that would be a shame."


Created from Mining Journal