Canadian Trade Minister Pushes for CETA Ratification with Successful Aerospace Sale

  • Canadian Trade Minister Mary Ng highlights De Havilland aircraft deal as a success story of Canada-EU trade relationship
  • Sale of 22 De Havilland water bombers to six EU members for $1 billion CAD
  • State-owned Export Development Canada provides up to $750 million in financial guarantees
  • CETA has led to the lifting of around 9,000 tariffs since 2017
  • Full ratification requires approval from all 27 EU member parliaments
  • France, Italy, Greece, and Poland have not yet endorsed CETA
  • Opposition to CETA has focused on investor-state dispute settlement, agricultural interests, and consumer/worker rights

Canadian Trade Minister Mary Ng emphasized the significance of a recent De Havilland aircraft sale to European states as an example of the benefits of the Canada-European Union Comprehensive and Economic Trade Agreement (CETA). The deal, which has yet to be fully ratified by EU parliaments, demonstrates the potential of the trade relationship between the two nations. De Havilland, a Canadian aerospace company, sold 22 water bombers to six EU members for approximately $740 million USD, with financial support from Export Development Canada’s $750 million in guarantees. CETA has led to the removal of around 9,000 tariffs since its provisional enforcement in 2017. However, only 17 EU member parliaments have endorsed the treaty so far, with France, Italy, Greece, and Poland yet to ratify it. Opposition has centered on investor-state dispute settlement, agricultural interests, and consumer/worker rights.

Factuality Level: 8
Factuality Justification: The article provides accurate information about the recent sale of De Havilland aircraft to European states and its relation to the Canada-EU trade treaty (CETA). It also mentions the ongoing ratification process and some of the opposition faced by the agreement. The information is presented in a clear and concise manner without any significant digressions, sensationalism or bias.
Noise Level: 3
Noise Justification: The article provides relevant information about a recent deal between Canada and the EU, highlighting the benefits of their trade agreement and the ongoing ratification process. It also mentions some opposition to the agreement from certain member states. However, it lacks in-depth analysis or exploration of long-term trends or consequences.
Public Companies: Export Development Canada (N/A)
Private Companies: De Havilland
Key People: Mary Ng (Canadian Trade Minister)

Financial Relevance: Yes
Financial Markets Impacted: No
Financial Rating Justification: The article discusses a financial transaction involving the sale of 22 De Havilland aircraft to European states for $740 million, and mentions the involvement of Export Development Canada providing financial guarantees. However, it does not directly impact financial markets or specific companies.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the article.
Deal Size: 740000000
Move Size: No market move size mentioned.
Sector: Technology
Direction: Up
Magnitude: Medium
Affected Instruments: Stocks

Reported publicly: www.marketwatch.com