Canadian Trade Minister Pushes for CETA Ratification Through 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 financing for the purchase
  • CETA ratification requires approval from all 27 EU member parliaments, only 17 have endorsed so far
  • Opposition to CETA 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 value of the trade treaty. De Havilland, a Canadian aerospace company, sold 22 water bombers to six EU members for approximately $1 billion CAD ($740 million USD), with financing from state-owned Export Development Canada up to $750 million. The agreement, struck in 2016 after seven years of negotiations, has led to the removal of around 9,000 tariffs on a provisional basis. However, only 17 out of 27 EU parliaments have endorsed CETA so far, with France, Italy, and Greece among those yet to ratify it. Critics cite concerns over investor-state dispute settlement, agricultural interests, and consumer/worker rights. Ng plans to continue working with the EU on member state ratification through showcasing successful trade deals like De Havilland.

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. However, it does not include any irrelevant or sensational details, redundant information, personal opinions presented as facts, invalid arguments, or logical errors.
Noise Level: 3
Noise Justification: The article provides relevant information about a recent deal between Canada and the European Union related to their trade treaty, with quotes from the Canadian Trade Minister Mary Ng. It also mentions some of the challenges faced in ratifying the agreement. However, it could have included more details on the specifics of the opposition to CETA and the potential consequences for both parties if the deal is not fully ratified.
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 aircraft to European states for $740 million and mentions financing provided by Export Development Canada. 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 text.
Deal Size: 740000000
Move Size: No market move size mentioned.
Sector: Technology
Direction: Up
Magnitude: Medium
Affected Instruments: Stocks

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