The EU`s analysis of the economic impact of the Comprehensive Economic and Trade Agreement shows that it has the potential to create new business opportunities in Canada for businesses across the EU. The EU has analysed the social, environmental and economic impact of a possible trade agreement with Canada as part of a Sustainable Development Impact Assessment (SIA) When the transitional period ends on 31 December 2020, the UK will no longer be bound by EU treaties with third countries, including CETA. Bilateral trade between Canada and the United Kingdom would no longer benefit from CETA preferences and would be based on World Trade Organization (WTO) rules, including most-favoured-nation (NATION RIGHTS) rights on products until the entry into force of the Canada-United Kingdom Trade Continuity Agreement. While negotiations scheduled for this month on the so-called EU-US Transatlantic Trade and Investment Partnership have been postponed following the US government shutdown, the European Commission has received acquiescence from trade ministers across the EU to start negotiations for an investment deal in China. Discussions are expected to start at next month`s EU-China summit. Closer countries tend to trade more, especially with goods, and this is the case with the UK and the EU. The EU does not have a free trade agreement with Australia. They are in negotiations, but they are currently working mainly according to the rules of the World Trade Organization (WTO). Canada`s trade commissioners provide expert advice and important contacts for exporters, partners and investors. In September 2017, Belgium asked the Court of Justice of the European Communities whether CETA`s dispute settlement system was compatible with EU law. The agreement can only enter into force when the ECJ has delivered its opinion or if the ECJ considers that the ECJ is incompatible with EU law. [11] On 30 April 2019, the Court of Justice of the European Communities issued its opinion that the investor-state dispute settlement system in the area of CETA was compatible with EU law.

[12] At the end of the transitional period, trade conditions between Canada and the United Kingdom will be governed by the Agreement on the Continuity of Trade between Canada and the United Kingdom (Canada-UK TCA). Once the Canada-UK TCA is in force, Canadian companies will see little or no change in the conditions under which they negotiate with the UK after January 1, 2021. . . .