CETA is Canada`s largest bilateral initiative since NAFTA. It was launched following a joint study entitled “Assessing the Costs and Benefits of a Closer EU-Canada Economic Partnership”, published in October 2008. Officials announced the opening of negotiations on May 6, 2009 at the Canada-EU Summit in Prague   Following the Canada-EU Summit held in Ottawa on March 18, 2004, at which Heads of State or Government agreed on a new framework for a new Canada-EU Trade and Investment Promotion Agreement (TIEA). The TIEA should go beyond traditional market access issues and cover areas such as trade and investment facilitation, competition, mutual recognition of professional qualifications, financial services, e-commerce, temporary entry, small and medium-sized enterprises, sustainable development and exchange of science and technology. The TIEA should also build on a framework for regulatory cooperation between Canada and the EU to promote bilateral cooperation on regulatory approaches, promote best regulatory practices, and facilitate trade and investment. In addition to removing barriers, the TIEA is expected to increase Canadian and European interest in other`s markets.  The TIEA lasted until 2006, when Canada and the EU decided to halt negotiations. This led to negotiations for a Canada-European Union trade agreement (later renamed the Comprehensive Economic and Trade Agreement or CETA) and this agreement will lead, beyond the TIEA, to an agreement whose scope is much broader and more ambitious. (b) non-contractual agreements or any form of assistance provided by a contracting party, including on 26 March 2014, the Federal Minister for economic affairs, Sigmar Gabriel, wrote an open letter to the European Commissioner for Trade, Karel De Gucht, in which he stated that investment protection was a sensitive central point that could ultimately decide whether a transatlantic free trade agreement would be approved by Germany. He also said that investment arbitrage between countries with well-developed legal systems was unnecessary. including payments made under a loan agreement; the qualified supplier may, by mutual agreement between the 9 With regard to matters relating to the multilateral agreements referred to in Article 23(3), Group of (c) shall rely on an agreement or arrangement with the third country. 1. The Parties recognise the value of international environmental policy and international environmental agreements, as this Chapter builds on an existing regulatory cooperation agreement between the EU and Canada.
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