CETA dead? Whom should be more worried, UK or Eurozone?
Discussion
davepoth said:
ATG said:
A large chunk of the Commonwealth is India. It is notoriously hard to trade with. The speed and incompetence of their bureaucracy is legendary. I've worked for businesses that tried to expand into Russia, China and India. They'd set up, got ripped off, and retreated from Russia and China before they'd even got permission to trade in India.
China used to be horrendous to do business with as little as ten years ago, but look at it now. A free trade deal will make it much easier in India (British companies will effectively be pre-approved to do business) but the trick is to get in on the ground floor. It's a challenge, but the potential upside is enormous. ATG said:
How many decades do you think it would take to negotiate a free trade deal with India? How many further decades do you want to wait until it is economically in a position to import the stuff we export?
India is going to be the next big market. The gold rush in China is over to a great extent, but in India we have a great opportunity. British brands are still perceived to be high quality and high status - look at the way Johnnie Walker is seen in Bollywood:https://bollywoodfoodclub.wordpress.com/johnnie-wa...
You can bet that Tata would rather that Jaguar Land Rover becomes the premium brand of choice there too, but it doesn't stop there.
The 9th best selling motorcycle in India (pretty impressive since it's more than twice the price (and power) of the no. 1 seller) is the Royal Enfield Classic 350. It's so popular because of the style, which is of course British - even though Royal Enfield is now an Indian company.
We've got history and culture going back more than a hundred years, and despite everything that we did in India we're still looked upon fondly. We share many fundamentals of our legal systems, and the trade flows (UK with a surplus in services and high value consumer goods, India with a surplus in raw materials and industrial goods) means that both countries could benefit well from a trade deal.
A trade deal can be finalised as quickly as we want it to be. India-Chile was two and a half years, for example.
http://commerce.nic.in/trade/international_ta_indc...
I laugh when ppl look at India as a saviour. For one thing, the money is very much concentrated within a very, very, very , small % of people, and those that don't have a middle class earning (a very, very, very, large % of ppl)will not start splashing out on any British made goods. Secondly, like China, there is a huge population and industries to protect , so we are not suddenly going to be exporting steel, cars, whatever, if that means job losses in those countries.
As for Indian bureaucracy, good luck.
As for Indian bureaucracy, good luck.
FN2TypeR said:
Jazzy Jag said:
So the EU is able to do a free trade deal without the need for the free movement of people and open boarders?
Yes but that's not quite the same thing as being a member of the single market.You cant do trade deals with others, you cant get rid of ECJ oversight and you cant have FMOL either if you are a member of the single market.
jsf said:
FN2TypeR said:
Jazzy Jag said:
So the EU is able to do a free trade deal without the need for the free movement of people and open boarders?
Yes but that's not quite the same thing as being a member of the single market.You cant do trade deals with others, you cant get rid of ECJ oversight and you cant have FMOL either if you are a member of the single market.
Harji said:
I laugh when ppl look at India as a saviour. For one thing, the money is very much concentrated within a very, very, very , small % of people, and those that don't have a middle class earning (a very, very, very, large % of ppl)will not start splashing out on any British made goods. Secondly, like China, there is a huge population and industries to protect , so we are not suddenly going to be exporting steel, cars, whatever, if that means job losses in those countries.
As for Indian bureaucracy, good luck.
Thing is, that very small percentage of well-off Indians maps to a very big number. And no-one has claimed India will be a saviour, so cut the straw man arguments.As for Indian bureaucracy, good luck.
Welshbeef said:
jsf said:
FN2TypeR said:
Jazzy Jag said:
So the EU is able to do a free trade deal without the need for the free movement of people and open boarders?
Yes but that's not quite the same thing as being a member of the single market.You cant do trade deals with others, you cant get rid of ECJ oversight and you cant have FMOL either if you are a member of the single market.
jsf said:
Welshbeef said:
jsf said:
FN2TypeR said:
Jazzy Jag said:
So the EU is able to do a free trade deal without the need for the free movement of people and open boarders?
Yes but that's not quite the same thing as being a member of the single market.You cant do trade deals with others, you cant get rid of ECJ oversight and you cant have FMOL either if you are a member of the single market.
Around half of the overall rise in the EU's economy from CETA is expected to come from opening up trade in services.
CETA will bring new opportunities for European companies by creating access to the Canadian market in key sectors such as:
financial services
telecommunications
energy
maritime transport
Overall, the EU economy could increase by €5.8 billion each year once the agreement is fully implemented.
The agreement will help the temporary movement of key company personnel and service-providers between the EU and Canada. This is particularly important for firms with overseas operations.
Certain categories of professionals will also have easier access to temporarily supply services such as consultancy in a variety of sectors like accounting, architecture or engineering. In engineering in particular this access will make it easier for companies to carry out after-sales maintenance and monitoring.
The agreement provides a framework for mutual recognition of qualifications in regulated professions in the future. At the moment, the lack of coherent requirements for professionals remains a challenge, especially for providing cross-border services.
Under CETA, the relevant professional organisations or authorities in the EU and Canada will be able to further work together on the technical details for recognising diplomas. This will help more workers from the EU to practise their professions in Canada, and vice-versa.
http://ec.europa.eu/trade/policy/in-focus/ceta/
don'tbesilly said:
Overall, the EU economy could increase by €5.8 billion each year once the agreement is fully implemented.
Excuse me if I'm being silly here, but in international macroeconomic terms isn't that about the equivalent of you or me earning an extra £58 a year. i.e. 3/10 of jacks
t.drainbrain said:
Excuse me if I'm being silly here, but in international macroeconomic terms isn't that about the equivalent of you or me earning an extra £58 a year. i.e. 3/10 of jackst.
0.3% of GDP by my calculation, and that's using the smaller number for GDP. George Osborne lost more than that down the back of the sofa last year. t.FN2TypeR said:
Jazzy Jag said:
So the EU is able to do a free trade deal without the need for the free movement of people and open boarders?
Yes but that's not quite the same thing as being a member of the single market.It's what the UK wants, though apparently the BBC and 'Remoan' whiners insist that this just isn't possible. Clearly, it IS possible to get pretty much unfettered access to tariff free trade with the European Single Market without accepting the free movement of people and open borders part.
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