Driving Greece’s growth and prosperity through CETA

By Constantine Passaris *

The agreement in principle of a free trade deal between Canada and the European

Union (EU) sets a new gold standard for international trade agreements. The Comprehensive Economic and Trade Agreement (CETA) promotes the free movement of goods, services, investment and labour. It also includes areas of economic engagement that have never been covered by previous international trade agreements such as intellectual property and government procurement.

Greece as a member of the European Union is in a privileged position to take advantage of this remarkable economic opportunity – one which is a building block of the 21st century global economy. Indeed, CETA can provide Greece with a foundation to further develop its economic relationship with Canada and contribute towards expanding trade, attracting investment, creating jobs and growing the Greek economy.

The new global economy rests on three pillars: globalization, trade liberalization and the information technology and communications revolution. Globalization has melted national borders. Free trade has enhanced economic integration. The information technology revolution has made geography and time irrelevant.

Why should Greece care about CETA at a time when it is facing major economic problems such as its fiscal challenges, high unemployment and economic stagnation? International trade can be a driver for growing the Greek economy, increasing government revenues, creating new job opportunities, attracting foreign investment and know-how and creating new revenue streams to support social programs.

Greece and Canada have a long and amicable history of working together on social, cultural, political and economic issues. The two share a strong bond...