A trade deal between the EU and Canada is on the brink of collapse because a Belgian region with a population of just 3.6 million opposes it.
An emotional Canadian Trade Minister Chrystia Freeland left the talks in Brussels, saying the EU was “not capable” of signing a trade agreement, reports the BBC.
Belgium, the only country blocking accord, The Comprehensive Economic and Trade Agreement (CETA) is a proposed free-trade agreement between Canada and the European Union, needed consent from the regional parliament of Wallonia.
The wide-ranging deal, seven years in the making, was to be signed next week.
Negotiations began in 2009 and ended in August 2014. The deal aims to eliminate 98 percent of tariffs between Canada and EU.
It includes new courts for investors, harmonised regulations, sustainable development clauses and access to public sector tenders.
The deal is opposed by various groups, including environmental activists, trade unionists and Austrian Socialists.
BDST: 0811 HRS, OCT 22, 2016
SR