CETA negotiations with Ottawa suspended over fisheries fund, N.L. says

Newfoundland and Labrador is suspending support for CETA and all trade agreements currently being negotiated with the federal government.

Darin King, the province's business minister, said the province's dispute with Ottawa over CETA — the Comprehensive Economic and Trade Agreement — is still focused on a controversial fisheries investment fund.

Newfoundland and Labrador says the federal government is not honouring a prior commitment to set up the fund, which it says will be needed to help the seafood industry when a trade deal with the European Union is approved...

"All trade agreements currently under negotiation by the federal government would not have any effect in matters within the jurisdiction of Newfoundland and Labrador.“

The letter described a history of the CETA deal, explaining the time period where the province felt that they were treated unfairly by Ottawa.

Meanwhile, International Trade Minister Ed Fast's office said Monday that the deal would bring "tremendous benefits" for both Canada and Newfoundland and Labrador, and the federal government plans to move ahead with ratification as soon as possible.

Fast's office said any exclusion of Newfoundland and Labrador would put the province at a "severe competitive disadvantage" in global markets.

"With almost 78 per cent of Newfoundland and Labrador’s economy dependent on international trade, anything that would delay or exclude Newfoundland and Labrador from taking advantage of any of Canada’s trade agreements would have a detrimental economic impact on the province," said Max Moncaster, press secretary to Fast.

"With regards to the MPR [Minimum Processing Requirements] fund, federal officials remain open to receiving proposals from their provincial counterparts on how to implement the MPR Fund. We have not yet received such a proposal."...

At a press conference Monday, King said the provincial government met with a number of embassy representatives, as well as other national and international groups, that have a stake in CETA.

According to King, many of these groups have expressed their intentions to support the province by putting pressure on the federal government...

King added the province feels it has gotten a favourable response from the groups and international representatives it has talked with...

Hutchings said that while breaking off negotiations may seem counterproductive to coming up with a solution, the province must stay committed to the original deal...

King said the provincial government is not willing to wait around indefinitely for some progress on CETA, and will cut off negotiations soon if the Harper government doesn't live up to their previous commitments.

"The timelines for us are very clear here. We're talking weeks, not months," he said...

This has been excerpted from a 19 January 2015 article by the CBC News.