Since there is a crisis around CETA this week where the Wallonia region appears to be reluctant to sign the deal, I thought some economic numbers might be in place. It got me inspired by Politico who used rough community-level numbers for Belgium. Below you find my numbers:
The figure of Wallonia’s trade relations with Canada, compared to the rest of the EU, are astonishingly low with an overall figure of 0.45 percent. Note that I have been generous here with my back-of-the-envelope calculations.
In 2015, Wallonia seems to export more than it imports with Canada with a figure of almost 9.5 percent of total bilateral trade between Belgium and Canada. However, Wallonia barely imports anything from Canada, a low 1.37 percent of total bilateral trade between Belgium and Canada.
Now, a couple solutions to this puzzle might help explain Wallonia’s opposition. One, import-competing sectors are extremely powerful in this region. Second, Antwerp is in Flanders, not in Wallonia. Third, Wallonia’s current Minister-President has another agenda for which he likes to use CETA.