Finland's new ambassador to Canada, Hanna-Leena Korteniemi, is optimistic about the future of the Canada-EU Comprehensive Economic and Trade Agreement (CETA), emphasizing its benefits and calling for full ratification by all EU members. She highlights Finland's experience as a successful example, noting a 33.5% increase in bilateral trade since CETA's provisional application. Ambassador Korteniemi acknowledges that while CETA is largely in force, some key investment sections remain unutilized due to incomplete ratification. She stresses the importance of full ratification for businesses on both sides of the Atlantic, as it provides certainty and encourages investment in Canada-EU trade. Korteniemi also sees CETA as a valuable tool for Canada in navigating challenging trade relations with the United States.
After seven years without the complete ratification of Canada’s trade pact with the European Union, Finland ’s new top diplomat in Ottawa says she hopes that last hurdle can be cleared. As Canada faces continued trade threats in its crucial north-south trading relationship with the United States, some have looked to its east-west links, including to Europe.
The Canada-EU Comprehensive Economic and Trade Agreement (CETA) has been provisionally in force since September 2017, but 10 countries remain laggards in ratifying the pact. New Finnish Ambassador to Canada Hanna-Leena Korteniemi said her country is a “poster girl” for the benefits of CETA. Finland ratified the pact in 2018. Bilateral trade was $2.4-billion in 2023, which represents an increase of 33.5 per cent since the agreement was provisionally applied, according to Global Affairs Canada. Korteniemi said Finland is speaking with EU members who have yet to ratify CETA to trumpet its benefits. “In many cases, we’re actually the ones talking to the rest of EU members, ‘that there are so many benefits that you really ought to have a look at this and see what the benefits are, and work on the ratification,” she told The Hill Times during a Feb. 5 interview at Finland’s Metcalfe Street Embassy. “Unfortunately, there are still countries who have not.” She said the issue is a “standing speaking point” for Finland. Former CETA negotiator Steve Verheul has argued for the full treaty to be ratified. While CETA is largely in force, investment sections remain omitted. Canada’s CETA chief negotiator Steve Verheul penned a December Policy Magazine op-ed with Mark Camilleri, special EU adviser to the Business Council of Canada, in which they argue that without full ratification there is uncertainty as it “is not unreasonable for businesses on either side of the Atlantic to question the value of investing more into Canada-EU trade if there is a risk that the agreement will not last.” The pair also argued that full ratification would give Canada increased leverage when negotiating with the U.S. Asked if she is confident that CETA would be fully ratified, Korteniemi responded that she is hopeful it will be. “In the world that we’re living in right now, I think we really should be looking at likeminded partners like Canada,” she said. EU members have also faced the threat of tariffs from U.S. President Donald Trump. “We, of course, think that the negotiating path is the way to go forward, and not to have trade wars or anything of sorts,” Korteniemi said. Korteniemi to cheer on Finns in Montreal The new Finnish envoy said an important part of her mandate is promotion of all things Suomi—from saunas to icebreakers, forestry management, and hockey. Korteniemi will be in Montreal for the Four Nations Face-Off hockey tournament to cheer on Finland as they battle the U.S. on Feb. 13, and Sweden on Feb. 15. The Canada-Finland game will be on Feb. 17 in Boston. “I have not passed a conversation without talking about hockey,” she said. Ambassador Hanna-Leena Korteniemi will take in two of Finland's Four Nations Face-Off games this month. Korteniemi’s new posting is her first as ambassador. Previously, she was the director of the Finnish Foreign Ministry’s North America unit. She has had two previous postings in the U.S. at Finland’s Embassy in Washington, D.C., as well as its United Nations mission in New York City. She presented her letter of credence to Governor General Mary Simon on Jan. 15. In November, Finland concluded a deal with Canada and the U.S. to share expertise and strengthen each nation’s icebreaking industries—Icebreaker Collaboration Effort, known colloquially as the ICE Pact. “Trilaterally, we are working on the implementation,” said Korteniemi, who was involved in the negotiations in her past post. “I’ve been working on this file for quite some time, and there’s a lot of hope and promise on the icebreaker collaboration with both countries,” she said. In 2023, Quebec’s Davie Shipbuilding purchased the Helsinki Shipyard. Korteniemi said that allies have been approached to gauge interest in buying icebreakers from the trilateral collective
Trade CETA Canada-EU Trade Agreement Finland EU Trade Negotiations Investment North America International Trade Ambassador Hanna-Leena Korteniemi
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