It appears more accurate to say that Canada and the EU want to work together more closely than they do now. There will be something more than CETA. Perhaps more shared standards on food, etc.. Likely more military procurement cooperation. Perhaps something akin to NATO style military cooperation, just in case NATO implodes*. Perhaps there will be some cooperation in trade disputes as well.

I suspect there is recognition that middle powers like the EU, Canada, Australia, etc. can do a better job of cooperating without everyone joining the EU and giving up an uncomfortable amount of sovereignty. Slightly more cooperation than currently exists may be all that's required for middle powers to do a better job of standing up to the supers.

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*NATO imploding is unlikely, but it's always good to have a fallback.