Eric Byrne (Dublin South Central, Labour) | Oireachtas source

I welcome the Commissioner. She is aware, as she received a copy of our previous debate, that we have discussed this issue at great length and submitted a paper on it.

I wish to put some basic questions. We have significant trade links with America and have been very successful with our direct foreign investment, with huge pharmaceutical industry and the technology sector. What is the Commissioner's attitude in regard to Ireland vis-à-visthe ISDSs? We have had American investment and have invested almost as much ourselves in America. What mechanisms have been in place and why are we so vulnerable or why need we be so nervous about the concept of ISDSs if we have already had such success to date?

Will the Commissioner give us her view on the current position regarding genetically modified organisms? We are very proud of our agricultural sector, are proud of gaining access for our prime beef to the American market and would be loth to see the standard or quality of our foodstuffs drop. The Irish Farmers Association has argued there should be an equivalence of standards. The standards should be the best and highest available. I am conscious, for example, that the Irish Medicines Board and the US Food and Drug Administration constantly monitor pharmaceutical production to a high standard.

We are in a unique position and geographically Ireland can greatly benefit from a trade agreement. If we simply accept what we have been told to date, that there could be a benefit of €115 billion to Europe, of €545 per family in Europe, we would be crazy to reject it.

Can the Commissioner stand over those figures and the net benefit to Europe and to Ireland?