Marcella Corcoran Kennedy (Laois-Offaly, Fine Gael) | Oireachtas source

I wish to inform members of the committees that this meeting will be carried live on UPC channel 207, eVision channel 504 and Sky channel 574. I remind members, visitors and those in the Visitors Gallery to please ensure their mobile telephones are switched off for the duration of this meeting as they interfere with the broadcasting equipment even when in silent mode. Members are here this afternoon to discuss the Transatlantic Trade and Investment Partnership, TTIP, a potential European Union-United States trade agreement currently under negotiation. I welcome the Minister for Jobs, Enterprise and Innovation, Deputy Richard Bruton, and his officials to the meeting to discuss the Transatlantic Trade and Investment Partnership. I am delighted to be joined today by Deputy Andrew Doyle, Chairman of the Joint Committee on Agriculture, Food and the Marine and Deputy Seán Kyne, Vice Chairman of the Joint Committee on European Union Affairs, as well as other members of these committees.

In view of the cross-sectoral nature of this issue, members are delighted to have the opportunity to meet the Minister, Deputy Bruton, in joint session to discuss areas of particular concern to their respective committees. These concerns relate primarily to investment protection and investor-state dispute settlement, ISDS, mechanisms. There are fears that these basic investment protection rules allow for potential abuses. There also are concerns regarding the potential for job displacement, which, despite the potential overall increase in employment, may prove to be a difficult hurdle for some citizens. I am aware that despite these concerns, there also are many opportunities within TTIP. The key findings of the Copenhagen Economics report, TTIP impact in Ireland, are highly positive overall with a potential impact of a 1.1% increase in GDP. This is more than double the impact for the European Union as a whole. As matter of particular interest to the Joint Committee on Jobs, Enterprise and Innovation, the potential reductions in regulatory complexities and costs for exporters are welcome, especially as this is expected to benefit disproportionately small and medium-sized enterprises, SMEs. Today's discussion will be enlightening and will serve as a platform for the ongoing participation of the committees present today in analysis of the negotiations and in informing members' parliamentary colleagues on the contents and merits of the agreement when member states are asked to ratify the agreement. I now invite the Minister, Deputy Bruton, to make his presentation to the committees.