Heather Humphreys (Cavan-Monaghan, Fine Gael) | Oireachtas source

On the economic sustainability assessment, as the Deputy knows, we have committed to carrying out same on this proposed trade deal. My Department, in conjunction with the Department of Agriculture, Food and the Marine, had previously contracted Copenhagen Economics, an internationally renowned trade and economics consultancy, via a public tender process, to undertake a study of the economic impacts and opportunities of recent and prospective EU-third country free trade agreements for Ireland. That study took a portfolio approach on the agreement with the Republic of Korea in 2011, through the agreements with Canada, Japan and Mexico as well as the prospective Mercosur agreement and the prospective agreements with New Zealand and Australia.

That work has been progressing well but has not yet been finalised as the Brexit dimension has been dynamic. Now that the economic and tariff terms of the Mercosur agreement have been concluded, the Department of Agriculture, Food and the Marine and my Department will work to agree specific terms of reference before engaging with our consultants to see if an additional bespoke analysis can be undertaken on the precise terms of the EU-Mercosur agreement to determine the impact and the opportunities presenting for Irish industry in the deal. This work will be undertaken by an independent consultancy specialising in economics and trade matters, and not by a Department of State. Copenhagen Economics, an internationally renowned and independent consultancy, is already engaged on free trade agreements.

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