Written answers

Wednesday, 28 May 2014

Department of Jobs, Enterprise and Innovation

Trade Agreements

Photo of Bernard DurkanBernard Durkan (Kildare North, Fine Gael)
Link to this: Individually | In context | Oireachtas source

71. To ask the Minister for Jobs, Enterprise and Innovation the extent to which Irish interests are likely to be observed in the context of European-US trade discussions; if it is expected that the agrifood industry will not be detrimentally affected in the course of such talks; and if he will make a statement on the matter. [23497/14]

Photo of Richard BrutonRichard Bruton (Dublin North Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

The EU Commission is responsible for negotiating a Transatlantic Trade and Investment Partnership on behalf of the EU, and it is doing so on the basis of a wide mandate from the EU Council of Ministers. That mandate includes Irish interests. Since negotiations began formally in July last year, there have been five formal negotiating rounds, the latest of which took place last week in the US.

This is a comprehensive yet complex negotiating project. Despite five Rounds of talks having taken place, discussions are still at a comparatively early stage. While all aspects of trade and investment will be covered, it is very early in the process to say specifically what might finally emerge from the talks and the related implications for Ireland. What we do know is that the negotiations with the United States are aimed at eliminating tariffs, solving existing regulatory barriers that increase business costs, working to avoid the imposition of unnecessary regulatory barriers in the future, and opening new market opportunities for exporters in both economies. I expect that any progress on these will be in Ireland's long term interests and Irish companies should have easier, wider and less costly access to the US market.

As most of the potential gains from TTIP will arise from regulatory convergence and mutual recognition of the regulatory regimes on both sides of the Atlantic, to the extent that it is possible, Irish business and especially SMEs should benefit from lower regulatory compliance costs. All of this will provide significant opportunities for Irish businesses to increase their U.S. sales or enter the American market for the first time, as well as reducing the cost of consumer or industrial goods that we import. I know from my colleague, the Minister for Agriculture, Food and the Marine, that in addition to challenges, there is huge potential opportunity in TTIP for the agrifood sector. Right across the range of issues covered by TTIP, I will ensure we are best positioned to make the most from these and other trade and investment opportunities.

We are engaging in detailed analysis of specific opportunities and impacts for Ireland which informs our input to the ongoing negotiations. I will promote our objective for a comprehensive, balanced and extensive agreement that contributes strongly to economic growth, exports and job creation. The opportunities flowing from an historic trade and investment agreement with our largest bilateral trading partner are important for the long term development of our country.

Comments

No comments

Log in or join to post a public comment.