Bernard Durkan (Kildare North, Fine Gael)
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326. To ask the Minister for Jobs, Enterprise and Innovation the extent to which he and his Department continue to monitor progress in EU-US trade negotiations with a view to maximisation of benefit for Irish companies; and if he will make a statement on the matter. [15695/15]

Richard Bruton (Dublin North Central, Fine Gael)
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My Department and I are closely monitoring the progress of the Transatlantic Trade and Investment Partnership (TTIP) negotiations. Since these negotiations started with the US in 2013, eight negotiating rounds have taken place. The 9th round is taking place in New York this week from 20 to 24 April 2015. It is hoped that there will be substantial advancement in the TTIP negotiations in 2015. According to assessments made by the EU Commission, a comprehensive TTIP could over time boost EU GDP by 0.5% per annum bringing significant economic gains as a whole for the EU. This converts into 400,000 jobs across the EU. 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 in order to maximise any potential benefits for Irish companies and citizens.

A study commissioned by my Department estimates that these benefits in Ireland will be proportionally greater than in the EU as a whole. It suggests growth in Irish exports of almost 4%, increases in investment of 1% and increase in real wages of 1.5%. It estimates somewhere between 5,000 and 10,000 additional export related jobs. It also suggests that Irish small and medium enterprises (SMEs) will be particular beneficiaries.

Ireland’s interests in the TTIP negotiations will be assisted by the indications from this study. Our priorities include advancing regulatory cooperation and common rules which aim to make trade and investment easier especially for SMEs, and protecting our interests in any sensitive areas, including beef.

Ireland supports the Commission in these negotiations which aim to achieve an ambitious and comprehensive agreement contributing to growth and jobs both here and the EU. I will continue to promote our objective for a comprehensive, balanced agreement for the benefit of the long term development of our country.