Mick Wallace (Wexford, Independent)
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13. To ask the Minister for Jobs, Enterprise and Innovation his views on the chapters of the Transatlantic Trade and Investment Partnership regarding regulatory co-operation; if he will provide a progress update on the latest negotiations at European Union level in relation to the Partnership; and if he will make a statement on the matter. [18405/15]

Richard Bruton (Dublin North Central, Fine Gael)
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I welcome the publication of the EU’s draft Regulatory Cooperation Chapter which is intended to provide the framework for ongoing regulatory cooperation under TTIP. This is an area where significant mutual gains can be made which will promote trade and job creation. It will be a particular area of interest for Ireland with our large pharmaceutical and medical device sectors, It offers all parties an opportunity to make input into this significant area on the TTIP. The revised regulatory cooperation text was tabled by the EU and is available on the EU Commission website along with a detailed explanation of the EU proposal. The chapters on Regulation first set out the potential benefits of regulatory cooperation in terms of:

- Jobs and growth

- More choice for consumers

- Stronger regulation, better enforced

- Greater influence on the international stage

They then demonstrate that such cooperation will not lower existing protection in the EU or in the US. It makes clear that nothing in a TTIP agreement will affect the right of either side to make new regulations, or undermine the procedures through which those regulations are made.

The detailed articles set out the general objectives and principles of cooperation. The key objectives are to facilitate trade and investment by removing unnecessary burden, promoting a transparent and predictable regulatory environment and promoting international cooperation. Some principles of good regulation are enshrined in the cooperation agreement such as early indication of plans, opportunity for consultation, sound impact assessment, development of an annual cooperation programme covering information exchange, identifying the scope for mutual recognition of equivalence, simplification or harmonisation. It also provides for the establishment of a Joint Regulatory Cooperation Body to facilitate their implementation of the cooperation agreement.

In addition, nine specific sectors have been identified as areas on which regulatory cooperation work can be carried out and mutual gains achieved. These are cars, pharmaceuticals, medical devices, cosmetics, engineering, textiles, chemicals, pesticides, ICT.

The EU and US work closely already in a number of areas. Air transport is one example of where common standards for safety and technical requirements are already in place, we have also agreed to recognise each other's organic food standards. The ultimate objective of these initiatives is to avoid duplication and to find ways to make our systems work more smoothly.

Regulatory compatibility and cooperation recognises the realities of globalisation and will make the trading landscape easier and more predictable. This will be particularly important in unlocking the potential of SMEs helping them to internationalise and grow exports as is reflected in my Department’s recent report on the impacts of TTIP on Ireland.