Bríd Smith (Dublin South Central, People Before Profit Alliance)
Link to this: Individually | In context | Oireachtas source

476. To ask the Minister for Jobs, Enterprise and Innovation her views on the upcoming Comprehensive Economic and Trade Agreement and its implications for Ireland; and if she will make a statement on the matter. [31818/16]

Mary Mitchell O'Connor (Dún Laoghaire, Fine Gael)
Link to this: Individually | In context | Oireachtas source

The EU-Canada Comprehensive Economic Trade Agreement (CETA) represents a modern high standard Agreement which has the ability to set a new global standard for Trade Agreements. It will increase access to public contracts, open up markets for services and offer predictable conditions for investors. For the first time, Canadian provinces, territories and municipalities will open their procurement markets to a third country, going well beyond what Canada has offered previously. Canada’s provincial procurement market is estimated to be double the size of its federal equivalent.

CETA will save on duty costs as 99.6% of all industrial tariffs will be eliminated on entry into force. Irish firms will also benefit from the recognition of product standards and certification, thus saving on ‘double testing’ on both sides of the Atlantic. These are some of the benefits of the trade deal with Canada as well as providing new market opportunities in many sectors for Irish firms.

Over the years, Ireland has developed an important pig meat export trade to Canada, there is now potential to develop the export businesses for Irish beef and lamb also. The removal of the Canadian 26.5% import tariff is significant.

The issue of growing market share in other markets is made even more important by the result of the UK referendum on its membership of the EU. CETA and the EU’s other trade agreements help to open new markets, break down barriers and provide new opportunities for Irish firms.

Ireland stands to gain substantially from this agreement and I am looking forward to Irish firms enjoying the benefits and new opportunities as soon as possible.