Micheál Martin (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

99. To ask the Minister for Jobs, Enterprise and Innovation if there was a discussion at the October 2017 European Council opening with regard to increasing EU market presence in China and other Asian countries. [45045/17]

Frances Fitzgerald (Dublin Mid West, Fine Gael)
Link to this: Individually | In context | Oireachtas source

Given the many items tabled for discussion at the October EU Council meeting, there was only a brief discussion on Trade.  In that regard, I can confirm that as per the Taoiseach's recent statement on the European Council in the Dáil this week, increasing EU market presence in China and other Asian countries was not discussed at the EU Council.

China, however, remains an important market and is regarded as one of the most strategic destinations for Foreign Direct Investment by European companies – both at present and for the future.  A comprehensive EU-China Investment Agreement is under negotiation, which will provide Ireland and other EU Member States with increased market access.  Ireland is fully invested in this agreement and supports the European Commission in the ongoing negotiations.

In relation to trade with China, over recent years, Ireland has prioritised China as a marketplace with significant potential for Irish manufacturing and services.  Bord Bia anticipates that China will become Ireland’s 2nd largest market for food and drink exports in the coming years.  Successive Ministers and Taoisigh have led trade missions to China and we have also received visits from the highest levels of leadership from China to promote trade links between our two Countries.

Insofar as trade with the wider Asian market is concerned, with a small domestic market, further expansion in such markets is essential to Ireland’s continued economic growth.  Ireland will continue to support the EU’s ongoing negotiation of Free Trade Agreements with Japan, Vietnam and Singapore.  On the 6th July 2017 the European Union and Japan announced that they had reached a political agreement in principle regarding the Economic Partnership Agreement negotiations.  The Agreement will remove the vast majority of duties paid by EU companies and will open the Japanese market to key EU agricultural exports as well as increase opportunities in a range of sectors.  The European Commission is expected to present a proposal to the Council of Ministers in respect of the EU-Vietnam Free Trade Agreement in early 2018.  The European Commission is also in discussions with Singapore in order to finalise the remaining outstanding issues, so the Agreement can be concluded as swiftly as possible. 

The EU’s suite of Free Trade Agreements with third Countries help to open new markets, break down barriers and provide new opportunities for Irish firms.  Ireland will continue to support the EU’s ambitious programme of negotiating new Free Trade Agreements giving Irish Firms expanded market access and a predictable trading environment in third countries.