Dáil Éireann Debate, Thursday - 16 October 2014
33. Deputy Mick Wallace asked the Minister for Jobs, Enterprise and Innovation if he will address the threat to Irish jobs posed by the Transatlantic Trade and Investment Partnership negotiations currently under way between the EU and the US (details supplied); and if he will make a statement on the matter. [39300/14]
View answerAccording to assessments made by the EU Commission and other European bodies, a comprehensive Transatlantic Trade and Investment Partnership could over time boost EU GDP by 0.5% per annum bringing significant economic gains as a whole for the EU. This agreement will provide a significant injection of economic activity and consequently bring new job opportunities.
I have indicated in replies to previous Parliamentary Questions some of the tentative and preliminary findings from the study commissioned by my Department, concerning the economic and other impacts and potential opportunities for Ireland. These suggest an additional 1.1% increase in GDP, higher than the estimated GDP gain from TTIP for the EU as a whole. This also means job opportunities for Ireland.
This is an ongoing negotiation. I fully intend to work at securing the best deal for Ireland by the end of these negotiations, bearing in mind our sensitive beef sector, and the opportunities that would be opened up for our important dairy industry.
This trade and investment agreement will build on the deep economic and wider relationship we have with the US, and will create jobs by opening up further opportunities in the US market for Irish business, including agri-business.
