Dáil Éireann Debate, Tuesday - 19 January 2016
205. Deputy Mick Wallace asked the Minister for Jobs, Enterprise and Innovation if the Transatlantic Trade and Investment Partnership in its current form and, in particular, the regulatory co-operation provision, is weighted heavily in favour of corporations at the expense of citizens and; and if he will make a statement on the matter. [2338/16]
View answerThe EU-US negotiations have as their objective to strengthen and deepen the trade and investment relations between the two regions covering 40% of global economic output. The trade deal will stand to benefit business, large and small, and consumers. The negotiation in respect of regulatory cooperation will ensure that economic gains do not lower our high standards in the field of labour rights, the environment or consumer’s health and safety. This principle is built into the negotiating mandate which guides the Commission in these negotiations. The aim of the negotiations is closer cooperation by making present and future rules more compatible, reducing the cost of unnecessary red tape by making it easier for companies’ to comply with both EU and US laws while ensuring food, animal and plant imports are safe. Regulatory cooperation and coherence recognises the realities of globalisation and will make the trading landscape easier and more predictable, which is particularly important to SME’s to internationalise and grow exports.
