Dáil Éireann Debate, Thursday - 21 September 2017
49. Deputy Bernard J. Durkan asked the Tánaiste and Minister for Business, Enterprise and Innovation the extent to which new trading links for Ireland continue to be established globally; the extent to which it is expected that Ireland can benefit from such developments in the future; and if she will make a statement on the matter. [40093/17]
View answerWith a small domestic market, further expansion in other markets is essential to Ireland’s continued economic growth. Overall, export growth in Ireland in recent years has been exceptionally strong and exports continue to contribute positively to growth.
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. The EU-Canada Comprehensive Economic and Trade Agreement (CETA) which will be provisionally applied on the 21st September covers virtually every aspect of economic activity. It will remove over 99% of tariffs and will create sizeable new market access opportunities in services and investment in many sectors for Irish firms.
Irish firms will be able to bid for Canadian public contracts at the federal and sub-federal level. They will benefit from the recognition of product standards and certification, thus saving on ‘double testing’ on both sides of the Atlantic. CETA provides significant opportunities for the Irish dairy industry and has strong protections for our beef industry through restricted quotas for Canadian beef entering the EU. There are a wide range of sectorial opportunities for Irish firms in Canada, including financial software, telecoms, digital media, agricultural machinery and life-sciences and medical devices. The provisional application of CETA will ensure that Irish firms can immediately benefit from the Agreement and in turn generate jobs and growth for Ireland.
On the 6th July 2017 the EU and Japan announced that they had reached political agreement on the EU-Japan Economic Partnership Agreement. The agreement between the European Union and Japan will be the most important bilateral trade agreement concluded by the European Union. This trade deal has the potential to generate significant benefits for Ireland. Later this month I will be leading a Trade and Investment Mission to Japan which will intensify Ireland’s efforts in further developing the economic and trade links between Ireland and Japan, at this time of enhanced economic partnership. This mission will reinforce the potential for Irish companies in the Japanese market and provide a platform for accelerated export growth and investment opportunities.
On 13th September 2017, following the State of the Union address by President Juncker, the Commission punished its proposals for mandates seeking authorisation to open negotiations for Free Trade Agreements with both Australia and New Zealand.
However, the global trading environment is uncertain, particularly in light of Brexit and an increase in protectionist sentiment. The EU’s suite of Free Trade Agreements coupled with our programme of trade and investment missions have provided a key foundation on which to further build our strong economic and trading links in export markets and these will continue into the future.
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. To this end, I have also commissioned a major examination of the economic opportunities and impacts for Ireland arising from EU Free Trade Agreements including CETA. This study is expected to commence in October 2017.
