Dáil Éireann Debate, Thursday - 18 October 2018
40. Deputy Thomas P. Broughan asked the Minister for Business, Enterprise and Innovation the status of the Comprehensive Economic and Trade Agreement; and if she will make a statement on the matter. [42550/18]
View answerThe 21st September 2018 was the first anniversary of provisional application of the EU – Canada Comprehensive Economic Trade Agreement (CETA). It is important to have CETA enter into force provisionally so that Irish companies may take advantage of the Agreement, which removes customs duties, substantially improves access to the Canadian public procurement market, opens up new sectors of the Canadian services market, reduces regulatory barriers and provides more transparent rules for market access.
It is important to note that the provisions relating to investment protection and the Investment Court System are excluded from provisional application. This means Ireland or other Member States will not be bound by these provisions until they are ratified by all Member States in accordance with their national law.
In this regard, given the request by Belgium for an Opinion (1/17) from the Court of Justice of the European Union (CJEU) on the compatibility of the Investment Court System in CETA with the European Treaties, my Department awaits the CJEU opinion on this matter which will inform our plans for ratification.
Ireland already has a strong trading relationship with Canada which is reflected in the €3.2 billion worth of annual trade between both countries. The value of Irish exports to Canada is worth €2.4 billion whilst the value of Irish imports from Canada is worth €780 million. I welcome the provisional application of CETA which will provide increased opportunities for new and existing Irish companies trading with Canada to build and develop further these relationships, providing increased growth and jobs.
