Potential for jobs and growth boost can help secure agreement to start EU-US Trade Talks – Minister Bruton

Minister for Jobs, Enterprise and Innovation Richard Bruton is encouraging his fellow EU Trade Ministers to seize the opportunity to boost EU jobs and growth by agreeing at tomorrow’s (Friday 14th June) EU Trade Council to allow the start of EU-US trade talks.

Minister Bruton is the current Chair of the EU’s Trade Council. The Council is meeting tomorrow in Luxembourg and will consider a number of items including the EU-US Transatlantic Trade and Investment Partnership, EU-China trade and investment relations, the EU-Canada Trade Agreement and labour conditions in Bangladesh. Trade Ministers from all EU Member States will attend, as will the EU’s Commissioner for Trade Karel De Gucht.

Minister Richard Bruton said: “The priorities for the Irish Presidency are Stability, Growth and Jobs and an EU-US trade agreement holds massive potential in each of these areas. A comprehensive Trade and Investment Partnership could over time boost EU GDP by 0.5% per annum and help create approximately 400,000 jobs in the EU. I am encouraging my fellow EU Trade Ministers to keep this significant prize in mind when we meet tomorrow to discuss the EU mandate to start negotiations.”

“The transatlantic trading relationship is the most significant in our global economy, accounting for more than 15 million jobs on either side of the ocean. But its full potential is far from being tapped. A new deal offers significant opportunities to exporters in every EU country to export to the huge US market. This deal will spread the potential for new export jobs right across Ireland and It will also benefit US firms in Ireland who already employ over 115,000 people directly.”

“Reaching agreement among EU Trade Ministers on the terms of the EU’s negotiating mandate has been a top priority for the Irish Presidency, and the EU since the start of the year. That is why I have put in place a programme of one-on-one meetings with Trade Ministers from EU member states, with the Commission and the US administration.”

“The Irish Presidency has already done considerable work on the draft mandate that will be given to the Commission. This includes taking account of key interests of Member State in the EU’s negotiating position. We will continue to work with Member States on the text of the mandate in order to maximise the chances of agreement at tomorrow’s meeting.”