Potential for 400,000 new jobs and boost to EU GDP of 0.5%
Friday 14th June 2013 – Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, today secured agreement among EU Trade Ministers that will enable the start of negotiations between the EU-US on a new trade deal.
Minister Richard Bruton said: “I am delighted to announce that we have reached agreement among EU Trade Ministers on the mandate to start talks on an EU-US Transatlantic Trade and Investment Partnership. Reaching agreement among EU Trade Ministers on the terms of the EU’s negotiating mandate has been a top priority for the Irish Presidency since January. 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.”
Minister Bruton - “I am delighted to announce that we have reached agreement among EU Trade Ministers on the mandate to start talks on an EU-US Transatlantic Trade and Investment Partnership."
“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 indigenous firms in all sectors to export to the huge US market.”
“I want to thank sincerely my fellow EU Trade Ministers for the commitment they have shown in recent months to reaching agreement on a mandate to allow negotiations to start.”
Minister Bruton was today chairing a meeting of the EU’s Trade Council in Luxembourg. Trade Ministers from all EU Member States attended, as did the EU’s Commissioner for Trade Karel De Gucht.