Friday, October 18 16:04:47
Richard Bruton, Minister for Jobs, Enterprise and Innovation today welcomed the conclusion of long-running talks on a trade and investment protection agreement with Canada.
Speaking from Luxembourg where he is attending a meeting of EU Trade Ministers, Minister Bruton said: "This agreement with Canada is really good news for our exporters. New markets will be opened in Canada and tariffs on nearly all of our exports there will be removed. The deal is good news for the economy and nearly every business sector in Ireland will benefit."
"Canada is a very important trading partner for us. Canada represents a natural trading opportunity for many of our ambitious and innovative enterprises. It is a market with the same language, similar economic traditions and enjoying strong growth."
"Expanding our E2.7 billion trade with Canada will create more jobs and help accelerate our economic recovery. This deal will bring our business and economic relations with Canada to a higher and more profitable level. Our goods exports to Canada have more than doubled since 2006. This new agreement will help exporters in every part of Ireland win more business across the Atlantic. This agreement has the potential to add over E200 million in our bilateral trade with Canada. "
Commenting on the wider benefits of the agreement the Minister said: "This deal is a major milestone in making it easier and less costly to trade and invest with one of the most important Atlantic economies. Under the Irish Presidency of the EU, a mandate was given to the EU Commission to start economic partnership talks with the U.S. This agreement with Canada not only gives an important boost to transatlantic commerce and economic integration, it gives a boost to the talks now underway with the U.S."