Minister Bruton pushes for fresh impetus into EU-US trade talks
Minister for Jobs, Enterprise and Innovation, Richard Bruton TD is to urge EU trade minister colleagues and the EU Commission to inject fresh impetus into talks on a EU-US trade and investment deal.
He made this commitment before going into EU Trade Council discussions today, 21 November, which will include new EU Trade Commissioner Cecilia Malmstrom giving a progress report on the talks with the US.
Talks between the EU and the US on the Transatlantic Trade and Investment Partnership (TTIP) started in 2013, under Minister Bruton’s chairmanship as part of the Irish Presidency.
On visit to Washington DC in late October, Minister Bruton met Mike Froman, US trade representative who is leading negotiations on the US side, in an effort to inject impetus to the talks following the conclusion of elections in the US and the EU.
The EU Commission, led by Commissioner Malmstrom, are leading the negotiations on behalf of the EU now.
Speaking before the EU Council meeting, Minister Bruton said: “At a time of high unemployment and sluggish growth across the EU we must vigorously pursue all potential sources of growth and jobs.
“A comprehensive trade and investment deal with the US would add 0.5pc to EU GDP and create 400,000 extra jobs. Due to our strong ties with the US economy, Ireland stands to benefit disproportionately from such a deal, and research shows that it could add 1.1pc to our GDP. This would mean thousands of badly-needed extra jobs being created here.”
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