Informal meeting of Trade Ministers in Dublin:
- extracts from the joint press conference by Richard BRUTON, Irish Minister for Jobs, Enterprise and Innovation, and Karel de GUCHT, Member of the EC in charge of Trade
Lieu: Dublin, Ireland - Dublin Castle
End production: 18/04/2013 First transmission: 18/04/2013
As part of the Irish Presidency of the Council of the European Union, Karel de Gucht, Member of the EC in charge of Trade
the Chair of the Trade Council, Minister Richard Bruton TD, held an Informal meeting of EU Ministers for Trade in Dublin on Thursday 18th April 2013. The agenda will include discussions of EU trade matters, including the potential of a new Free Trade Agreement with the US, as well as discussions about trade relations with some of the EU's most important trading partners.
Only the original language version is authentic and it prevails in the event of its differing from the translated versions.
||Arrival of the speakers
||SOUNDBITE (in English) by Richard Bruton, Irish Minister for Jobs, Enterprise and Innovation: We had an opportunity to have a very broad based discussion about the opportunity to have EU-US Trade agreement. That would be dynamic that would go well beyond the formal approach of trade agreements in the past. That would envisage the capacity to evolve regulations in a way that would be mutual recognition so that would be a dynamic and living agreement rather than just dealing with a couple of non trade barriers.
||General view of the meeting
||SOUNDBITE (in English) by Richard Bruton: Clearly the potential benefits for Europe are very substantial from such a trade agreement. The economists who have done assessments have indicated that being optimistic we can have a 120 billion of GDP in the European Union. On a less ambitious it would be 70 billion but even with this we could have been talking about 400.000 additional jobs in Europe to put that in comparative with Ireland it would represent 800 million additional GDP and 4.000 additional job opportunities.
||SOUNDBITE (in English) by Karel de Gucht, Member of the EC in charge of Trade
I just would like to highlight some issues. First of all, our joint objectives are very clear. We want to dismantle any remaining tariffs but also tackle behind the border issues such us differences in regulations, standards and certifications. What would this mean for Europe's economy overall? We should have in mind that EU US trade relationship is already now the biggest on the world, is the trade highway in the world, everyday we trade gods and services worth to 2 billion Euros, on a daily basis, which is enormous. So every tariff and every technical product aligned will result in million of Euros of savings to companies and create thousands of hundreds of jobs.