EU-US TRADE DEAL COULD SEE UP TO 10,000 JOBS
A new report claims a proposed trade agreement between the EU and the US would create between 5,000 and 10,000 jobs here.
Discussions are being held on the Transatlantic Trade and Investment Partnership (TTIP) today, which will make it easier for companies in the EU and the US to access each other’s markets.
The EU wants to remove the barriers to trade, such as lengthy administrative checks, that increase the cost of trade in goods.
The deal would also create ‘spill-over’ effects with benefits not directly related to trade.
For example, scrapping tariffs would lower the cost of the goods exported – which would increase sales – and mean more jobs to enable firms to produce more.
Concerns have been expressed about how the agreement could affect Irish businesses – but Minister Bruton says the EU will not sign any agreement that jeopardises public policy.
And he says that is why they have commissioned this research.
“So we could anticipate areas where we need to prepare for greater completion, and also plan fore the areas where there’d be new opportunities” he said.
“But it’s good for everyone: it’s good for workers – an increase of about 1.5 percent in real wages are projected – good for consumers, it’d represent nearly 1,200 euros per family in terms of more competitive product, or more income” he added.