CETA Trade Deal good for Ireland – Hayes

Trade currently between Ireland and Canada €2.7 billion – this will grow as a consequence of CETA

Dublin MEP, Brian Hayes has today (Thursday) welcomed the agreement reached between the Belgian Regional and Federal Governments on CETA, which will now allow the European Parliament vote on the trade deal in December.

Speaking from the European Parliament in Strasbourg, MEP Hayes said:

“I welcome today’s breakthrough in the CETA talks.  It is important that this deal has finally come through after 7 long years. Canada is Europe’s 12th most important trading partner with over €225 billion invested by the EU in the country. For every €1 billion of extra trade with Canada the EU creates 14,000 new jobs.”

“Trade deals are very important, especially for countries like Ireland. Ireland is the 5th largest recipient of Canadian outward investment. More than 80 Canadian companies are active in Ireland. In turn, there are 54 Irish companies operating in Ireland. In the last 10 years, we have doubled our exports to Canada. We have a trade surplus with Canada and this deal will help that surplus to grow even further in the years to come.”

“CETA will now give small Irish businesses the opportunity to compete in a procurement market worth €30 billion. It means the end of custom taxes and red tape for businesses.”

“The CETA agreement will become even more important for Ireland in a post Brexit world. With so much uncertainty on the UK trading position, it is important that Ireland has access to other markets such as Canada. I believe CETA is a win win situation for Ireland,” Concluded MEP Hayes.