CHAMBERS NEWS TTIP
we talk about SMEs in TTIP, we have to differentiate between provisions in the future agreement that are so to say pure ‘trade’ provisions, and others which are more of a ‘tradesupporting’ nature.” It is vital that negotiators on both sides establish mechanisms within the agreement that would easily facilitate SMEs’ participation in transatlantic trade after the TTIP takes effect. Provisions could also include a committee that would engage with the small business community and the development of web-based information and other resources to help SMEs understand the provisions of the agreement and how they can benefit from it.
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Q: How can TTIP help Ireland? A: Exports have performed strongly in Ireland over the past several years, even when other sectors of the economy have struggled. It is for this reason that the TTIP could have massively positive implications for the Irish economy. The DJEI has reported that because the country already maintains strong trade links with the US, Ireland could benefit from TTIP more than double the European average and current projections estimate that more than 1.1 per cent could be added to Irish GDP. Successful negotiations could also add a800 million a year to the Irish economy and ultimately create 4,000 jobs. Sectors which would particularly benefit
Negotiators are working to ensure that SMEs are in a position to take full advantage of the opportunities that an agreement would provide. As part of this effort, there have been discussions on how best to frame the TTIP so it will be easily accessible and understandable to a company hoping to benefit.” in Ireland include key employers like life sciences, ICT and manufacturing. Ireland’s goods and services exporters, particularly SMEs, would also see a benefit from reductions in tariff as well as non-tariff barriers.
Q: Where to go from here? A: At present there is no timeframe for when negotiations are likely to conclude. However, it is imperative that Irish exporters are prepared
if they are to be in a position to fully take advantage of these proposals. Organisations like Chambers Ireland and partners such as Eurochambres and the International Chamber of Commerce will be working hard to brief our members on the ongoing negotiations and potential implications for Irish trade so that Irish business is best placed to fully reap the proposed benefits of the TTIP.
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