CETA: 31 million European jobs depend on trade

Seán Kelly MEP and Ireland's only Member of the European Parliament's International Trade Committee has said it is crucial that the Canada-EU trade deal goes ahead, as talks continue to secure the deal. It is estimated that the EU-Canada deal will increase EU exports to the value of €17 billion to Canada and equate to €11 billion in real income gains for Europe seven years after the deal.

“Trade means more production, more jobs, and better salaries as a growth engine and economic stimulus. While we must evaluate all aspects, according to trading mandates granted, let’s not forget that 31 million jobs in the EU depend on our trade performance,” Mr Kelly said.

Trade between Ireland and Canada was valued at €2.75 billion in 2015. Canada receives almost a quarter of Ireland’s foreign direct investment abroad, while Ireland is the fifth-largest recipient of Canadian investment.

“The EU needs to be able to trade. Following the free trade agreement with South Korea, EU exports in goods and services grew by 55pc and 40pc respectively. The total amount of exchanges with South Korea is €15 billion. Thanks to the agreement with South Korea, 210,000 jobs were created in Europe," said Kelly, the Leader of the Fine Gael delegation in the European Parliament.

The EU has given assurances that it will keep its high standards and national governments’ right to regulate is fully protected. CETA will not introduce obligations that would limit the ability of the EU to maintain or change its existing regulatory framework for GMOs, affect existing EU bans on products containing hormones or force the EU to accept chlorinated chicken.

“Canada is a very European country in terms of its culture and values and it is Europe's 12th largest trading partner, let's hope a deal can be reached to improve on our trading relationship,” MEP Kelly concluded.