EU-India deal drives home the need for strategic focus on trade and infrastructure ahead of Farmleigh meeting

Ahead of a special Cabinet meeting at Farmleigh House this evening, Chambers Ireland has urged Government to develop a stronger focus on trade diversification and competitiveness, alongside progress on delivering critical infrastructure.

Chief Executive Ian Talbot said that as Ministers consider priorities for the year ahead, Government must ensure that Ireland does not undermine international agreements that offer clear benefits for businesses and the wider economy:

“Delivering infrastructure must remain an urgent priority and our long-term economic resilience also depends on how we engage and compete in global markets,” said Mr Talbot. “The year ahead should include a clear review of Ireland’s approach to major free trade agreements and an independent assessment of the enhancements made to the EU-Mercosur deal since the Programme for Government was agreed.”

Mr Talbot said it is critical that Ireland does not repeat the opposition to and cherry-picking of trade agreements which we saw with the EU-Mercosur agreement as the EU looks to rapidly expand its portfolio of Free Trade Agreements at a time of rising geopolitical tensions and global economic challenges.

“We welcome the EU-India deal announced today. It is the best deal any trade partner has secured with India and the joint commitment to economic openness and rules-based trade is vitally important. This will give businesses first‑mover advantage in one of the fastest‑growing major economies in the world and it will create the world’s largest free trade area. Over 93% of tariffs will be eliminated on goods and this could double EU exports to India, which already stand at €1.3 billion and support 800,000 jobs. The dedicated small business chapter will particularly help our SMEs in Ireland.” he said. “It is essential that these significant benefits are communicated both politically and to the public.”

He added that the agreement would deliver real benefits for the agricultural sector, while protecting sensitive areas.

“This deal supports diversification of our global trading partners while excluding sensitive sectors such as beef and chicken. Extensive controls will be in place to ensure that imports meet stringent EU standards and to protect the market here,” Mr Talbot said.

Mr Talbot also said that Government should progress plans for a referendum on the Unified Patent Court (UPC).

“We also call on Government to implement a clear plan for a referendum on the EU’s Unified Patent Court (UPC). Joining the UPC will help Irish businesses protect their ideas, attract investment, and compete more effectively across the EU. Noting the added protections for Intellectual Property in the EU-India agreement, we must now facilitate our own innovators within the EU Single Market and particularly aid our young entrepreneurs whose work is so visibly demonstrated annually at the Stripe Young Scientists & Technology Exhibition.