Commenting as the EU-Mercosur trade agreement provisionally enters into force today, Ian Talbot, Chief Executive of Chambers Ireland and ICC Ireland, said the Agreement represents a significant commercial opportunity for Irish exporters and importers, many of whom are actively preparing to diversify beyond traditional markets.
Mr. Talbot commented that the scale of the opportunity should not be underestimated and is welcome when the cost of business is increasing. He said the agreement has the potential to broaden the range of goods and services available to Irish consumers and support increased competition, which can contribute to more competitive pricing over time and help address cost-of-living pressures.
“These are substantial, dynamic economies with increasing demand for high‑quality goods and services,” he said. “This favours our domestic businesses. For sectors such as agri‑food, manufacturing, pharmaceuticals, engineering, ICT and professional services, reducing tariffs and regulatory barriers at this scale will make a real, practical difference on the ground.”
Mr Talbot emphasised that the agreement is about long-term competitiveness as much as immediate market access.
“Trade agreements directly affect the ability of businesses to compete, invest and create jobs. The EU-Mercosur agreement will also help level the playing field for Irish exporters who will now be able to diversify even more beyond traditional markets. Given current geopolitical stability, this is a very welcome development.”
He acknowledged that implementation will be key and said businesses need to be supported in availing of the new opportunities.
“Getting the deal over the line is only the first step,” said Mr Talbot. “We now need a strong focus on engagement with businesses, especially SMEs, to fully realise what the agreement offers.
We expect the EU to monitor the impact and implement safeguards where appropriate to protect the limited number of sectors which perceive themselves to be vulnerable. With the right follow-through, this agreement can translate into real commercial outcomes for companies in all sectors across the country.”