Mercosur will bring economic opportunities but some sectors will require support

Ibec, the group that represents Irish business, today has said that the recent announcement of the agreement in principle of the EU-Mercosur Free Trade Agreement should see businesses across the Irish economy gain new market access opportunities to a region of almost 300 million consumers. 

Commenting, Ibec CEO, Danny McCoy, said: “While we await a final text and the legal scrubbing process to begin, the initial deal sends a strong signal that the EU remains open to global trade and investment opportunities.

“Irish exporters face increasing uncertainty on global markets. In Ireland, 648,000 jobs depend on exports to countries outside the EU and expanding trade deals such as this will ultimately bring many positives for the Irish economy. As the deal with Mercosur progresses, it is important that sufficient support is given to sectors, such as the Irish beef sector, which will be adversely affected by the deal.

“As with all FTAs, the EU must also ensure that its South American partners uphold their commitments to all aspects of the deal. Ibec looks forward to detailed engagement with Government on the wide range of opportunities and challenges which the deal would present for a range of business sectors in the context of the proposed economic assessment.”