Latest news with #ComprehensiveEconomicTradeAgreement
RTÉ News
27-05-2025
- Business
- RTÉ News
Draft Irish legislation to ratify EU-Canada trade deal approved
Tánaiste Simon Harris has secured Cabinet approval for the drafting of legislation which will allow for the ratification of the controversial EU-Canada trade deal. The Comprehensive Economic Trade Agreement is a deal reached between the EU and Canada which requires the backing of parliaments across all the EU member states to be fully operational. The provisional application of CETA has already led to an increase in bilateral trade in goods and services with Canada, which went from €3.2 billion in 2016 to more than €10bn in 2023. It is understood Mr Harris argued that CETA is an important part of Ireland's economic diversification strategy, which has been brought into sharp focus by US President Donald Trump's threat to introduce 50% tariffs on EU goods. He believes that Canada shares similar concerns to Ireland and is a reliable and valued trading partner for the country. If the Arbitration (Amendment) Bill is enacted by the Oireachtas, it would enable the ratification of CETA and similar deals with third countries that include investment protection provisions. However, Opposition parties are concerned that CETA contains a system of investor state courts, which they argue will have serious negative ramifications on national regulation as it sets up a court outside our own domestic system. In particular, they contend that CETA would enable large corporations to sue countries if regulations hinder those companies' ability to trade. In November 2022, the Supreme Court ruled by a majority of four to three that the Constitution precludes the ratification of the deal. The court also ruled by a majority of six to one that if certain amendments were made to legislation then the deal could be ratified without breaching the constitution. However, the then coalition of Fine Gael, Fianna Fáil and the Green Party did not legislate to overcome those legal concerns amid internal divisions. The legal case against CETA had been brought by the then-Green Party TD Patrick Costello.
RTÉ News
26-05-2025
- Business
- RTÉ News
Tánaiste to seek Cabinet approval for EU-Canada trade deal legislation
Tánaiste Simon Harris will seek Cabinet approval tomorrow for the drafting of legislation which will allow for the ratification of the controversial EU-Canada trade deal. The Comprehensive Economic Trade Agreement (CETA) is a deal reached between the EU and Canada which requires the backing of parliaments across all the EU Member States to be fully operational. The provisional application of CETA has already led to an increase in bilateral trade in goods and services with Canada, which went from €3.2 billion in 2016 to more than €10 billion in 2023. The Tánaiste will argue that CETA is an important part of Ireland's economic diversification strategy, which has been brought into sharp focus by US President Donald Trump's threat to introduce 50% tariffs on EU goods. He believes that Canada shares similar concerns to Ireland and is a reliable and valued trading partner for us. If the Arbitration (Amendment) Bill is approved by the Government, and enacted by the Oireachtas, it would enable the ratification of CETA and similar deals with third countries that include investment protection provisions. However, Opposition parties are concerned that CETA contains a system of investor state courts, which they argue will serious negative ramifications on national regulation as it sets up a court outside our own domestic system. In particular, they contend that CETA would enable large corporations to sue countries if regulations hinder those companies' ability to trade. In November 2022, the Supreme Court ruled by a majority of four to three that the Constitution precludes the ratification of the deal. The court also ruled by a majority of six to one that if certain amendments were made to legislation then the deal could be ratified without breaching the constitution. However, the then coalition of Fine Gael, Fianna Fáil and the Green Party did not legislate to overcome those legal concerns amid internal divisions. The legal case against CETA had been brought by the then Green Party TD for Dublin South Central, Patrick Costello. Earlier this year, the Tánaiste signalled this Government's intention to legislate on CETA - something the Cabinet will consider, and likely approve, on Tuesday.
Irish Times
06-05-2025
- Business
- Irish Times
Coalition to accelerate plans for ratifying EU–Canada trade deal
The Government is to speed up ratification of the European Union-Canada trade deal – known as Ceta [Comprehensive Economic Trade Agreement ] – which was shelved in a Supreme Court judgment during 2022. The trade agreement was the subject of a legal challenge from then Green Party TD Patrick Costello , with the Supreme Court finding the government's approach was unconstitutional and forcing the previous coalition to pause its plan to ratify the deal. Minister for Trade Simon Harris will update the Cabinet on the latest developments in trade, including negotiations between the EU and the United States – and his plan to accelerate the ratification of the Ceta deal. [ Ireland's proposed ratification of EU-Canada trade deal unconstitutional as Irish law stands, Supreme Court rules Opens in new window ] He will tell the Cabinet that his department has prepared draft laws which officials believe will address the issues in the Supreme Court ruling. It is intended to bring a memo to Cabinet by the end of May. READ MORE It is understood that the proposed approach would enable ratification of Ceta and also other EU-third country agreements which involve investor-State arbitration schemes – the feature of Ceta opponents resisted most strongly. Taoiseach Micheál Martin will brief ministers on the latest report from the National Economic and Social Council (NESC), which provides him with strategic policy advice. The report reviews compact growth in the State. It recommends a review of development incentives to provide stronger incentives for brownfield development and advises more flexible rent controls to support increased supply. 100 days of Government and very little to show Listen | 40:27 The NESC also says there should be more investment in cost-rental homes, and measures to seek reductions in the cost of building houses and apartments. Minister for Justice Jim O'Callaghan will bring a miscellaneous Bill which will enable greater use of remote hearings and electronic documents in criminal trials. It will also contain measures to address severe prison overcrowding and an associated increase in violent incidents, and amend the law on the disclosure of counselling notes in sexual offence trials. The same Bill will extend Covid-era laws allowing outdoor seating for licensed premises for another six months. Minister for Enterprise Peter Burke will brief the Cabinet on plans for trade diversification, including reviewing supports for Irish small firms – and the consideration of a weeklong trade mission led by the Taoiseach in November, with the destination yet to be decided. Minister for Culture Patrick O'Donovan will bring the National Museum's annual report and an update on the implementation of the Government's Creative Youth plan, as well as a joint memorandum with Mr Harris on sports diplomacy. [ Taoiseach says Ceta ruling shows referendum not required to ratify trade deal Opens in new window ] Meanwhile, Minister for Mental Health Mary Butler and Minister for Health Jennifer Carroll MacNeill will brief Cabinet on new figures regarding suicide rates. They will say that the rate has reduced by a quarter and the State is now 11th lowest in the EU. Ms Butler intends to finalise a new strategy to reduce suicide and self-harm by the end of this year. Minister for Finance Paschal Donohoe and Minister for Public Expenditure Jack Chambers will brief the Cabinet on the new annual progress report – the first significant event in the pre-budget calendar. The report sets out revised macroeconomic projections. And its forecasts were calibrated on the assumption of no transatlantic trade tariffs being introduced – and the baseline presumes a deal will be done between the EU and Donald Trump. But the document also sets out an alternative with a 10 per cent tariff between the US and the rest of the world, and 60 per cent on Chinese goods. Minister for Higher Education James Lawless will tell Cabinet he intends to sign a joint declaration by EU science ministers on quantum technologies, which are used in a variety of sectors including healthcare, climate modelling and digital security. Minister for Agriculture Martin Heydon will outline Ireland's priorities for the post-2027 Common Agricultural Policy negotiations. Minister for Energy Darragh O'Brien will update the Government on plans for the State's next renewable energy auction, to begin in May and run in September this year.
Irish Examiner
06-05-2025
- Business
- Irish Examiner
NESC calls for more flexible rent controls and brownfield development incentives
The Government should provide more flexible rent controls, review incentives for brownfield site development, and increase building density, a new report has said. Taoiseach Micheál Martin will update Cabinet on Tuesday with the findings of the latest report from the National Economic and Social Council, focused on improving compact growth in Ireland. Under the new National Planning Framework, a goal is set for half of all population growth to be in Ireland's five cities and their suburbs between now and 2040. 50% of growth in four regional cities Of that, 50% of growth is due to be in Dublin, while the other half will be in the remaining four cities. It is understood that the council has made a number of recommendations to Government, including a review of incentives for brownfield site development. It says that this should culminate in stronger incentives for developers to move towards brownfield sites. It also calls for the introduction of more flexible rent controls to support increased levels of rental accommodation supply. Brownfield sites The report calls for more investment in cost-rental, alongside the development of a brownfield activation strategy. Brownfield sites are previously developed lands which have either been abandoned or remain underused and are typically found in urban areas. The report welcomes existing commitments within the programme for government, including plans to enact a new Compulsory Purchase Order bill. Mental health report Meanwhile, mental health minister Mary Butler will update her Cabinet colleagues about Ireland's reductions in the suicide rate. Preliminary figures for 2023 outline that there were 302 deaths by suicide, which is the lowest preliminary figure for over 20 years. This figure is likely to increase however, due to a significant time lag in reporting on deaths by suicide, but Government figures have welcomed the overall downward trend. According to Eurostat data, Ireland now has the 11th lowest suicide rate in the EU. Ms Butler will also update Cabinet on the consultation process for Ireland's new national suicide reduction policy, which has received a total of 1,895 submissions. She will also inform the Government of plans to introduce a new strategy to reduce self-harm and suicide by the end of the year, with implementation and oversight monitoring structures to come in in early 2026. Ratification of Ceta Additionally, Tánaiste Simon Harris is due to bring forward updates on the ratification of the Comprehensive Economic Trade Agreement, or CETA, between the EU and Canada. The ratification, previously blocked by the Supreme Court, requires amendments to the Arbitration Act. A draft scheme of these amendments have now been prepared by the Department of Foreign Affairs. This would allow for the ratification of CETA, alongside other trade agreements which contain elements of investor-State arbitration arrangements, including Singapore and Chile. It is understood that this draft scheme of amendments is being considered across Government, with Mr Harris expected to bring forward a formal proposal later this month. The Tánaiste will also update Cabinet on the latest developments surrounding negotiations between the EU and US. European quantum tech pact Also, Higher Education minister James Lawless is to confirm Ireland's intention to sign up to the European quantum pact. This pact, among EU science ministers, is to recognise the possible potential of quantum technology on science and industry into the future. By signing the pact, Ireland will be able to collaborate with other EU countries, with access to shared infrastructure and research capacity to improve national work. The Government has signalled that signing up to the pact is a key aspect to Ireland's long-term competitiveness, given the convergence of quantum and AI in advanced computing. Fiscal strategy Meanwhile, finance minister Paschal Donohoe and public expenditure minister Jack Chambers will update Cabinet on the work for Ireland's first medium-term fiscal strategy. This new plan is expected to be published this summer, which will set out Ireland's fiscal strategy over the next five years.
Irish Independent
29-04-2025
- Business
- Irish Independent
Ceta in spotlight: Dublin law firm gears up for Canadian business influx in wake of Donald Trump's tariffs
The Dublin firm this week launched a new Canada trade desk, made up of a team of experienced lawyers dedicated to providing Canadian businesses with crossborder legal services to invest in and trade with Europe. The initiative is being led by Mr Legorburu, a Dublin-based solicitor who is originally from Canada. He said there are relatively few restrictions on trade between Canada and the European Union (EU), including Ireland, since the two struck the Comprehensive Economic Trade Agreement (Ceta) almost a decade ago. 'The agreement is not yet fully ratified, but there is 98pc to 99pc free trade between Canada and the EU,' he said. The value of Ceta to the two countries is also complemented by the Blue Skies Air Agreement and the Canada-Ireland Double Taxation Treaty. Trade between the two blocs has increased by 67pc since the agreement was struck and Ireland-Canada trade is up 30pc, but there is now a fresh incentive to intensify that relationship for businesses in both jurisdictions, he said. Canadians went to the polls yesterday in a general election with Liberal Party leader and prime minister Mark Carney attempting to hold on to power ahead of his main opponent, Conservative party leader Pierre Poilievre. Canada's relationship with the United States has changed very significantly The doubts for Canadian industry created by Mr Trump's imposition of sweeping tariffs and ratcheting up of tensions with its northern neighbour means there is a big and growing push on Canada to diversify into new markets, including Europe and Japan. 'Canada's relationship with the United States has changed very significantly. Europe and Canada are strategically aligned,' Mr Legorburu said. For Europe, Canada is rich in natural resources including oil and timber which is in demand in Ireland and across the continent, but also rare earth minerals and iron ore, which are needed in industrial Europe but historically tended to be shipped to the manufacturing sector in the US. ADVERTISEMENT 'Europe has that need, Canada has those resources,' Mr Legorburu said. Ireland is well positioned in terms of geography, language and business culture to play an important role in a developing relationship, he said. Canadian businesses in sectors such as technology, aerospace, life sciences, rare earth minerals, agricultural products and forestry, have seen Ireland as a base through which they can route their supply chains into the EU, he said. He cites eight CEOs from Alberta and 33 from the Great Lakes region of Canada planning visits here to deepen investment ties. Shifting global trade routes can be a slow process, but Europe's rapid decoupling from Russia's resource economy in the wake of the invasion of Ukraine shows it can happen quickly, he said. The new Byrne Wallace Shields team aims to work with Canadian companies who need to negotiate through the regulatory landscape here to smoothly manage access to market and regulatory matters. The team will be based in Dublin with lawyers in situ in multiple parts of Canada including Toronto and the Maritimes region in eastern Canada.
