There is now strong evidence to show that the proposed trade deal between the EU and the US – the Transatlantic Trade and Investment Partnership (TTIP) -would, in all likelihood, have very contrasting impacts on two of Ireland’s most important agri sectors.
Earlier this year, the European Parliament’s Agriculture Committee commissioned the drawing up of a comprehensive report, analysing the full impact of the (TTIP) deal for agri food sectors. This has recently been published and according to ICOS the trade agreement represents a good news story for dairy but something entirely different for beef. Experts believe that a possible trade impact benefit of €2.4 billion and an increase in exports of 240% could be accrued by the dairy sector. Trade in dairy currently accounts for 19% of EU agri exports to US.
However, ICOS points to the study warning that non-tariff issues, such as regulatory and administrative barriers, could still be used to undermine possible gains by EU agri/food organisations..
But the news is not so for Ireland’s suckler and dairy beef. According to ICOS, the report suggest that the EU’s redmeat sector will come under significant pressure after the signing of a potential agreement.
This message was echoed by Luke Ming Flanagan MEP at a recent IFA beef meeting in Co Roscommon, where he said that the current problems facing the beef industry could pale into insignificance should a future trade deal between the EU and the US be signed off.
The politician added: “Hell is on the way if this proposed trade deals go through.”
