Business

Tuesday 23 September 2014

EU seeks to ease French fears over Hollywood in US trade talks

Published 14/06/2013 | 09:12

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Minister Richard Bruton
Minister Richard Bruton

The European Union will try to overcome the French “stumbling block” to realise an EU-US trade deal that could provide €800m to Irish economy and create 4,000 jobs.

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To date, the French government has refused to agree to any deal which includes film and digital media in an effort to protect the French culture.

Chaired by Minister for Trade, Richard Bruton, EU trade ministers will be searching for a solution to the problem in discussions that are taking place in Luxembourg today.

“We need to work this out. It’s about finding language that people would be satisfied with,” said Mr. Bruton.

Advocates for the free trade agreement, which also aims to align US and European regulations, believe that inclusion of all industry sectors is essential to ensure optimum benefits of the pact.

France has previously acted as a deterrent to an EU-US free trade agreement, but the impetus for such a deal has grown in recent months as both sides of the Atlantic strive to further bolster their respective economies.

The proposed deal would foster new business opportunities between EU member states and the US, but those in favour of the initiative are concerned that a block from France in this regard may encourage similar addendum requests from US quarters that would only serve to undermine the full potential of the agreement.

 

Reuters

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