Ireland is an European island country located in the Atlantic Ocean. Being a developed country Ireland realizes how we can positively contribute internationally and are convinced to find a moral solution to the threats to global economic trade and stability. We believe that through the ECOFIN committee that began in 1945, and has continued to make strong advancements towards reducing threats internationally to global trade, we can find a way to reach this conclusion. As a close neighbor to Great Britain separated by only the Irish Sea, we realize that the effects of Britain’s ‘Brexit’ from the European Union will but stresses on economic trade and stability not only for our country but for countries worldwide. This is because a large percent of the world’s wealth is located in Europe and the Brexit would be incredibly detrimental to the trade stability around the world.
Brexit will take a huge toll on not only countries that are part of the EU but countries in the EU too. As one of Great Britain’s allies we see this as a problem, because it will greatly affect us as well. The United Kingdom is Ireland’s second largest export of goods and 14% of our exported goods go to the UK, and $19.2B of our total 142 billion dollars worth of exports . With our country being the 33rd largest export economy in the world, fluctuating currencies and interrupted capital flow could dent trade even for developed countries such as ourselves.
The TPP is a free trade pact that works on deepening relations between the countries: Australia, Brunei Darussalam, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, United States, Singapore and Vietnam. Being a neutral country we want to continue to create a world where the economic and global threat to trade is reduced. The TPP and Brexit are similar as they pose a great threat to the global economic trade ands stability. While one, the TPP does not directly affects us, but countries we have good relations with, however Brexit does. We as a country hope that these threats do not pose a problem to our relations with other countries. We are excited to work with this committee to find a resolution to reduce threats to global economic trade and stability.