Obama has 'excellent meeting' with Taoiseach

President Barack Obama has paid tribute to Taoiseach Enda Kenny today ahead of the start of the G8 summit saying they had an "excellent meeting".

The summit of the leaders of the world's eight most powerful leaders is just underway at the Lough Erne Resort in Fermanagh.

The Taoiseach held talks with the leaders on the fringes of the event.

President Obama said negotiations have now begun on promoting growth and jobs on both sides of the Atlantic.

"I'm pleased to join these leaders to announce the launch of negotiations for a new trade agreement that will help us do that just that - the Transatlantic Trade and Investment Partnership - also known as TTIP," he said.

"I want to thank not only the people on this stage, but also...Chancellor Merkel, Prime Minister Letta and Taoiseach Kenny".

"We just had an excellent meeting and I'm proud to say that America will have the opportunity to host the first round of negotiations next month in Washington."

President Obama said securing a US-EU trade deal would be a "priority" for his administration. But he warned against "downgrading ambition" in a rush to strike an agreement.

"I am hopeful we can achieve the kind of high standards comprehensive agreement that the global trading system is looking to us to develop" he said.

"America and Europe have done extraordinary things together before and I believe we can forge an economic alliance as strong as our diplomatic and security alliances."

"That means resisting the temptation to downgrade our ambition or avoid tough issues just for the sake of getting a deal.

Mr Obama promised to make the further trade talks, which start next month in Washington and are expected to last up to two years, a priority of his remaining term in office.

The President said the leaders would be giving a “mandate” to their negotiators, but added that it was likely they would have to step in personally to resolve particularly difficult issues.

“There are going to be sensitivities on both sides, there are going to be politics on both sides, but if we can look behind the narrow concerns to stay focused on the big picture, the economic and strategic importance of this partnership, I am hopeful we can achieve the kind of high-standard, comprehensive agreement that the global trading system is looking to us to develop,” he said.

“We are going to give a strong mandate to our negotiators, but occasionally I suspect we are going to have to intervene and break through some logjams. Nevertheless, I am confident we can get it done.”