I am aware of the comments made by the Irish Exporters' Association regarding the Irish pound/pound sterling exchange rate.
Overall, exchange rate policy is a matter for my colleague, the Minister for Finance, and the Central Bank. I am concerned, however, about developments which could make any of our exports less competitive. That is why, following the 1992-93 currency crisis, I exhorted firms to take steps towards improving their treasury management capability, and I placed particular emphasis on the need to explore the possibility of collective action by small and medium enterprises on a sectoral or geographical basis.
An Bord Tráchtála were asked to hold a number of regional seminars on treasury management to alert firms to the need for taking preventive steps and to advise them on the type of options open to them.
In addition, a small expert group, including a representative of the Exporters' Association, has been established, whose main job is to devise the best practice for small and medium enterprises in the treasury management area.
The group is expected to report by the autumn and it will have particular regard, of course, to the sectors perceived as being most vulnerable, including the food, clothing and furniture industries.