Tony Killeen
Question:774 Mr. Killeen asked the Minister for Tourism and Trade the plans, if any, he has to support exporters to Great Britain in view of the ongoing appreciation of the punt against sterling. [15772/96]
Written Answers. - Currency Differentials.
David Andrews
Question:792 Mr. Andrews asked the Minister for Tourism and Trade the plans, if any, he has to assist Irish companies in view of the ongoing strength of the Irish pound against sterling; the proposals, if any, he has to assist companies; and if he will make a statement on the matter. [16000/96]
I propose to take Questions Nos. 774 and 792 together. The evidence available indicates that Irish exporters generally are maintaining UK market share, and are now more effectively utilising currency hedging mechanisms in administering their UK transactions. For example, An Bord Tráchtála's most recent quarterly estimate of indigenous exports to the UK market is 10 per cent increase over the corresponding first quarter of 1995, and this at a time when the UK economy generally was growing very slowly. An Bord Tráchtála has established a sterling market task force which has already contacted almost 250 indigenous companies with high dependence on the UK. The task force is now concentrating its main efforts on a small group of 21 companies experiencing difficulties in that market and assisting them in seeking new business opportunities or new customers in new market segments.