Noel Treacy
Question:19 Mr. N. Treacy asked the Minister for Tourism and Trade the way in which he intends to reduce the dependency of the indigenous sector on exports to Britain; and if he will make a statement on the matter. [2513/97]
Written Answers. - Export Trade.
The UK market currently accounts for 25 per cent of total merchandise exports and for about 42 per cent of ABT client companies in the non-food sector. In the context of our planned membership of economic and monetary union and having regard to the uncertainies surrounding participation by the UK in the single currency I have set the board of ABT a target to increase the proportion of indigenous exports going to continental EU markets by 2 per cent per annum up to 1999.
The principal instrument which ABT will use to achieve these targets is the marketing initiative: "Opportunity Europe" under which £10 million will be spent this year by ABT specifically to assist exporters to commit themselves fully to developing the enormous business potential of the continental European market.