Joe McHugh
Question:119. Deputy Joe McHugh asked the Tánaiste and Minister for Foreign Affairs and Trade his views on an all-island economy. [44111/13]
View answerTuesday, 19 November 2013
Questions (119)
Written answers
My ambition for the all-island economy is for well-educated, highly-trained and confident people North and South working cooperatively and successfully together for the economic benefit of this island. The Comprehensive Study on the All-Island Economy, launched in October 2006, set out an ambitious range of strategies and collaborative actions aimed at maximising the competitive advantages of the island. Through constructive engagement with Northern Ireland Ministers, we continue to build on the findings of that study, to develop initiatives designed to boost economic activity on the island and to eliminate market distortions arising from the existence of the border. We are far better off working together than separately, and the development of an all-island economy is in everyone's interests. Promoting an all-island identity has already proved very successful in the Tourism sector, where Tourism Ireland has successfully marketed the island throughout the world.
Progress on an all-island basis also continues to be made in the area of Innovation which is now a major priority both North and South with hundreds of research scientific projects underway involving partners from universities and institutes of technology. As we focus on promoting jobs and growth, it is also important that we maximise co-operation and participation in current and forthcoming EU Framework programmes for research and technological development. InterTrade Ireland, in addition to encouraging small and medium enterprises to maximise commercial opportunities across the island, has developed programmes specifically to help SMEs develop their innovative and exporting capabilities, and to encourage and stimulate greater co-operation and increased applications for Framework Programmes funding.
I am convinced that with the agencies, North and South, cooperating in marketing our innovative island and on investment promotion and overseas trade missions, this will be the engine that ensures there will be a bright economic future for this island.
I believe that the potential for intra-island trade and economic activity has not yet been fully tapped and that there is scope for increasing the levels of trade in both directions. In support of this we clearly need to assist our SMEs in whatever ways we can. This in turn can safeguard jobs, and encourage cross-border investments. InterTrade Ireland is already doing excellent work in this area.
The opportunities to work together in developing trade links with the key emerging markets on an all-island basis are clear. Our Embassies continue to be available to assist trade missions from both parts of the island and individual companies from either North or South or on an all-island basis to take advantage of opportunities for mutual cooperation.
Discussions on financial and economic matters feature at all Plenary meetings of the North South Ministerial Council (NSMC). At the recent NSMC plenary meeting in Armagh on 8 November 2013 discussions covered a wide range of financial, economic and EU matters including the actions being undertaken to help support economic recovery, the importance of attracting Foreign Direct Investment and ensuring adequate access to credit within the banking sector in each jurisdiction.
In the context of the St Andrews Agreement Review, Ministers are considering their priorities for further co-operation in their respective sectoral areas.
We will continue to work closely and constructively with our colleagues in the Northern Ireland Executive to examine how we can jointly support economic growth and the creation of jobs on the island and will continue to look at areas where we can expand mutually beneficial cooperation, find economies of scale and seek to eliminate unnecessary duplication in the provision of services.
In particular, there is a pressing need to create jobs, especially for our young people. Youth unemployment is an urgent priority across this island, and Ministers have agreed that, where possible, we should work together to make the most of the common approaches being taken North and South to deal with this key issue.
The recent Global Irish Economic Forum focused on opportunities for job creation, especially for the young, and on economic growth. I was clear that this year's Forum should provide an opportunity to plan and to strategise on an all-island basis. That is why I asked that one of the three regional events take place in Belfast. Very significantly representatives of Northern companies and business groups also attended roundtable discussions with Network members as part of the main Forum event at Dublin Castle. The indications are that genuine contacts were established with real prospects for assisting the export growth of businesses with all-island business interests. It is clear that the Northern business community have recognised how much the economy, North and South, can gain from such co-operation.