Dáil Éireann Debate, Wednesday - 16 November 2016
250. Deputy Niamh Smyth asked the Minister for Jobs, Enterprise and Innovation her plans to meet businesses along the Border region, particularly in counties Cavan and Monaghan, ahead of Brexit; and if she will make a statement on the matter. [35307/16]
View answerAs Minister for Jobs, Enterprise and Innovation, I am continuing to focus on developments in the fallout from Brexit and am deeply engaged with Enterprise Ireland (EI) and IDA Ireland regarding the impacts being felt by client companies. I have ongoing communication with these Agencies through my chairing of the High level Group of Senior Managers which includes the CEOs of the Agencies. In addition, my officials are in daily contact with the Agencies and keep me informed of any issues arising.
I am monitoring the export and trading environment on an ongoing basis and have met with companies and other stakeholders from across the country to help inform our response. I will continue to meet with companies over the coming months.
Over €1 billion of EI exports go to Northern Ireland and I am very conscious of the challenges that may be faced by companies operating in close proximately to the border. EI is working with its clients, looking at the individual challenges faced by clients on a company by company basis in every county in Ireland and on a sectoral level as some sectors are more exposed than others.
I would urge any businesses who are experiencing difficulties to visit one of the 31 Local Enterprise Offices nationwide, or to contact Enterprise Ireland, for advice and support.
The exchange rate situation is an evolving one and we may not have felt the full effects of the weakening of the value of Sterling. In the immediate aftermath of the vote EI focused on reaching out to their clients by setting up a helpline, and:
- contacted all clients with a material exposure to the UK;
- developing a New ‘Guide to Exporting to the UK, post EU Referendum’;
- developing a Webinar on currency volatility and hedging;
- promoting global market opportunities in the media;
- preparing a Comprehensive Guide to Exporting to the UK with expert guidance and advice on diversification, competitiveness, tax, business planning and managing currency risk;
- publishing a revised schedule of Trade and Investment Missions.
The challenge ahead is significant. The vote of the UK to leave the European Union has created uncertainty in the short term and will lead to a structural shift in the international trading framework in which Irish companies operate. There is a whole of Government approach in place focusing on the issue of Brexit and my Department and its Agencies are to the forefront of this effort.
