Dáil Éireann Debate, Thursday - 21 September 2017
48. Deputy Bernard J. Durkan asked the Tánaiste and Minister for Business, Enterprise and Innovation the extent to which her Department has redoubled its efforts to establish new markets inside and outside the European Union for Irish products in order to compensate for the consequences of Brexit; and if she will make a statement on the matter. [40091/17]
View answerIt is difficult at this early stage of negotiations to predict the full impact of Brexit. Much will depend on the nature of the future trade deal that will be negotiated between the EU and the UK. These negotiations are proving particularly complex and multifaceted.
Promoting diversified export markets in light of the potential impacts of Brexit is a key priority for my Department. With a small domestic market, further expansion in other markets is essential to our continued economic growth. Overall, export growth in Ireland in recent years has been exceptionally strong and exports continue to contribute positively to growth. Since 2009, the value of exports from Ireland has risen by over 60%.
There is a whole-of-Government approach in place focusing on Brexit issues and my Department and its agencies are to the forefront of this effort. In March of this year, the Government published a new Trade Strategy, Ireland Connected: Trading and Investing in a Dynamic World which supports an extensive programme of Ministerial-led trade missions, as part of a major drive towards market diversification. Promoting diversified export markets in light of the potential impacts of Brexit is a key priority for my Department. This includes markets that are growing and have scale as well as markets where we are already well established but with potential for further growth. The programme of trade missions and trade events for 2017 includes a substantive focus on the EU and third country markets. In 2017, we have 42 Minister led trade missions to existing and emerging markets. These have been orientated to reflect an increased focus on EU markets. Enterprise Ireland is also consistently working with client companies focussing on enhancing their competitiveness, capability and levels of innovation to assist them to diversify into new markets.
Later this month I will be leading a Trade and Investment Mission to Japan which will intensify Ireland’s efforts in further developing the economic and trade links between Ireland and Japan, at this time of enhanced economic partnership. This mission will reinforce the potential for Irish companies in the Japanese market and provide a platform for accelerated export growth and investment opportunities.
The EU’s suite of Free Trade Agreements with third Countries help to open new markets, break down barriers and provide new opportunities for Irish firms. These existing EU Agreements and new trade deals will continue to be very important for Ireland. With a small domestic market, further expansion in other markets is essential to our continued economic growth. In this regard Ireland will continue to support the EU’s ambitious programme of negotiating new Free Trade Agreements giving Irish Firms expanded market access and a predictable trading environment in third countries.
