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Dáil Éireann díospóireacht -
Wednesday, 26 Mar 1997

Vol. 477 No. 1

Written Answers. - Economic and Monetary Union.

Brendan Smith

Ceist:

225 Mr. B. Smith asked the Minister for Agriculture, Food and Forestry the plans, if any, he has to develop a specific trade strategy to help exporters in the food industry to cope with changes under EMU; and if he will make a statement on the matter. [8602/97]

Brendan Smith

Ceist:

236 Mr. B. Smith asked the Minister for Agriculture, Food and Forestry the analyses, if any, which have taken place in relation to the export of food products in the event of the establishment of the single currency; and his views on the matter. [8661/97]

I propose to take Questions Nos. 225 and 236 together.

In November 1995 my colleague the Minister for Finance, at the request of the Government commissioned a study of the likely economic implications of European Monetary Union for Ireland. That study was carried out by the Economic and Social Research Institute whose report, published in July 1996, concluded that for the manufacturing sector, which includes the food industry, the impact of European Monetary Union membership would vary depending on whether the United Kingdom joins the system and by reference to company size, trading and export patterns.

Prospective membership of the European Monetary Union is the latest in a series of challenges for the food industry. As I have indicated many times in the past the appropriate response to such challenges is to improve competitiveness and to intensify marketing activities. In this regard there is generous financial assistance available to the food industry under the Structural Fund food sub-programme.

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