I fully recognise the potential difficulties that may arise in the agrifood and fisheries sectors from the Brexit vote. These sectors are of critical importance to our economy given their regional spread and the fact that they underpin the socio-economic development of rural areas in particular. I am determined to safeguard the interests of these vital sectors.
My Department and its agencies have conducted various analyses of the likely impact of Brexit on the agrifood sector. These analyses range from initial and ongoing internal departmental assessments to published work by Teagasc and Bord Bia. This is an ongoing process, and will continue through extensive consultation with stakeholders via the Department's stakeholder consultative committee and through the all-island civic dialogue process, in respect of which I have already hosted five agrifood and fisheries sectoral dialogues.
While the main impact to date of the Brexit vote has been the effect of sterling volatility on those businesses that have a significant trading relationship with the UK, the medium-to long-term threats include the possible introduction of tariffs on trade between the EU and UK, potential divergences in regulations and standards between the EU and UK post-Brexit, and the implications of border controls and certification requirements. Difficult challenges also arise in regard to potentially restricted access to fishing grounds and resources.
In response to the challenges posed, I have undertaken a number of important steps within my Department, which include the establishment of a dedicated Brexit co-ordination unit and a Brexit response committee to prepare for, monitor and respond to developments as required. As referred to earlier, I have also established a stakeholder consultative committee, which is complemented by frequent contact with representative organisations and companies on an ongoing basis, and operates in parallel to the separate consultation structures under the all-island civic dialogue.
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Last October, as part of budget 2017, I announced a range of measures aimed at alleviating exchange rate volatility pressures. These included the agri cashflow support loan fund of €150 million, enhanced taxation measures, and the allocation of additional funding to Bord Bia in order to ensure that it is in a position to provide Brexit-related supports to affected companies, including its new Brexit barometer. My Department has recently asked Bord Bia to conduct a market profiling exercise to inform commercial and Government market access priorities and it is intensifying its efforts to open third country markets for agrifood products. I also provided for increased funding under the rural development programme and the seafood development programme.
I have also held a series of bilateral meetings with my EU counterparts which are aimed at building alliances to ensure that agrifood and fisheries issues are at the top of the EU negotiation agenda. Building common ground with other member states will be critically important in the context of the negotiations.
In all of these engagements I am making clear our demand for continued unfettered access to the UK market, without tariffs and with minimal additional customs and administrative procedures, as well as keeping the UK market viable for Irish producers by minimising the risk from UK trade agreements with third countries. In relation to fisheries, Ireland wants to maintain current access to fishing grounds in the UK zone in the Irish Sea, Celtic Sea and north of Donegal, and to protect our quota share for joint fish stocks.
I wish to assure the House that the Government remains very focused on supporting the agrifood industry through the challenges ahead. I will continue to consult with the industry as the negotiations develop, and press Ireland's case for continued free access to the UK market, without tariffs and with minimal additional customs and administrative procedures.