Oireachtas Joint and Select Committees

Tuesday, 18 October 2016

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

Economic Impact of Brexit: Discussion

5:00 pm

Photo of James ReillyJames Reilly (Fine Gael) | Oireachtas source

I welcome the various agencies and I thank them for the great work they have done over the past six years and in the years before that, but particularly during the difficult times of the downturn. The agencies have achieved phenomenal results. I also thank the witnesses for their presentations.

Comments have been made about whether an allocation of €3 million is enough. I am sure the witnesses were gagging to say it would be great to get €10 million but, nonetheless, the Department has considerably increased the budget. It is the biggest increase in ten years. There is huge competition for funding as there is great need for resources in other areas.

It is welcome that the agencies have been able to prepare in the way they have done so. They are putting feet on the ground because that is what it is all about. India is one of the areas that interests me, particularly where IDA Ireland and Enterprise Ireland are concerned. That country is a huge market as it has an official population of 1.3 billion and a couple of hundred million more undocumented people. When I visited India the people I spoke to hardly knew about Ireland, except for great cricketers from Ireland, who were mainly from north County Dublin. Only for cricket people in India would not know about Ireland at all. Irish cricketers are to be commended for giving us more advertising than we could ever afford to pay for in India. A huge job of work needs to be done in India as it is massive market that is full of opportunity. Having said that, I do not want to focus on where we are weak, even though we need to address the matter. Remarkable advances have been made in China and the baby milk sector was mentioned. Ireland is not just seen as green; Ireland is seen as clean. That is critically important from the Chinese perspective and with other markets. I would like the witnesses to comment on the market in India. It poses a huge opportunity but it is very difficult to break into that market. I commend Enterprise Ireland for maintaining market activity in the US, UK and Europe where we are already strong in other areas.

Mr. Gough referred to the flour industry which offers us an opportunity if tariffs lead to a reduced market. We will not know the situation until Brexit has been completed. Irish producers will have an opportunity to fill gaps in other areas as English producers will be unable to export in the same way as they do at the moment. I do not want to create divisions but, equally, there will be opportunities north of the Border on which the South will lose out as Northern companies export to the UK mainland. I would like to hear a few comments along these lines.

All the agencies have done a phenomenal job over the past number of years. There are huge challenges ahead but it has come across loud and clear that the agencies are preparing for them. When I was visited these locations as a Minister it was great to see Irish products, and some of them from north County Dublin, on the shelves in Dubai and Abu Dhabi. There is no doubt that the markets are being penetrated and opportunities remain.

Comments

No comments

Log in or join to post a public comment.