Dr. Edgar Morgenroth:

I mentioned the potential to attract students to the third level sector. Likewise, there is a potential to attract students to the second level residential sector. Mutterings around immigration might make people reconsider the UK as a potential location, so there is clearly an opportunity.

Picking up some of the UK's lost market share in Europe may be more difficult. Ireland exports a great deal of food product into the UK, but the UK does not export a great deal of food product into the rest of the EU. There will not be a large market to be gained. There will be considerable action in the negotiations around the car industry. The car industry is the top merchandise exporter in approximately 20 of the EU's 28 current member states and the supply chain linkages are extreme. Ireland does not have a significant presence in that market. There are some firms, but not many. There is probably little opportunity in that regard.

There may be scope in the engineering sector, in which respect the UK is still strong. Opportunities could be pursued and the enterprise agencies are well placed to identify and take proactive measures in that regard.

I must also admit that I do not know much about fisheries. Iceland did not join the EU because of concerns about fisheries. With the UK out, it may want more rather than less of Europe's fisheries. I do not know what will happen in that regard, but the UK might become more aggressive.