Eamon Gilmore (Dún Laoghaire, Labour)

Let us be clear about where the problems originated. In fairness, Deputy Ó Fearghaíl acknowledges that the work done since the change of Government has been proactive and that we have consciously set out to rebuild the country's reputation at official level with other governments. For example, our work in talking with media and business leaders has achieved a great deal. Compare the recent commentary about Ireland with the commentary in March. There is no comparison, it has improved enormously.

This has been reflected in the markets. The spreads in our interest rates have decreased. It is reflected in our trade performance, in that our exports have increased.

It is also reflected in the interest in terms of foreign direct investment and the strategy the Government is pursuing is to use every means at our disposal to promote the country's interest, to get increased investment here from wherever to create jobs and grow our economy, and because we are an exporting economy to use every opportunity available to us to increase our trade.

This week I had a very successful meeting in Russia of the joint economic commission which agreed to concentrate on work which will promote trade and business between Ireland and Russia in five sectors. It is the BRIC country which is nearest to us geographically. It is part of the European continent and there is enormous potential for development of trade and business between the two countries. We will continue to work proactively at this. I would welcome an opportunity here or at the Joint Oireachtas Committee on Foreign Affairs and Trade to have a longer discussion on where I see the potential for increasing these trade and business links.

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