Richard Bruton (Dublin North Central, Fine Gael) | Oireachtas source

At EU level we put a strong emphasis on creating opportunities for growth in export markets during our Presidency. We successfully closed an agreement on a mandate for EU-US trade negotiations. These negotiations hold out the potential for increasing transatlantic trade between the EU and the US by 28%. If they can be concluded quickly they will offer good opportunities. Similarly, negotiations with Japan are ongoing and there are a number of opportunities in other free trade agreements.

Clearly, however, the EU has a broader base. There was a big emphasis on completing the Single Market and opening up freedom of access to public procurement and e-procurement, and to allow more exporting within the Community. The digital market is another area in which the EU sees opportunities for growth.

Domestically, the Deputy raised the issue of the pharmaceutical industry. The IDA and the Department have been acting strategically on this issue for quite some time by diversifying their packages. We are not simply dealing with the patent cliff and its impact but also seeing the growth of bio-pharma, which is compensating for areas of the sector that are in decline. The SSPC is a new €40 million research centre based in Limerick that is designed to support the process of diversification.

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