Mary Mitchell O'Connor (Dún Laoghaire, Fine Gael) | Oireachtas source

I am pleased to have the opportunity to make a statement on Brexit. A whole-of-government approach to Brexit issues is in place. My Department and its agencies are to the forefront of that effort. The UK's decision to leave the EU will impact on all policy fields of my Department and agencies. I have tasked my departmental officials with making Brexit their No. 1 priority.

In advance of the referendum, my Department conducted a contingency risk assessment of the potential impacts of Brexit across the relevant policy areas. We have since been refining our analysis and working with agencies to put in place actions to mitigate risks and maximise opportunities. We have also been working with colleagues across the Government to analyse potential sectoral impacts and consider the implications of various scenarios that may emerge as a result of the UK leaving the EU.

As the Minister with responsibility for supporting business across all sectors, and in order for me to support those impacted by Brexit in a targeted way, I must fully understand the concerns and needs of business. I have taken every opportunity to hear the opinions of sectors and companies. I have met a wide range of representative organisations, including IBEC, ICTU, ISME, the Construction Industry Federation, CIF, the Small Firms Association, the Irish Exporters Association, American Chamber of Commerce Ireland, the Dublin Chamber of Commerce, the Irish Farmers Association and many more. I hosted a Department of Jobs, Enterprise and Innovation Brexit stakeholder engagement event in Carrick-on-Shannon on 30 January that was attended by more than 200 stakeholders. I have also presented at other Brexit meetings at which there was a total attendance of more than 400 people.

I met a number of my EU counterparts in Brussels, London and, most recently, the Netherlands and Denmark to convey the unique impact of Brexit on Ireland. These meetings are part of a series of bilateral visits to key member states that my Department is undertaking. We want to enhance the understanding of Ireland's unique position and deepen and strengthen Ireland's relationships with other EU member states in preparation for the upcoming negotiations. Our diplomatic efforts are paying off. I am pleased that the draft guidelines circulated by European President Tusk include strong acknowledgements of Ireland's unique circumstances - the need to protect the peace process and the Good Friday Agreement, and our intention to maintain bilateral arrangements - such as that relating to the common travel area - with the UK. The guidelines also express our shared desire to establish a close partnership between the EU and the UK after its departure. This will be important for our future trade relationship.

Brexit presents a range of challenges, but also opportunities, for our companies. With its small, open economy, Ireland relies on external demand and international markets for sustainable and continued growth. The UK is and will continue to be an important export market for us. Given our geography and trading relationship with the UK, certain sectors will face particular challenges as the UK leaves the EU. While we want to secure the closest possible economic and trading relationship between the EU and UK, access by the UK to the Single Market must be on the basis of full acceptance of all four freedoms, namely, goods, services, capital and people, which is the stated position of the EU 27.

My Department and the enterprise agencies are fully committed to supporting business and all of our stakeholders in the period ahead. Enterprise Ireland and the local enterprise offices, LEOs, are steadily working with companies to ensure they will be better prepared to respond to the challenges Brexit will bring. Last week Enterprise Ireland launched a Brexit SME scorecard to help companies to self-assess their readiness for Brexit. Companies engaged in cross-Border trade are particularly exposed to the impacts of Brexit. We will do our utmost to protect the interests of these companies. InterTradeIreland, with which I met last Friday, plays a critical role in helping them to prepare for Brexit. Supporting its work will remain a priority for me in the time ahead.

In our collective efforts to address these challenges we should not overlook opportunities that may emerge for Ireland. One such opportunity is the possibility of attracting increased foreign direct investment. I have directed IDA Ireland to explore the potential for winning more on account of Brexit. The agency and its staff are working hard with this goal in mind. It is constantly engaged with clients across its entire portfolio in actively pursuing any opportunity for mobile investment. In our efforts to win more foreign direct investment we can continue to rely on the selling points that make investing in Ireland so attractive in the first place. Ireland is remaining in the European Union and open to business and trade. If investors are looking for a sound and certain location, Ireland is that location.

There are also opportunities for Ireland in the area of research and innovation. My Department is working closely with Science Foundation Ireland to maximise these opportunities. The UK vote has led to uncertainty in our trading relationship with the United Kingdom, one of our most important trading partners. Extensive research carried out by Behaviours & Attitudes on behalf of my Department points to the challenges, including the need for business to diversify to be less reliant on the UK market, to drive down costs, to innovate in the way they do business and to revisit their product range. My Department is working closely with the Department of Finance, the Strategic Banking Corporation of Ireland and Enterprise Ireland in looking at supports already available to business and what other supports may be required down the line.

Brexit will have a profound impact on all policy areas of my Department. We will continue to assess its possible implications and impacts on enterprise. My Department and its agencies are working hard to ensure the most advantageous outcome for Ireland and the European Union and the benefit of Irish enterprises, employees and consumers.

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