Frances Fitzgerald (Dublin Mid West, Fine Gael) | Oireachtas source

I have made it clear that we will be supporting InterTradeIreland and increasing its budget. The Department and I have been working on further measures targeted at the needs of companies in terms of working capital, which is an issue, and business development. We will be surveying companies again in the near future. The Deputy is correct in terms of the impact on trade between North and South and the need to be alert to that. Trade between the Republic of Ireland and Northern Ireland is currently extensive and far-reaching. The value of goods traded South to North in 2016 was €1.65 billion while North to South trade was €1.05 billion. It is very significant for SMEs. Over 15% of Irish SMEs' exports are destined for the Northern Ireland and the key sectors involved include dairy products, meat and live animals. A recent study undertaken by InterTradeIreland and the ESRI analyses a so-called worst case scenario whereby WTO tariffs would apply. It shows that there would be a very significant effect on trade between North and South if that eventuality were to occur. That points to the importance of the Brexit negotiations, the right outcome being reached and being very clear about the impact on trade.

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