Simon Coveney (Cork South Central, Fine Gael) | Oireachtas source

The Deputy might remember, although it seems like a long time ago, that Ireland was in the space of export credit insurance in the past. Following the beef tribunal report, the then Government essentially decided to phase it out. Based on the findings of a review carried out later, the then Tánaiste, Mary Harney, concluded that the insurance exposure levels imposed on the State were disproportionate to the benefit they might give to exporters. As a result, the scheme was suspended after 1998.

That said, we have to have an open mind about this in the future, For example, if Irish companies are exporting to Ukraine in a post-conflict environment and there are risks the State needs to think about in the context of facilitating exporters to a market that may be deemed to be riskier than others. we need to keep an open mind and we will. At the moment, however, Ireland's export trade statistics are strong. Last year, for the first time, we passed the €1 trillion mark in our international trade statistics on importing and exporting goods and services. That is an extraordinary figure. We need to keep this under review. The Deputy is correct that the vast majority of EU member states have export credit schemes. I will keep an open mind on the matter.

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