Bernard Durkan (Kildare North, Fine Gael)
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6. To ask the Minister for Jobs, Enterprise and Innovation the extent to which her Department has identified any positive or negative fallout from developments in the context of Brexit; the plans in place to safeguard interests here; and if she will make a statement on the matter. [32993/16]

Bernard Durkan (Kildare North, Fine Gael)
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In a similar vein to the previous question, I ask the Minister the extent to which she has been in a position to liaise with the relevant personalities in Brussels and at the same time relate the information available to the investment sector here, with a view to ensuring that this nation does not lose out more than might be expected in the period ahead.

Mary Mitchell O'Connor (Dún Laoghaire, Fine Gael)
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I thank Deputy Durkan for the question. The question he asked is not exactly what is on the Order Paper but I will come back to it. I will now answer the question I was asked.

My Department is actively managing our response to Brexit to take full account of any potential positive consequences, and to safeguard against any negative developments.

In this regard, I am working closely with the enterprise agencies. We are determined not to overlook whatever opportunities may emerge for Ireland on account of the referendum result. Securing new foreign direct investment for the country is one such possibility, and IDA Ireland is already working hard with this goal in mind.

In recent months, IDA Ireland has been engaging with current and prospective clients about the possibility of expanding or investing in Ireland in the wake of the referendum. Our continued membership of the EU and the eurozone makes Ireland potentially more attractive to potential investors than before the referendum.

Enterprise Ireland, EI, is working hard to minimise any negative fallout from Brexit, particularly for its 1,500 clients. EI is looking at the individual challenges faced by companies in every county in Ireland.

Enterprise Ireland is working to assist companies to extend their international reach, and to enhance their competitiveness. EI is also assisting clients to improve their processes, drive efficiencies and cost reductions, and to undertake research and development and innovation with a view to improving existing products and developing new ones.

My Department’s 2017 budget contains many measures to assist Irish business to become more competitive and cope with the impact of Brexit.

Bernard Durkan (Kildare North, Fine Gael)
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I thank the Minister for her comprehensive reply. To what extent has her Department identified the threats emanating from the Brexit vote? Has it been decided how best, and how soon, those issues can be addressed, notwithstanding events in our neighbouring jurisdiction? Also, I ask the extent to which an evaluation has been done of potential possibilities and opportunities for this country in the aftermath of Brexit.

Mary Mitchell O'Connor (Dún Laoghaire, Fine Gael)
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To be honest, the biggest threat for our companies is uncertainty. We are not sure what is happening. That was very evident yesterday when I met the various Ministers in London. When there is the threat of uncertainty, businesses do not know whether they should invest and take on more staff. All of that feeds into people not investing in companies. Obviously, currency fluctuation is a huge issue for our agrifood, timber and beef sectors. That is a potentially huge threat. In terms of competitiveness, Enterprise Ireland is working to ensure that companies are competitive.

The positives for Ireland are the number of companies in the UK that are worried about the uncertainty and what will happen if there is a soft or hard Brexit. Will they opt for a trade deal such as the one Norway has or their own specialised trade deal? I do not believe they know themselves at this stage. All that uncertainty is feeding into the uncertainty with regard to the currencies, investors and our entrepreneurs because they do not know what decision to make.

Bernard Durkan (Kildare North, Fine Gael)
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I ask the Minister the extent to which our European colleagues have been apprised and are conscious of the urgency to ensure consistency and that the interests of member states, including Ireland, are to the forefront in any discussions likely to take place in the run-up to Brexit.

Mary Mitchell O'Connor (Dún Laoghaire, Fine Gael)
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For my part, I have met the Commissioners, Ms Bieńkowska and Dr. Malmström, in Brussels. I have told them about the unique position that Ireland has and the unique relationship that Ireland has with Britain. I believe that they understood that relationship.

Obviously, everything now has to be worked out. We are awaiting the UK to invoke Article 50. Then it will have to negotiate with the EU and see what kind of trade deals it wants. We will continue to work hard with my Commissioner colleagues. I have also invited them to Ireland and I am hoping they will be able to visit.