Frank Fahey (Galway West, Fianna Fail)

I thank Senators for their co-operation in the passage of this Bill. It is a good Bill because it is balanced and opens up the labour market in the State to the applicant countries and that is the image we want to portray in those countries. It also provides a safeguard in the event of a significant economic downturn.

The enlargement of the EU provides significant opportunities for the State. We are on the periphery of Europe and we have yet to realise the opportunities for economic development that exist through the expansion of Irish business influence, particularly in the small and medium enterprise sector, in eastern Europe. The Bill provides the ability to develop a multinational structure similar to that developed here by the United States since the 1960s and it is vital that we display a good European image to the applicant countries where we would like to build such a structure.