Billy Kelleher (Cork North Central, Fianna Fail)

I am delighted to have this opportunity to address the Seanad on the subject of Trading and Investing in a Smart Economy: A Strategy and Action Plan for Irish Trade, Tourism and Investment to 2015. This new Government strategy and action plan, which was prepared by my Department in co-ordination with all relevant Departments and State agencies, was launched last week by the Taoiseach. It replaces an Asia strategy, is global in scope and covers both existing and new high profile potential markets. The Government believes that Ireland's recovery will be export led. The potential for increased exports, tourism and investment to support well-paying jobs in this country is significant enough to demand a smart, concerted effort that maximises opportunities. Trading and Investing in a Smart Economy provides a framework to deliver on that demand.

With this new strategy for trade, tourism and investment, the Government aims to position Ireland for strong export-led growth to 2015 resulting in high levels of job creation and national prosperity. The strategy has set out a number of ambitious targets to be achieved by 2015. These are to create 150,000 new jobs in manufacturing, tourism and traded services - IDA Ireland will create 75,000, Enterprise Ireland will create 60,000 and tourism will contribute 15,000 - with a similar number of indirect jobs; to increase the value of exports by indigenous companies by 33%; to increase overseas visitors to 8 million; and to secure an additional 780 inward investment projects through IDA Ireland.

As the Taoiseach emphasised at the launch, this is the first ever integrated strategy of this nature. This new strategic approach recognises that as Ireland is a relatively small player in the global marketplace, it is critical we go forward as a coherent team when promoting our economic interests abroad. This joined-up approach is even more necessary when trying to gain or increase our foothold in new high-potential growth markets. The fact that the Taoiseach was accompanied at last week's launch by the Minister for Enterprise, Trade and Innovation, Deputy Batt O'Keeffe, the Minister for Tourism, Culture and Sport, Deputy Mary Hanafin, the Minister for Agriculture, Food and Fisheries, Deputy Brendan Smith, and me underlines the strong high level commitment of political support and the buy-in of this integrated and joined-up approach.

In Building Ireland's Smart Economy, the Government committed to developing an action plan for improving trade, tourism and investment links with new fast developing markets. In the context of the smart economy framework, Forfás recently published a review of Ireland's enterprise policy, Making it Happen - Growing Enterprise for Ireland. This review sets out a vision of Ireland's enterprise sector over the medium term based on sound analysis, with recommendations for Government across the breadth of the enterprise ecosystem that must be implemented if we are to capitalise on the opportunities presented by the already visible global upturn and create new jobs in Ireland. In fact, the world economy is expected to grow by about 4.4% this year. Obviously, this strategy is timely. We should be ahead of the curve and present in markets that are just beginning to blossom and expand as opposed to trailing in those particular areas. Trading and Investment in a Smart Economy builds on that review to detail how Government and its agencies will contribute to the achievement of high priorities and targets set out in making it happen. The strategy presents an in-depth analysis of our recent performance across three sectors and a suite of actions for building on existing strengths and driving trade relations in existing as well as new and emerging economies.

Our export performance in recent years has shown considerable resilience. That should be acknowledged and highlighted continuously. Exports, in particular in the services sector, have grown even in very difficult international market climates. This must be developed and expanded and must be promoted positively and continuously. There has been much negativity. I do not want to give a state of the union address here to the Seanad, but at the same time we must highlight positive areas in the economy, in particular in the area of exports but primarily in the services sector which has grown in the face of a virulent world recession.

I was pleased to note the most recent data of Ireland's services exports published by the Central Statistics Office showed that the value of our services exports increased by 8% in the first half of this year compared with the same period in 2009. That said, our share of world trade is declining. In addition, Irish trade is geographically concentrated and is also concentrated in particular sectors, most notably chemicals, which has shown marked resilience the in recent downturn.

At least 85% of the value of total exports was from foreign owned companies. Many people have been speaking in recent times about our corporation tax. It is important that at every opportunity we point out that that is a matter for the Government of this country and that all political parties are committed to the retention of the corporate tax at 12.5%. Wherever people are speaking, it is important that signal is sent out in a strong, coherent message-----