Lorraine Higgins (Labour)

First and foremost, I welcome the Tánaiste to the House and commend him on all the work he has done in the spheres of foreign affairs and trade since he took over that portfolio. In particular, he has been to the forefront of restoring Ireland's international reputation. This has been proven by recent international commentary and I commend him most sincerely. I also commend him on his efforts to retain the overseas development aid budget at €639 million this year. On my recent visit to Ethiopia as part of an Oireachtas delegation, I can confirm at first-hand how the money has been spent well there. Ireland justifiably can be proud of making such an indelible mark on Ethiopian society through the initiatives in which we are helping to eradicate poverty there on a daily basis. In addition, we are assisting to build the necessary infrastructure and to widen the gap between life and death in that country. Moreover, I am pleased to note the Tánaiste's commitment in this regard remains so steadfast for 2012.

This leads me to my next point, which pertains to Ireland's trade situation. The Tánaiste is aware that Ireland has always been a desirable country for foreign direct investment and the figures for 2009, 2011 and 2012 have been a source of envy for the rest of Europe. The Tánaiste has shown a particular commitment to the trade aspect of his portfolio through his introduction of the Africa strategy and his commitment to targeting the so-called BRIC countries for trade possibilities.

However, it will be one of the defining characteristics of the next economy that we fully recognise the essential role to be played by exports. If Ireland is to benefit fully from the transformational changes taking place in world markets, we must reorient the economy and the policies that shape it towards increasing exports. We must be very mindful of how Germany came out of the great recession through the force of an exports sector that now constitutes half of its economy. We must also be mindful of the fact that almost all of the top 30 performing metropolitan areas are located in Asia and South America, while the 30 poorest are all located in Europe and the United States. There is definitely a very strong message in this. It means that as nations throughout the world urbanise and accelerate their growth, we will have new markets.

It is essential that we place flesh on the bones of commitment and look to starting up a strategic investment bank in Ireland which might target export-dependent companies. We also need to establish a network of retailers in each country in South America and Asia which could be proactive in establishing trade fairs and showcasing the very best of Ireland and its products. While the various Government agencies have a part to play in this, so do our diplomatic staff. We must look at measuring the success and impact in increasing trade opportunities through an audit procedure. Will the Department examine instigating such measures?