Enda Kenny (Mayo, Fine Gael)

I understand, of course. I thank the Senator for his time when he had responsibility for trade. I agree with him that trade missions are critical. We have had a number of them in the past 12 months, notably in the area of technology, medical devices, agriculture and so on.

When I responded to the invitation from Vice President Xi Jinping to go to China, some 90 companies signed agreements and contracts for more than €35 million. Such a visit has a great impact and pays dividends. Premier Wen Jiabao was in a position to say that the scientific personnel from China would work with our personnel here on opening the enormous market for Irish beef. We would be the first country from Europe to have access to the Chinese market which would give us an enormous advantage and an alternative to markets we have at the moment. That has been followed by a relaxing of the restrictions in the US also. Our 2020 strategy has clear targets to increase the impact of the agricultural trade in which we are involved and these hold great potential.

I travel the country and visit various firms involved in engineering, technology and software and meet the young people developing our future in the biotech area, genetics, the Internet, robotics, nanotechnology and nano-medicine. This is happening before our eyes and we have the capacity to be involved in the creation of that future. When President Clinton spoke at the investment conference he organised in New York in January, he said that the demographics of this country are the best in Europe and will remain so for 25 years, given our birth rate and the young people coming through. When that is allied to the package on offer here, including tax, talent, track record and technology, it is virtually unbeatable. It is a matter for companies to make decisions as to where they want to invest. Given the creativity of our people we proposed a scheme last October which has now become a reality. Members of the Irish diaspora, which comprises 70 million people, who are involved in businesses considering investing in Europe, are being encouraged to think about Ireland. If there is a change of direction made in that regard, the initiator is rewarded by a direct payment from the State provided that jobs result. The first of those has arrived with 30 or 40 jobs coming to County Carlow, I believe. The backup in the pipeline of smaller companies from other countries wanting to invest here now runs to more than 100, showing a serious interest in investing in what we have to do here.

The answer to the Senator's questions is that there will be a series of ministerial Council meetings here and also trade missions abroad. I often believe these open doors can complement what business does. I meet representatives of the America Chamber of Commerce Ireland on a regular basis. When chief executives travel we want them to have access to the evolving decisions taken by the Government to improve and open the doors for business. One of the issues that arose from the Global Irish Economic Forum last October was that we should be far more co-ordinated from a business perspective in the way we view other countries. For years we treated the Asia-Pacific region as a single homogenous region when clearly it is not. China and Japan are as different as Antarctica and Saudi Arabia. While we might have a template for co-ordinating business opportunities, it is important to understand the culture, thinking and tradition of these diverse peoples and to be able to deal with that. We intend to co-ordinate the activities in the different countries through a co-ordinating role for business which will be done on a pro bono basis and will pay its own dividends. I will consider the request to address the plenary session.

Gabhaim buíochas leis an Seanadóir Tomás Ó Broin as ucht Gaeilge a úsáid. Tá líofacht aige. I understand the importance of the Presidency. It has changed in the sense that we no longer have the fleets of limousines because it is all centred in Brussels. However, the nature of the change since the Lisbon treaty makes it somewhat easier for governments not to need to do a raft of these. Up to 12 ministerial meetings will be held here in Dublin because of the cost factor - we do not have the money other countries have to spend on the Presidency.

The question of ratings agencies was raised on a number of occasions. We have been very clear on the issue of a transaction tax. If it is applied globally, it would not put us at a disadvantage when compared with London, Paris or Frankfurt. We have made that point clearly at a number of different meetings. We have difficulties with a number of Commissioners with regard to the transposition of directives into legislation here. I have asked the Ministers in the lead-up to our Presidency to engage with the relevant Commissioners on issues such as habitats, bogs, etc. Some of these have dragged on for a long time and can be quite complex. However, there is no reason Ministers on behalf of Government cannot negotiate and see if solutions can be put in place. They will need to interact with the Parliament during our Presidency in any event.

Senator Cummins raised the issue of youth unemployment. The issue was discussed at the second last Council meeting and Structural Funds have been allocated in respect of it. We have spent all our structural funds. When they are allocated to different envelopes, they cannot be withdrawn from those countries. However, at the end of the process some Structural Funds across the countries remain unspent. It is a question of finding creative and imaginative ways of applying that.

On the issue of youth unemployment generally, it is sad to see people leave. The point is that the JobBridge programme, Springboard or the use of opening the doors for business opportunities is the best way to create employment. Many businesspeople are unaware of the range of assistance available to business. I recently spoke to a person who became unemployed and who by setting up a business and working full time in it can claim back the income tax paid over the previous six years to invest in that business. That income tax could be as much as €100,000 a year. In this case it meant approximately €50,000 or €60,000 to invest in a new business where the person could work on a full-time basis. Much assistance is available but not drawn down and the Government has a challenge in promoting that.

Next year will see the 40th anniversary of our entry into the EEC. There is mistrust between Europe and our people. In the case of Ireland we are far more acquainted with the details of Europe than those in many other member states. That is because many countries ratify treaties and other proposals by way of parliamentary majorities. However, the Irish people are very well versed in those issues and understand the difference between the Council, Parliament and Commission.

Senator Colm Burke spoke about renewal energy, an issue of considerable importance to us. A few months ago I signed a strategic partnership agreement with the British Prime Minister, Mr. Cameron.