Mary Butler (Waterford, Fianna Fail) | Oireachtas source

I thank Senator Currie for raising this important matter and for her sustained engagement on issues of North-South co-operation. I am taking this question on behalf of the Tánaiste and Minister for Foreign Affairs, who is away on Government business at the moment.

Like others I welcome the restoration of the power-sharing institutions in Northern Ireland. Saturday was a great day, a hopeful and positive day. It was down to work immediately as we saw on Monday morning. The Government looks forward to working closely with the new Executive, including on the many areas where North-South co-operation makes a positive difference to the lives of the people on this island.

Underpinning the restoration of the institutions are a comprehensive set of trade arrangements agreed between the EU and the UK. These arrangements reaffirm Northern Ireland's place in the UK internal market while also securing Northern Ireland's access to the EU Single Market for goods. Ultimately these arrangements have the practical effect of protecting North-South trade while supporting business and jobs across the island. They provide a unique opportunity for Northern business. The smooth functioning to date of the arrangements is a positive reflection of the commitment of business stakeholders to adapting their operations and making the new trade arrangements work.

The protection and promotion of North-South trade on the island of Ireland is a core priority for the Government. North-South trade is a core element of the all-island economy, which is one of the key achievements of the peace process. In 2022, total cross-Border trade in goods and services was worth an estimated €11.6 billion, an almost threefold increase since 1998. The benefits of North-South trade permeate all sectors of the business community. Research conducted by InterTradeIreland shows that North-South trade is particularly important for small businesses, enabling them to take their first steps into cross-Border markets before moving on to explore markets further afield. This illustrates how an all-island economy can serve as an incubator for innovation, taking homegrown SMEs and helping them develop into world-class exporters.

All-island supply chains are particularly strong in the agrifood sector with the meat and dairy industries especially involved in cross-Border processing and supply chains. For example, milk products with an export value of €6.5 billion move between the North and the South several times during processing. The meat industry is similarly integrated. In the drinks industry, Irish whiskey is a protected geographical indication worth over €1 billion to the all-island economy. This level of integration and co-operation explains why protecting the frictionless flow of trade on this island was so important during the negotiations of recent years. It is of real value to people and communities on both sides of the Border. The Government is committed to protecting and bolstering these trade links and to building on the economic dividends of the peace process to the benefit of all parts of our shared island.