David Stanton (Cork East, Fine Gael)
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Question 98: To ask the Tánaiste and Minister for Enterprise, Trade and Employment if she has completed her consideration of providing medium term export credit insurance in the context of the action plan for trade, investment and tourism; if the final draft of the plan has been presented to the Cabinet committee on economic renewal; when this plan will be published; and if she will make a statement on the matter. [11428/10]

Mary Coughlan (Donegal South West, Fianna Fail)
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My Department is considering the merits of introducing a State supported Medium-term Export Credit Insurance Scheme (where the risk period is over 2 years), as part of our ongoing work, with other relevant Government Departments and Agencies, to prepare an Action Plan for Trade, Investment and Tourism, as mandated in the Smart Economy framework. It should be appreciated that Medium-term insurance, which caters more for large projects or infrastructural goods and services, is very distinct from Short-term cover, where the risk period is less than two years and most Irish exports do not fall into this Medium-term category. Work is ongoing, but the evidence to date points to a very limited number of companies who could benefit from such a scheme.

The new Strategy will capture the policy-position regarding credit insurance, loan guarantees etc. and set out the activity underway and required to keep viable enterprises in a competitive position vis-À-vis their international counterparts. The new strategy will focus on high growth emerging markets such as China, as well as on our existing key trading partners and its aim will be to increase our exports/investments to and in these markets. It will also bring further focus and coherence to Ireland's single-minded pursuit of our international economic and commercial interests. The draft Strategy will be presented to the Cabinet Committee on Economic Renewal in due course, prior to its finalisation later this year.