George Lawlor (Wexford, Labour)
Link to this: Individually | In context

50. To ask the Minister for Enterprise, Trade and Employment to outline the Government's long-term strategy to diversify trade partnerships and reduce reliance on any single market in view of the new tariffs; and if he will make a statement on the matter. [50738/25]

Peter Burke (Longford-Westmeath, Fine Gael)
Link to this: Individually | In context

Our long-established trade partnerships, forged over many decades, are evolving. At the same time, new markets are emerging, digital technologies are transforming industries and the global demand for sustainable solutions is accelerating.

I recently launched the Government Action Plan on Market Diversification. This Action Plan was the result of extensive collaboration across government and with the relevant State agencies and this collaborative approach proved essential for aligning strategies and leveraging expertise. It is a ‘whole of government’ reassessment of opportunities and what is needed to enable access to new markets.

The Government Action Plan on Market Diversification sets out a path support Ireland’s businesses – large and small – to adapt to the global trading environment by striking out into new and diverse markets while deepening their engagement in existing markets, and expanding where possible and opportunities exist. As a global and open trading economy deeply connected into international supply chains, the Action Plan also serves to mitigate the current risks and bolster our economic resilience.

The Action Plan is a stock-take of the current supports available domestically and internationally for exporting Irish-based companies, while also directing concerted action across Government Departments and State agencies with the shared objective of enhancing Ireland’s trading relationships.

With Enterprise Ireland having announced the Enterprise Ireland Market Research Grant which offers funding of up to €35,000 for companies to assess the full impact of tariffs, gain market insights and develop mitigation strategies.?? They have also announced a New Markets Validation Grant offering funding of up to €150,000 for companies to develop market entry strategies for new markets or new products.

These supports for businesses are very welcome and are part of the efforts to support businesses in diversifying their markets.