As the atmosphere grows here in Ireland but also out in Prague, I wish the Irish team and the management all the best as they try to qualify for the world cup. We all remember the previous competitions we qualified for and the pride it brought to our great country. I am back to the day job now so I would like to ask the Minister what progress has been made in implementing the market diversification action plan and the measures being taken to support Irish exporters in accessing new international markets?

Sentiment score: 0.82

I thank the Minister. I welcome the continued focus on market diversification, particularly given the increasingly uncertain global trading environment in which Irish businesses are operating. Recent progress on the EU-Australia trade agreement demonstrates the opportunities that exist for Ireland to broaden its international trading relationships. However, this must also be viewed in the context of ongoing uncertainty around tariffs internationally and continued volatility in oil and gas markets, all of which create real risks for a small, open and highly export-dependent economy like ours. Ireland's growth model has been strongly export-led for decades. While this has delivered enormous benefits, it also leaves us particularly exposed to geopolitical and economic shocks. In that context, the diversification is not simply desirable; it is essential for safeguarding long-term economic stability, employment and investment. Can the Minister outline how the Department is actively positioning Ireland to benefit from new EU trade agreements and emerging global markets, while also mitigating the risk arising from tariff instability and energy market volatility?

Sentiment score: 0.34

While strategy for diversification is welcome, the reality is that Ireland remains highly concentrated in terms of trade exposure. Around one third of exports go to the United States and Ireland holds over €1 trillion in foreign investment stock, the majority of which originates from US-based multinational firms. At the same time, the UK and the European Union collectively remain by far our largest overall trading partners. This level of concentration creates a significant vulnerability in periods of global economic or political disruption. Can the Minister outline what measurable progress is being made in reducing Ireland's exposure to a narrow set of markets and sectors? How will the Department ensure that diversification efforts translate into real and sustained growth in trade with new partners rather than remaining at the level of policy ambition?

Sentiment score: 0.30

139. Deputy Tony McCormack asked the Minister for Foreign Affairs and Trade the way in which Ireland is responding to evolving international trade policy developments that may impact Irish economic interests; and if she will make a statement on the matter. [22513/26]

Sentiment score: 0.09