140. Deputy Catherine Ardagh asked the Minister for Enterprise, Tourism and Employment the way in which Enterprise Ireland is supporting the Action Plan on Market Diversification; and if he will make a statement on the matter. [30500/26]

My Department, through Enterprise Ireland, supports Irish companies to grow their business and secure new opportunities across the globe.

As an open and globally connected economy, Ireland is deeply integrated into international supply chains, and recent instability affecting key routes reinforces the importance of strengthened supply-chain resilience and market diversification.

The Government’s Action Plan on Market Diversification provides a clear framework to help businesses adapt to the evolving global trading environment by growing into new and diverse markets, strengthening their presence in existing ones, and reducing exposure to any single region or supply route.

To support companies responding to international supply-chain disruptions, Enterprise Ireland has launched two grants aligned with the Action Plan on Market Diversification:

• The Market Research Grant – provides up to €35,000 to companies to enable them to assess tariff and trade impacts, undertake market research and develop mitigation strategies. To date, 65 companies have either been approved for this grant or have approvals in progress.

• The New Markets Validation Grant – provides up to €150,000 to companies to support development of market-entry strategies for new markets or new products. To date, 121 companies have either been approved for this grant or have approvals in progress.

While originally developed to mitigate US tariff impacts, these supports are now assisting companies in building wider resilience and diversification strategies. These grants are assisting exporters to implement practical operational and diversification measures, safeguard profitability and protect jobs in the face of heightened cost pressures and global supply-chain uncertainty.

Market diversification is further supported through Enterprise Ireland’s global network of 42 international offices, which provide on-the-ground assistance and access to new customers and ecosystems. Enterprise Ireland is also supporting a whole-of-Government approach overseas through the expansion of the Ireland House model, co-locating with other State agencies to maximise impact for clients. Ongoing one-to-one engagement with client companies, informed by overseas market intelligence and sectoral expertise, remains central to Enterprise Ireland’s strategy to build resilience and support sustainable export growth across a wider range of international markets.