The government has published its new Action Plan on Market Diversification, which is seen as a response to the new tariff regime between the EU and US.

According to the Department of Enterprise, Tourism and Employment, the action plan is a strategic whole-of-government initiative designed to bolster economic resilience and expand global trade opportunities for Irish businesses.

The action plan document says that the Department of Agriculture, Food and the Marine has a strong focus on market access, with agri-food exports increasing by 66% over the last 10 years, from €11.6 billion in 2014 to €19.26 billion in 2024.

One of the action plan's priorities, it says, is enhancing agency support for Irish exporters and working to create and capitalise on new markets to enable diversification.

"These efforts represent a coordinated, cross-agency multi-department response to ensure Irish exporters are well-positioned to adapt, compete, and thrive is a rapidly changing global economy," the strategy document says.

The report outlines several actions that will fall within the remit of Bord Bia, which is the body responsible for promoting Irish food abroad.

Currently, Bord Bia works with client companies that export food from Ireland through its 14 oversees offices, eight in Europe and six in other key markets.

The action plan says that while the sector and channel priorities of each market shape the activities undertaken, the overarching goal remains unchanged to enhance global awareness of Irish food and drink suppliers, strengthen their market readiness, and connect them with suitable customers.

The emphasis for Bord Bia will remain on "cultivating strategic customer partnerships" across retail and food service channels.

There are five actions to be taken by Bord Bia specifically, as outlined in the report, as follows:

Examining current footprint of offices and considering potential need for expansion, based on a market prioritisation exercise;
Reviewing the updated market prioritisation framework, identifying three markets of consideration for an expanded footprint, and implementing a phased approach for implementation of a resource in the market;
Increasing staff secondment opportunities to enable Bord Bia to mobilise markets and initiate customer opportunities (e.g. in Toronto, Canada);
Working with in-market teams, ensuring Bord Bia has sufficient 'feet on the street' consultants in markets who can support clients' market diversification ambitions;
Reviewing the Bord Bia 'Talent Academy' programme, and findings and outputs to be considered (e.g. a new marketing fellowship placement in Sydney).

According to the action plan, the first three of the above actions, and the final one, have delivery timelines of quarter four (Q4) of this year.

The fourth of the actions those not have a specific delivery timeline, with the document saying it is "ongoing".

Bord Bia will also be involved, along with other responsible bodies (such a government departments and state agencies) in the delivery of other actions in areas like awareness, diversification, trade missions, trade fair exhibiting, and Irish diaspora businesses.

All in all, the action plan contains over 100 actions across several sectors, government departments and state agencies.

Commenting on the action plan, Tánaiste and Minister for Foreign Affairs and Trade Simon Harris said: "This Action Plan is a core part of the Governments’ response to current trade issues.

"As a government we have invested heavily with significant additional diplomatic and state agency resources in Asia, Latin America, Africa and the Gulf under Global Ireland 2025. Ireland is now represented by diplomatic missions in over 100 cities around the world, all of whom have trade promotion as one of their core priorities," the Tánaiste added.