The Taoiseach commenced his four-day visit to Japan, highlighting Ireland’s substantial trade growth with the country, amounting to €5 billion over the past three years, reports RTE.
He emphasized the significance of engaging with like-minded nations during these uncertain economic times.
In Tokyo, Micheál Martin expressed hope that the EU would secure a trade deal with the United States. However, he acknowledged that the current global landscape demands a focus on minimizing potential damage, reports RTE.
The Taoiseach outlined the EU’s intention to establish a “network of agreements,” particularly in Asia, which he described as a prudent policy diversification.
He emphasized that this visit aims to build upon the existing healthy relationship between Ireland and Japan, reports RTE.
When asked about Ursula von der Leyen’s proposal for a trade structure outside the World Trade Organization, the Taoiseach acknowledged the WTO’s challenges but emphasized that it remains a relevant entity.
He acknowledged that trade matters currently lie in uncharted territories, and the EU’s primary focus would be on developing a network of trade agreements, reports RTE.
The Taoiseach predicted an accelerated pace of negotiations and an expansion of trade agreements in the coming period.
Trade between Ireland and Japan currently stands at €21 billion annually, reports RTE.
This marks Mr. Martin’s fifth visit to Japan, and by the end of this year, a total of six ministers will have made the trip.
The Taoiseach concluded his remarks by describing the upcoming meeting as “sobering,” reports RTE.
The Taoiseach held a “sobering” meeting last weekend with Tánaiste Simon Harris, Minister for Finance Paschal Donohoe, and Minister for Public Expenditure Jack Chambers to discuss Budget 2026 and the National Development Plan.
He acknowledged the challenges ahead, given the backdrop of US tariffs and trade uncertainty, reports RTE.
Another concern was the warnings received about certain corporation tax revenues.
The Taoiseach emphasized that Ireland’s expenditure has been rising significantly, and this must be factored into the equation, reports RTE.
The Government will focus on capital expenditure, with key priorities already identified, such as investing in the electricity grid, water, and housing.
Regarding the forthcoming Presidential election, the Taoiseach declined to speculate whether Fianna Fáil will run a candidate. He stated, “We will take our decision in due course,” reports RTE.
The Taoiseach clarified that his party did not run a candidate in the past two elections and is currently “examining the situation.” Therefore, it is “a bit premature” to make any announcements.
However, he pointedly referenced a comment made by former Labour leader Joan Burton, suggesting that no party should announce anything until the end of August, reports RTE.
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