The IEA welcomed the publication of the revised National Asset management Agency (NAMA) Bill, and urged all parties to vote the Bill into law as soon as possible.

John Whelan, CEO of the Irish Exporters Association commented at the publication of the Bill:

"The lack of trade finance continues to be a restraint on export activity.  As markets pick up internationally, the demand for added cash flow to enable exporters to fund production costs and hedge forward on their sterling and dollar export sales contracts is not being met by banks. This has now been added to the list of restraints affecting exporters."

"We urgently need the Government to implement the NAMA legislation, and give the banks a fresh mandate to commence balance risk taking in funding export activity.

This needs to be done at competitive margins, to offset some of the lost competitiveness affecting exporters from Ireland."

John Whelan, concluded by saying:

"NAMA is a life line that business see as urgently needed to get the banking sector back into normal trading activity. The IEA call for all party support to enable the legislation to be passed as rapidly as possible."

End

For further information please contact:

John Whelan, Chief Executive

Irish Exporters Association

Mobile: 087 927 1243