The Minister for Finance has said that the Government is stepping up its Brexit preparations to cope with all eventualities, including the UK crashing out of the EU without a deal.
Speaking to RTÉ News, Paschal Donohoe warned that the future trading relationship between the EU and UK remains unresolved.
It comes after the British government released its White Paper last Thursday.
The plan envisages a free trade area between the UK and EU based on a "common rule book" for the production and sale of goods, as well as for agriculture and fisheries products.
The Government is due to discuss contingency plans beyond Brexit when the Cabinet meets this week.
Mr Donohoe said that Ireland would be moving into "a new phase of preparedness" to cope with different scenarios from 2019 and beyond.
In terms of trade, he said as negotiations heighten around custom policy, the Government would take its private work into the public domain to outline its preparations.
That means that each Cabinet Minister will outline the work of their departments over the past year, in relation to Brexit preparations.
Mr Donohoe said that the Government "is also looking for the best deal possible and this Wednesday the Cabinet will meet to discuss Brexit including the possibility of a no-deal scenario because despite the publication of the White Paper, there is a view that the future trading relationship between the UK and the EU is unresolved."
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Fianna Fáil has cautiously welcomed the preparations by the Government.
Speaking to RTÉ News, Darragh O’Brien said: "We would still hope that a deal will be done and can be done, but time is running out. We are at a critical phase now.
"So it is not before time that the Government got their act together and started preparing for a no-deal or a hard Brexit scenario."
Meanwhile, Sinn Féin warned against too many contingency plans.
Louise O'Reilly, the party’s health spokesperson said: "I don’t think we should be making too many contingency plans at this stage. I think our focus should definitely be on ensuring that there is no hardening of the border, and that the Good Friday Agreement is protected in all of its elements."
The contents of the Brexit contingency strategy will seek to satisfy the business, food and agricultural sectors in Ireland.
Tánaiste and Minister for Foreign Affairs Simon Coveney will bring the memo before Cabinet on Wednesday.
