Reach agreement or we will take a massive hit: business chiefs
NORTHERN Ireland’s largest business and civic organisations have come together to urge the UK and EU Governments to reach a Free Trade Agreement as soon as possible.
The statement, which was also sent to First Minister Arlene Foster and deputy First Minister Michelle O’neill, was signed by 32 of Northern Ireland’s biggest federations.
These include the Northern Ireland Retail Consortium (NIRC), the Ulster Farmers’ Union, the Belfast Chamber of Commerce, Hospitality Ulster, the Irish Congress of Trade Unions and Retail NI.
Aodhan Connolly from the NIRC released the statement to the public last night on behalf of the group.
It stated that members wanted to remind the governments of their commitments to the people of Northern Ireland, “notably in the preamble of the Northern Ireland Protocol”.
“The conclusion of a comprehensive Free Trade Agreement with customs facilitations is essential to avoiding expensive post-transition trade frictions for Northern Ireland which will make our businesses less competitive, will lead to job losses and cause cost rises that will affect the most economically vulnerable in our society,” read the statement.
“Our households have less than half of the discretionary income of GB households so these cost rises will be a standard of living issue.”
The business and civic organisations added that Northern Ireland also needs long-term and lasting solutions to be designed to ensure the protocol impacts life here as little as possible. They also called for a period of time to adjust to the changes in order to implement them fully.
“We want to reaffirm our commitment to making the
Northern Ireland Protocol work and we are making our best endeavours to comply but we have neither the technical detail nor the time to be ready,” the statement continued.
“A no deal outcome would place Northern Ireland under unbearable and unnecessary strain at a time of crisis. We plead with you to redouble your efforts to reach an agreement.”
Meanwhile, the Economy Minister has said Northern Ireland will have an “enormous opportunity” to take advantage of post-brexit trade deals with Canada and Japan.
Many products will enjoy tariff-free status.
Diane Dodds said: “That is a huge boost to the economy of Northern Ireland and the wider economy of the UK.”
Mrs Dodds was answering Stormont questions about matters like farming in the absence of Agriculture Minister Edwin Poots due to his ill-health.
In October the UK and Japan formally signed a trade agreement in London’s first major post-brexit deal.
It means nearly all the UK’S exports to Japan will be tariff-free, with UK tariffs on Japanese cars removed by 2026.
The UK and Canada have agreed a deal to continue trading under the same terms as the
EU agreement after the Brexit transition period finishes at the end of this year.
The UK Government said it paved the way for negotiations to begin next year on a new comprehensive deal with Canada.
Mrs Dodds suggested in the Assembly that could produce bespoke arrangements here. She also told MLAS that Japan was an important trade partner.
“The crux of the matter for Northern Ireland will be making sure we are a full part of those trade deals, not withstanding the implications of the Northern Ireland Protocol,” she said.