Scale of Brexit challenge evident in trade figures - Creed
THE scale of the Brexit challenge is evident from our trade figures which illustrate our dependence on the UK market, Agriculture Minister Michael Creed told the Dáil.
According to the CSO, he said in 2016 we exported €4.8 billion worth of agricultural products to the UK, representing about 39% of our total agri-food exports. Our imports came to €3.7 billion which represented 47% of our total agri-food imports.
Speaking during a debate on Brexit, he said it is not just about the numbers, however, but also about the extensive and highly-integrated nature of the trading relationship between the UK and Ireland and the need to protect this relationship to the maximum extent possible.
“Our priorities are clear - we want to ensure that we have continued unfettered access to the UK market, without tariffs, and with minimal additional customs and administrative procedures,” he said.
“In addition, we are asking that the UK market be kept viable for Irish producers by minimising the risk from UK trade agreements with third countries after Brexit.”
In the short-term, Minister Creed said Ireland’s most immediate concerns have centred on the significant drop in the value of sterling against the euro.
“I have attempted to address these challenges primarily through the measures announced in Budget 2017,” he said.
“These include further additional funding for Bord Bia, which now stands at €3.6 million since the decision of the UK to leave the EU, a new €150 million low-cost loan scheme, additional agri-taxation measures and increased funding under the rural development programme and seafood development programme.”
He said the more medium to longterm impacts of Brexit include the potential disruption that will arise from new trading arrangements and possible tariffs, changes to regulations and standards, Border controls and certification and the related areas of veterinary and health certification. “My Department and its agencies were giving careful consideration to these potential impacts, even before the referendum took place last June,” he added.