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Damaging Brexit divorce must be avoided warns Ibec

Written by Robert McHugh, on 29th Mar 2017. Posted in Ireland

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Ibec have today warned an assertive national effort is needed to avoid the very real risk of a "divisive, damaging Brexit divorce" and the UK crashing out of the EU without a new trade deal or transitional arrangements. 

In response to the triggering of Article 50 by the UK, the group said it is advising all member companies to examine how Brexit might impact their business and is providing contingency planning support. 
 
Ibec believe a far-reaching free trade agreement with minimal trade barriers is desirable but fair competition must underpin this new EU-UK relationship.
 
Speaking today, Ibec CEO, Danny McCoy said, "The Irish economy is uniquely exposed. Tailored solutions will be needed to address specific problems. The free travel area between the UK and Ireland must be preserved and the future development of the all-island economy must be prioritised."

He added, "A comprehensive state aid package is needed to guard against potential economic disruption and dislocation. State agencies will need extra resources so they can better support companies diversifying into new markets." 
 
Source: www.businessworld.ie

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