The Ibec-CBI Northern Ireland Joint Business Council (JBC) has said the protection and further development of the all-island economy is key to the economic future of Ireland and Northern Ireland, and must not be undermined in any way.
Ibec (Irish Business and Employers’ Confederation) and CBI (Confederation of Business Industry) are business lobbying organisations, who established partnership in the JBC in 1993 as part of the Northern Ireland peace process.
At their ‘All-island Economy Conference' in the Crowne Plaza Hotel, Dundalk yesterday, businesses operating across the island discussed the acute challenge of Brexit to established economic relations and their business models.
The conference heard evidence from many of these companies as to how the potential impact of Brexit is not confined to issues around ‘customs and controls’, vital as they are.
Many of the businesses claimed it also has the potential to impact, especially in a no deal scenario, on the multiple interconnected and cost-effective ways that businesses operate on an all island basis.
It was stated that the impact will be felt on the labour market, R&D (research and development), energy markets and investment.
The JBC highlighted a range of all-island priorities that they claim are needed to better connect Ireland and Northern Ireland, including:
Ibec CEO, Danny McCoy said: “Over the last two decades, Ireland and Northern Ireland have developed an all-island economy that has benefited business in terms of improved scale and greater efficiencies. It is vital that this continues.
"Any new Brexit-related trade barriers would greatly undermine the benefits that have accrued from maintaining an invisible border. They would create major difficulties and disruptions for integrated ‘just in time’ manufacturing and supply, with SMEs particularly exposed."
CBI Northern Ireland Director, Angela McGowan added: "As a small peripheral economy, Northern Ireland must absolutely make the most of all trade opportunities available to it, which means both North-South and East-West. At this crucial time, the business community has a responsibility to stay focused on our long-term ambition to deliver greater economic prosperity for all.
“A no deal Brexit presents a huge challenge to maintaining an economic relationship that has driven growth, created jobs and secured peace in Northern Ireland for decades – we must do everything we can to safeguard that success.
"The proposals in the Prime Minister’s speech yesterday cannot be the final destination for a solution to the Irish border question as firms both North and South would be hamstrung by friction on both sides. The need for further, urgent dialogue continues."