Issues and implications for Irish Business
The decision by the United Kingdom to leave the EU is an enormously significant decision for global business, for the island of Ireland and businesses based here - both North and South. Many of the implications of the result are very negative and others will evolve over time.
It is important to re-affirm the many positive fundamentals that already exist in the Irish - UK economic relationship. We are both significant markets for each other’s goods and services and this will not change. Inevitably and depending on the outcome of the exit negotiations, there may be some notable alterations to the terms of this trade.
However, it is in everyone’s interests that the eventual trading relationship between the EU and the UK remains as business friendly as possible. Ireland is in a unique position as we are the only EU state to share a land border with the UK. Thus the prospect of a ‘hard border’ has highly negative implications for trade and employment across the island. Such an outcome would add unnecessary complexity and cost to business and every effort should be made to prevent potential disruption to commerce on both sides of the border as a result of Brexit.
The Irish government is playing a leading role in ensuring that Ireland’s interests are well represented and we are strong advocates for an outcome that protects trade, investment and employment. We are also highly supportive of the efforts of state agencies to promote Ireland’s continued appeal as an excellent location for business.
We hope that this document is a useful aid in considering some of the issues in relation to Brexit.