Brexit trade deal a welcome relief for Irish business - Ibec
Ibec, the group that represents Irish business, has today welcomed the announcement of the Brexit trade deal which has come as a major relief to Irish business.
Ibec CEO Danny McCoy said: “After nearly 50 years of UK membership of the EU, these negotiations were always going to be prolonged and difficult. In this context the deal announced, which delivers tariff free trade, must be welcomed. It is a major relief for Irish businesses exporting to the UK that the threat of about €2 billion annual tariffs has now been removed. Today’s deal also provides a strong platform for a future positive economic relationship between the EU and the UK.
“However, the trading conditions for Irish business with our nearest neighbour will be very different, involving complex customs procedures and more costly transport options. New arrangements with the UK will also impact on services trade and there is much that still remains to clarified. The transition period has been eroded by protracted negotiations, leaving little time for business to adjust to the new arrangements announced today. Ibec will continue to work with strategic business partners in the EU and in the UK to ensure that supply chains adapt as quickly as possible and Irish business continues to serve its customers and support jobs in an already challenging trading environment.”
Ibec acknowledges the commitment by the Irish Government officials and politicians and the EU negotiating team led by Michel Barnier and for the endurance and hard work they have put into delivering this deal.