Unlocking Trade Potential: Northern Ireland's Strategic Role Post-Brexit

Northern Ireland is positioned as a ”unique gateway” for trade thanks to a new deal between the UK government and the European Union that aims to ease trade post-Brexit. Business Secretary Jonathan Reynolds highlighted this at a recent reception at Westminster, where he announced that the new agreement will significantly reduce checks on goods traveling from Great Britain to Northern Ireland.

The updated deal, which was revealed on Monday, focuses on agri-food products and promises ”fewer checks and less red tape” for businesses. Following the UK’s exit from the EU, Northern Ireland was kept within the EU single market for goods, leading to an array of checks and regulations commonly referred to as the ”Irish Sea border”. The latest agreement aligns UK regulations with EU rules for agri-food, resulting in no physical inspections for food products arriving at NI ports, although customs declarations will still be mandatory.

Reynolds also emphasized the significance of this deal in maintaining Northern Ireland’s competitive advantage as a gateway to the EU market, stating, ”We don’t underestimate how important that is”. He reassured businesses about leveraging this arrangement to enhance their operations.

At the event, Sinn Féin’s Deputy First Minister Michelle O’Neill urged for maximization of trade opportunities, pointing out the value of dual market access. While appreciating the prioritization of an agri-food deal, she cautioned that ”the devil is still going to be in the detail” regarding the new terms. Meanwhile, the Democratic Unionist Party’s (DUP) Emma Little-Pengelly acknowledged that further efforts were needed to ease internal trade barriers, particularly concerning customs and veterinary products.

The reception was organized by Trade NI, which represents various business groups, including Hospitality Ulster, Retail NI, and Manufacturing NI. These groups discussed pressing concerns such as the impact of National Insurance increases on small businesses and the overall cost of doing business crisis in Northern Ireland, emphasizing the need for governmental action to alleviate these challenges.