The National Competitiveness Council has launched the ‘Cost of Doing Business in Ireland 2019’ report – a report that uses the latest available international data to compare a wide range of costs that Irish businesses face relative to costs in key competitor jurisdictions. The report flags areas where business costs in Ireland are out-of-line with […]
A new study from the ESRI and the Department of Finance finds that GDP in Ireland ten years after Brexit will be around 2.6% lower in a Deal scenario, 4.8% lower in a No-Deal scenario and 5.0% lower in a Disorderly No-Deal scenario respectively, compared to a situation where the UK stays in the EU.
This […]
The Economic Partnership Agreement (EPA) between the EU and Japan came into force on 1 February 2019. Businesses and consumers across Europe and in Japan can now take advantage of the largest open trade zone in the world.
The Economic Partnership Agreement removes the vast majority of the €1 billion of duties paid annually by EU […]
Despite a year of unprecedented global volatility, involving political uncertainty, extreme weather events and continuing currency fluctuations impacting competitiveness, the value of Irish food, drink and horticulture exports reached €12.1 billion in 2018, down just 4% from a record high in 2017, according to Bord Bia’s Export Performance and Prospects 2018/2019 report. 2019 marked the […]
Executives around the world are cooling to the idea of investing internationally in the face of a rising trade tariff war between the US and China, and renewed US sanctions on Iran and Russia, as well as the EU uncertainty created by the looming prospect of a ‘no deal’ Brexit, writes John Whelan.
In its half-yearly assessment […]
Strong growth is likely to persist in the Irish economy through 2018 and 2019. This is indicated by rising private consumption, increases in taxation receipts and continued declines in unemployment rates. The ESRI’s latest Quarterly Economic Commentary states that GDP is expected to grow by 8.9 per cent in 2018, followed by 4.5 per cent growth in […]
Minister of State for Food, Forestry and Horticulture Andrew Doyle TD (pictured) has identified three key areas the Government is negotiating on as Brexit looms. Speaking at the recent Food & Drink Business Europe Conference and Exhibition held at The Citywest Hotel in Dublin, the Minister outlined the importance of maintaining a strong trading relationship […]
John Cronin (pictured) of McCann FitzGerald, one of Ireland’s premier law firms, has been elected as President of the British-Irish Chamber of Commerce. As the sixth President of the Chamber, John Cronin succeeds outgoing President, Eoin O’Neill, becoming the first solicitor to be appointed to the role.
John is a former Chairman/Managing Partner of McCann FitzGerald and […]
Dublin Airport has welcomed American Airlines’ announcement that it is to operate a new Dublin-Dallas Fort Worth summer service from next June. The daily service will be Ireland’s first direct flight to Dallas, which is American’s largest hub for connecting traffic. It will improve connectivity from Ireland to Texas and also to a large number of […]
A new Prepare to Export Scorecard has been developed by Enterprise Ireland to help Irish entrepreneurs and business owners with global ambition to self-assess how prepared they are to start exporting. The interactive online facility is a free, easy-to-use tool which acts as a starting point for companies interested in exporting and reaching overseas markets.
The […]
The British Irish Chamber of Commerce has called for the establishment of an EU-wide Brexit Mitigation Fund for industries and regions negatively impacted by Brexit and urged the government to step up its efforts to protect the economy against the worst impacts of the UK’s withdrawal from the EU.
In its Pre-Budget Submission presented to the […]
ABP Food Group has announced an exclusive ground breaking deal with Beijing Hopewise Ltd to launch a range of premium Irish beef products on JD.com, a Chinese e-commerce platform. It is one of the largest business-to-consumer online retailers in China by transaction volume and revenue, with 301.8 million active users recorded in the first quarter of 2018.
JD.com, […]
Enterprise Ireland, the state agency responsible for helping Irish companies export to international markets, has announced that its clients recorded export sales of €22.71 billion in 2017, representing a 7 per cent increase on 2016. This is the highest level of export sales recorded in the history of the agency and the eighth-consecutive year of […]
The Irish Whiskey Association has welcomed the signing of the EU-Japan Economic Partnership Agreement, the largest trade deal negotiated yet by the European Union. While sales of Irish whiskey remain relatively low, Japan is currently the largest market in Asia for Irish whiskey and last year Irish whiskey sales in Japan recorded a 15.7% growth to […]
The British Irish Chamber of Commerce has welcomed the publication of the white paper on Brexit by the UK Government but has called for a full agreement on services to be sought.
Commenting after the publication of the white paper, John McGrane, the Director-General of the British Irish Chamber of Commerce, said: “At last we […]
Irish-owned firms rely heavily on the UK as the source of intermediate inputs, which are goods used to produce a final product. Over half of the total imports used by Irish-owned firms are sourced in the UK with many importing solely from the UK market. Many Irish-owned companies are therefore highly exposed to cost increases […]
The Port of Cork has marked a major milestone for the company with the launch of the new Cork Container Terminal development in Ringaskiddy. The Cork Container Terminal will initially offer a 360 metre quay with 13 metre depth alongside and will enable larger ships to berth in Ringaskiddy. The development also includes the construction […]
The European Commission has published the results of the 2018 Digital Economy and Society Index (DESI), a tool which monitors the performance of Member States in digital connectivity, digital skills online activity, the digitisation of businesses and digital public services. According to it, the EU is getting more digital, but progress remains insufficient for Europe to […]
In a major boost for the sector Bord Bia has announced that it is commencing recruitment for 29 new positions to support the continued growth and development of Ireland’s world-class food, drink and horticulture industry. This is the largest-ever recruitment drive for the organisation enhancing Bord Bia’s capabilities in the areas of consumer and market insight; marketing and communications; and business development. The new employees will […]
Brexit is coming closer and still a lot of questions remain unanswered. People are insecure not only about their own future but also the economic future of Ireland. iReach Insights conducted a nationally representative survey and 1,000 adults were asked about their opinion about the Brexit, it’s potential impact and what Irish people would do, […]
The Government has published an independent study by Copenhagen Economics examining the impact of Brexit on Ireland’s trade and economy. The study examines the implications and quantifies the impact of possible new barriers to trade which might emerge as a result of Brexit. It considers a range of possible Brexit scenarios – an EEA-type scenario, a […]
Food Drink Ireland (FDI), the Ibec group that represents the food industry, has said the full implementation of the December Brexit deal was vital to protect complex all-island supply chains. The deal now needs to be put into a binding legal contract, there can be no black-sliding on clearly agreed commitments. At the launch of […]
Irish wave energy technology company, Ocean Energy, has announced that its pioneering wave energy convertor, the ‘OE Buoy’, will be built in the United States by Oregon-based marine-fabrication company Vigor, and deployed at the US Navy’s Wave Energy Test Site on the Hawaiian Island of O’ahu in autumn 2018. The contract value is €5.25 million out of […]
The Irish manufacturing sector, which contributes 25% of GDP and employs over 44,000 people both directly and indirectly, is key to Ireland’s continued economic success, according to Pat Breen TD (pictured above), Minister of State with special responsibility for Trade, Employment, Business, EU Digital Single Market and Data Protection. However, manufacturers face two formidable challenges […]
“Businesses across Ireland must prepare themselves for a ‘hard’ Brexit. You must establish your exposure now,” cautioned Lucinda Creighton (pictured), when addressing the recent National Manufacturing and Supply Chain Conference & Exhibition, held at the Citywest Convention Centre in Dublin.
Lucinda Creighton is the founder of Vulcan Consulting and a former Member of Parliament and Minister […]
The Department for Business, Enterprise and Innovation’s second survey of SMEs about the impacts of Brexit on their businesses found that while 75% of SMEs expect to be impacted by Brexit over the next 18 months, only 16% have a formal Brexit contingency plan.
The Behaviours & Attitudes (B&A) survey, which was conducted last autumn, asked […]
Combined total traffic through the Port of Cork and Bantry Bay Port Company reached 10.3 million tonnes in 2017, a very good increase of 8.6% compared to 2016. Total imports increased by 6.4% while exports increased by 12.3%. The Port of Cork total container volumes through both Tivoli and Ringaskiddy Container Terminals grew by 3.7% […]
The value of Irish food, drink and horticulture exports increased by 13% in 2017, to reach €12.6 billion for the first time. The figure increases to €13.5 billion when non-edible products such as forestry are included.
According to Bord Bia (Irish Food Board), last year’s export performance was driven by a surge in dairy exports to […]
Bord Bia is increasing its investment in the German food and beverage market as Irish exporters continue to look outside the traditional UK market to build business. Speaking recently at ANUGA, the biggest food fair in the world, where a record 34 Irish companies exhibited, the CEO Tara McCarthy outlined the strategic importance of the […]
The European Commission has launched plans for the biggest reform of EU VAT rules in a quarter of a century. The reboot would improve and modernise the system for governments and businesses alike. Overall, over €150 billion of VAT is lost every year, meaning that Member States miss out on revenue that could be used for schools, […]
An Tánaiste, Frances Fitzgerald, Minister for Business, Enterprise and Innovation, is leading a five-day joint Enterprise Ireland/IDA Ireland trade mission to Singapore and Japan which started this week
On the first day of the trade mission, An Tánaiste and Julie Sinnamon, Enterprise Ireland CEO witnessed a number of Enterprise Ireland client companies sign agreements with Singapore […]
The Irish Exporters Association (IEA), the voice of Irish exporters, has released results of its most recent survey, the ‘IEA Export Eye,’ conducted with members regarding Irish exporters’ sentiments on critical issues that have both direct and indirect impacts on business. The areas members were surveyed on include: ‘Brexit’ and its impact on business; entrepreneurship […]
A survey of Enterprise Ireland client companies attending International Markets Week shows that the Eurozone is the key region where they see the greatest opportunity for their business, with almost two out of three of those who are not currently exporting to the Eurozone (65%) planning to do so in the next 12 months.
According to […]
The addition of direct flights between Dublin and Hong Kong opens up a whole world of new opportunities for Irish business, according to Dublin Chamber. The Chamber was responding to the news that Cathay Pacific is to start direct flights from Dublin to Hong Kong from June 2018.
Dublin Chamber, which has acted as secretariat for […]
Pat Breen, Minister of Trade, Employment, Business, EU Digital Single Market and Data Protection opened the Ireland-Estonia Tech Bridge event in Enterprise Ireland this week.
The event is taking place at the beginning of the Estonian delegation’s two-day visit led by Estonian Deputy Secretary General for Communications and State Information Systems Simm Sikkut and Estonian tech […]
Responding to the British Government’s policy papers on future customs arrangements and the future of the Irish Border, ISME, the Irish Small and Medium Enterprises Association has stated that some of the aspirations are contradictory.
The Association has stated that while third party reaction to the Customs paper has been negative, we should remember that this represents an […]
Ibec has welcomed the aim of the UK government to avoid customs checks on the island of Ireland and develop streamlined or new customs arrangements with the EU in two new Brexit position papers. However, the group cautioned that a UK departure from the EU customs union would present very serious challenges to achieving these […]
The National Competitiveness Council has published its annual benchmarking report, Ireland’s Competitiveness Scorecard 2017. The Scorecard provides a statistical assessment of Ireland’s competitiveness performance with regard to a range of countries with which we compete for trade and investment.
Based on the analysis herein, the Council finds that many facets of Ireland’s competitive performance continued to […]
According to ICC Ireland, Ireland is currently ranked fifth in the International Chamber of Commerce (ICC) Open Markets Index highlighting the importance of international trade for the Irish economy.
Commenting on the ICC Open Markets Index, Ian Talbot ICC Ireland Secretary General said: “Ireland ranks fifth globally, an improvement of one place since the last publication of this […]
One month on from the General Election, the British Chambers of Commerce (BCC) has published a post-election survey of over 2,400 companies, which shows that while businesses have a range of views on their preferred objectives for the UK in Brexit negotiations, there is almost no support to conclude UK-EU talks without a trade deal.
Asked […]
Tánaiste and Minister for Enterprise and Innovation Frances Fitzgerald and Minister for Trade Pat Breen have welcomed the milestone in achieving progress on the EU new trade deal with Japan which will bring great benefits to Ireland.
The Tánaiste welcoming the landmark deal said: “Together with the EU- Canada Comprehensive Economic and Trade Agreement, today sends […]
According to Ibec, the Comprehensive Economic and Trade Agreement (CETA) between the EU and Canada was essential for increasing market access and investment opportunities for Irish businesses. Speaking ahead of a meeting with Canadian Prime Minister Justin Trudeau in Dublin yesterday, Ibec CEO Danny McCoy stated: “To date, Ireland has benefitted greatly from trade relations with […]
Seán Canney, Minister of State for the Office of Public Works (OPW) & Flood Relief, has commenced a three-day Enterprise Ireland trade mission to Canada with the programme taking place in Toronto and Ottawa.
The aim of the trade mission is to support participating Irish companies in furthering relationships with new and existing Canadian customers, secure […]
A dedicated InterTradeIreland advice service aimed at helping SMEs navigate the challenges of Brexit has been launched. Businesses will be able to access a raft of supports from the Brexit Advisory Service including Brexit Readiness Vouchers which they can use to fund bespoke advice up to the value of €1000; free Brexit briefing events; information […]
Following a meeting with EU chief Brexit negotiator Michel Barnier in Dublin, Ibec CEO Danny McCoy welcomed the awareness of Ireland’s unique Brexit exposure and said Irish concerns now need to be directly and explicitly addressed in negotiations and in the terms of a future EU-UK trade deal.
“Brexit is not only likely to disrupt trade […]
The Minister for Jobs, Enterprise and Innovation, Mary Mitchell O’Connor has published the findings of a survey of 1,045 SME business owners which was conducted in January by Behaviour & Attitudes and has set out a number of actions being developed to support SMEs in responding to the challenges of Brexit.
Minister Mitchell O’Connor said: “While […]
FoodDrinkEurope, the EU organisation of the food and drink industry, met in Dublin recently to call for a comprehensive free trade agreement between the EU27 and the UK post Brexit. The group met with An Taoiseach Enda Kenny, Minister for Jobs, Enterprise and Innovation Mary Mitchell O’Connor and Minister for Agriculture, Food and Marine, Michael […]
Pat Breen, Minister for Employment and Small Business is leading an Enterprise Ireland trade visit to Antwerp in Belgium. The aim of the trade visit is to promote Ireland’s extensive experience and capability within the high-tech construction and engineering sectors. The programme provides four key networking opportunities for the 25 participating Irish companies to make […]
Foreign Affairs Minister Charlie Flanagan intends to seek money for a ‘rapid rail link’ between Dublin and Belfast as part of the Brexit negotiations. He added that a special fund may also be needed to help improve our ports as the country looks to diversify trading partners. “I’d like to be able to see rail […]
Eoin O’Neill, the new President of the British Irish Chamber of Commerce has said it’s time to move on from handwringing about Brexit to giving the Irish and UK Governments practical business solutions to the new political reality.
Speaking at the Chamber’s AGM in PwC, Mr O’Neill said the Chamber’s member firms on both islands will […]
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