Ibec, the group that represents Irish business, today welcomed the EU-UK deal, which will allow negotiations on arrangements for a transition period and the future EU-UK relationship to begin next year. The deal provides far-reaching commitments to ensure no hard border on the island of Ireland and clear pledges to protect the functioning of the all island economy. Ibec said close future EU-UK regulatory alignment is vital to avoiding a major hit to trade and investment flows post-Brexit. In light of the agreement, Ibec published an updated Brexit Tracker today (see attached).
Ibec CEO Danny McCoy said: “The deal is an important and welcome breakthrough. The specific commitments relating to Ireland and the functioning of the all island economy are a vital recognition of the unique challenges facing Irish business. The deal reduces the risk of a “no deal”. This is good news for business, even if major uncertainty remains.
“The continuation of the Irish-UK Common Travel Area is a major achievement that will benefit businesses and workers. It will make it easy for companies to transfer staff to UK operations, and for workers in both jurisdictions to move back and forth. It is an important recognition of unique Irish-UK economic and social ties, that will continue after Brexit.
“The UK commitments on avoiding a hard border and protecting the all island economy are far-reaching. If the UK delivers on this, and they must be held to it, it points towards a Brexit at the softer end of the spectrum, even if the journey to that end point is difficult to map at this time.
“Irish concerns are now firmly embedded in phase two of the Brexit process. Ireland must now play a central and constructive role as talks move on. Ibec has worked very closely with government over the last year, setting out key Irish concerns to the EU institutions, other member states and our partners in European business. This work will continue.”
- Brexit Tracker December 2017.pdf - 180 Kbytes