Oireachtas Joint and Select Committees

Monday, 29 March 2021

Seanad Committee on the Withdrawal of the United Kingdom from the European Union

Impact of Brexit on Business Sector: Discussion

Ms Julie Sinnamon:

I will make some comments on the new markets and the picture when it settles down, in as much as we know.

I will ask Mr. O'Neill to speak to the first question on the communication side and the various parties. At this stage it is very difficult to project where it will settle exactly. There was certainly quite a drop in trade in January and that had recovered significantly in February. That is anecdotal. Many companies had stockpiled, as I covered earlier. Until the UK fully implements all its controls, it is not fully known what the full indications will be. With every additional piece of paper to be filled in for companies, there is an additional cost. There is a competitiveness issue and Irish companies will have to drive their competitiveness to ensure they can cope with the additional cost going into the market.

On the eurozone, the figures went from €4.1 billion in 2015 to €5.6 billion and we were well on track to hit that 50% increase in the period. We had great success with companies going into the eurozone. However, from the figures we see the UK is and will continue to be a really strong and positive market for Irish companies. It is not proposing to walk away from it, and this is why driving on the competitiveness agenda is really key to covering any additional costs. Mr. O'Neill might now speak to the issues between the various parties at the ports.

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