BUSINESSES and the public in Northern Ireland are to be given their say - and voice their concerns on how future global trading relationships are forged in the post-Brexit era.
The Department for International Trade (DIT) hosted a round table event in Belfast to harvest business opinion on relationships with the USA, Australia, New Zealand and potential accession to the Comprehensive and Progressive Trans Pacific Partnership (CPTPP), which were worth a combined £2.35 billion for the north's economy last year (or more than £1 in every £5 of the region’s exported goods)
It was the sixth of 12 consultation round-tables being held throughout the UK to seek views from interested parties as DIT attempts to deliver an approach that works for the whole of the UK.
Securing free trade agreements with countries outside the EU will be crucial in fulfilling the new ambition set by the Government’s Export Strategy to increase exports to 35 per cent of GDP.
Members of the public in Northern Ireland can still submit their views to www.consultations.trade.gov.uk as part of four online consultations which are open until October 26.
International Trade Minister George Hollingbery said: “For the first time in 40 years we will be able to determine the terms of our trade. That means new trade agreements with our key partners, as well as putting the UK at the heart of the world’s fastest growing regions such as Asia.
“The US, Australia, New Zealand and countries around the Pacific buy a fifth of all the goods Northern Ireland produces, and new trade agreements will create even more opportunities for the region’s booming industries, which are growing rapidly thanks to the success of established exporters and younger start-ups alike.”
Donal Durkan, executive director of strategy at Invest Northern Ireland, said: “Exports are vitally important to the Northern Ireland economy. With Brexit negotiations ongoing and agreements on future trade arrangements still to be decided events like this are an important opportunity for local businesses to feed into any possible future UK trade agreements.
"There is also an online consultation which we would encourage businesses to participate in to ensure the specific challenges businesses are facing and potential opportunities available are fully reflected.”
Kirsty McManus, Northern Ireland director at the Institute of Directors, added: "The government's future trade policy after Brexit needs business input from across the country to be a success, and the only way to do this is to take the conversation out to businesses themselves.
“Our firms are facing particular challenges and opportunities, and the UK’s wider trading ambitions should encompass these.”
The total value of exported goods from Northern Ireland last year was up 11.2 per cent to £8.7 billion. The USA is the largest export market accounting for 16.8 per cent (£1.46 billion) of goods by value and the CPTPP countries accounting for a further 10.2 per cent (£900 million) of goods by value.
