‘Neverendum’ Brexit could ‘threatenGood Friday Agreementprosperity’

GovernmentsintheUKandIreland arebeingurgedtoworktogether toensurehugeeconomicand socialgainsgeneratedbytheGoodFriday AgreementarenotderailedbyBrexit.

A framework for greater co -operation is alread y pres ent in the architec tureof the Agre ement,according to Ib ec (I rishBusiness and Employers Confederation ) chief Danny Mc Coy.

The business grouphas launched a new campaignand report, For Peace+ Prosperity, highlighting the economic and so cial impac t of the Good Friday Agre ement asitapproaches it s 25th annivers ar y.

The UK and Ireland have both seen millions of jobs andhundreds of thousands of new business es created as stability returned postAgre ement,he said, with further beneft s including investment in forgotten communities and enhanced qualit y oflife

The entire economy across Ireland has the second highes t GDP, asid e from inner London, agains t 11 UK regions andhasa consumer market of seven million, with population grow th tw ice that of Britain. Cross- border trad e isvalued at €9.5bn, while it s labour forcehas reached 3.6 million people.

Sec tors alread y identifed as anall-island brand include dairy, whiskey, tourism, ar ts, media and the ex perience economy. “T his is notjust abouttrad e but about greater integration of business op erations and interactions that beneft from economies of sc ale and proximit y,” the report says

Ib ec has commissioned research aimed at ex trac ting more accurate data on the Northern Ireland market, withit s trad e fgures his toric ally underrepresented, Mr Mc Coy said

To prote ct progress stemming from the Good Friday Agre ement, Ib ec has made a number ofre commendations for the island of Ireland includinga rebo otof the policy framework for nor th -south economic coop eration

Mr Mc Coy saidthe exceptionalit y of Ireland within the EU ne eds to be acknowledged.

However, withthe Good Friday Agre ement alread y in place, “you don’thave to reinvent the wheel,” he said

“T hat’s an international agre ement between two sovereign states registered with the United Nations, and if both countries were in the EU, bothout orone in and one out, you ac tually have the ins titutionalarchitec ture there for that kind of co -ordination.”

While the Republic of Irelandhas also felt the impac t of Brexit on import s, “it do esn’t bite as much becaus e the Republic is going through a fairly unique period of prosperity driven by non -Brexit is sues,” he said

Boththe UK and Irelandhave fared well in at trac ting foreigndire ct investment as a result of the boththe Good Friday Agre ement and at trac tive corp orate ta x cuts, Mr Mc Coy add ed

“O nelesson people could drawis referendathat aren’t complete or clear cut,or ‘neverendums’ asthe Canadians refer to them, are nota good re cip e for investment.”