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Enterprise Ireland Moves To Protect Irish Export Businesses After Brexit Vote

Published on Jun 24 2016 5:11 PM

Enterprise Ireland Moves To Protect Irish Export Businesses After Brexit Vote

Enterprise Ireland has commented on today’s 'Brexit' vote, saying that it will present significant new challenges to Irish companies exporting to the UK, and also announced this is now implementing plans to support the affected businesses.

It said that in the immediate term, the key impact on Irish exporters is likely to be around exchange rate volatility, and that companies should seek financial advice relating to hedging and managing associated risks.

It added that it would intensify its efforts to support companies in responding to the new situation and implement medium-term market diversification plans.

Enterprise Ireland CEO Julie Sinnamon commented, "In addition to our team in the UK, we have put in place a dedicated email address, phone-line and team for Enterprise Ireland clients to respond to their immediate concerns and issues."

She noted that there is likely to be a period of at least two years while negotiations take place between the EU and the UK in terms of specific trade implications.

"In this period Enterprise Ireland will continue to work with our clients to help them develop a more competitive position in the UK, and also to diversify into other growth markets including the USA, Northern Europe and Asia Pacific, all of which experienced significant growth in 2015.

"We will be closely monitoring the situation over the coming days and responding appropriately to our client needs," concluded Sinnamon.

© 2016 - Checkout Magazine by Jenny Whelan

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