UK-China Five-Year Trade Deal To Benefit Northern Irish Border Co-ops
China’s acceptance of UK exports of milk-based dairy products will be of great benefit to Northern Ireland’s border co-ops.
This is according to the Irish Independent, that recently announced that the deal between the two nations is worth almost €280 million over five years.
The UK’s International Trade Secretary, Liam Fox, said that the five-year deal could provide a much-needed boost to the dairy industry in the North of Ireland.
"It is very important for Northern Ireland where milk is often sourced from south of the border. We estimate this could be worth a quarter of a billion pounds for the first five years,” Fox said.
"Lakeland Dairies is a very large employer in Northern Ireland and will likely be the main beneficiary of this deal. It is very good news indeed."
The new deal increased the flexibility in the supply chain of the two, allowing Northern Irish producers to export products made using ingredients from across the border.
The Irish Independent estimates that over 33,000 milk lorries cross the border every year.
With Brexit’s divorce date approaching, and a no-deal looking more than likely, the dairy sector is facing dire straights on both sides of the border.
A recent Eucolait report suggested that a re-establishment of any border, “let alone duties, would be extremely harmful to both producers in Northern Ireland and dairies in the Republic of Ireland”.
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.