A new trade agreement between Northern Ireland and the Isle of Man will maximise business links between the two regions, government ministers have said.
Stormont Economy Minister Arlene Foster and the Isle of Man’s Minister for Economic Development Laurence Skelly have signed a Memorandum of Understanding (MOU) aimed at fostering and developing ties.
They said the accord would make the most of trade and investment opportunities between the island and Northern Ireland.
Mrs Foster said: “The Isle of Man is one of Northern Ireland’s closest neighbours and has been a popular holiday destination for many years, particularly for road racing fans visiting the island to watch the TT.
“The tourism industry, as well as the technology and financial services sectors, are important for both our economies and this Memorandum of Understanding will help to strengthen the trade and business links in these key areas.
“The promotional slogan ‘Isle of Man. Where you can’ reflects the ‘can do’ attitude that we apply in Northern Ireland when it comes to encouraging investment and staging world class events.
“The MOU between my department and its counterpart on the Isle of Man marks an important step towards building a closer relationship that will bring tangible benefits to both regions.”
Mr Skelly added: “The Isle of Man government is committed to strengthening business links to Northern Ireland so this Memorandum of Understanding between the Department of Economic Development and the Department of Enterprise, Trade and Investment is a welcome step forward.
“It enables us to continue to build on the existing business relationships and close tourism and cultural links that we enjoy with our near neighbour and reflects the willingness of both parties to work together to develop mutually beneficial opportunities to improve trade and services between us.”