Cross-border trade at a high - InterTradeIreland

Cross-border trade is at an all-time high and has been growing at an average rate of 4% per annum over the past 20 years, according to the agency InterTradeIreland.
By The Newsroom
Published 22nd Jan 2019, 16:24 BST
Updated 7th Feb 2019, 18:32 BST
Aidan Gough with Malachy McElmeel, McElmeel Mobility, Margaret Hearty, ITI business services director and Martin Agnew, corporate services directorAidan Gough with Malachy McElmeel, McElmeel Mobility, Margaret Hearty, ITI business services director and Martin Agnew, corporate services director
Aidan Gough with Malachy McElmeel, McElmeel Mobility, Margaret Hearty, ITI business services director and Martin Agnew, corporate services director

Established to encourage cross border development the agency is marking its 2oth anniversary and says that, despite the potential impact of Brexit, trade is strong and resilient.

Since its founding, the body has assisted more than 39,000 businesses, created/protected 14,800 jobs and generated more than £1 billion in business development value through its programmes and initiatives.

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Based in Newry, InterTradeIreland (ITI) provides SMEs across the island of Ireland with sales growth, innovation, business funding and business insight support.

It has a remit to support increased cooperation in trade and competitiveness and helps small businesses in Northern Ireland and Ireland explore new cross-border markets, develop new products, processes and services and become investor ready.

“Much has changed in the intervening years,” said Aidan Gough, designated officer and director of strategy and policy.

“Research commissioned by InterTradeIreland after it was founded showed the actual level of cross-border trade was significantly below that which you could expect between two economies in such close proximity.

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“Working with manufacturing and tradable services companies and ambitious SMEs with a solid trading record, we introduced a series of innovative programmes and initiatives.

“We supported businesses to take advantage of North/South co-operative opportunities to improve capability, drive competitiveness, growth and jobs.”

The benefits to firms involved in this trade, he said were more far reaching than might be thought.

“Exporting firms have been proven to be more innovative, more productive and more resilient than their non-exporting counterparts.

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“Participation in cross-border exporting is clearly making an important contribution to the performance of individual businesses, local rural economies, and the broader economy on the island.

“Brexit will affect firms on both sides of the border but action now can help businesses prepare for the imminent challenges and opportunities that will arise.”

Related topics:InterTradeIrelandBrexitNorthern IrelandIrelandNewry