UUP call for UK body to promote internal UK trade - similar to Inter Trade Ireland

The UUP’s economy spokesperson made the call in light of recent research by the Northern Ireland Statistics and Research Agency (NISRA) which he said illustrates the “stark gap” between what Northern Ireland imports from Great Britain versus what Northern Ireland exports to other parts of the UK.

Mike Nesbitt said: “NISRA have detected that 68% of local companies do not trade outside of Northern Ireland. This contributes to the £1.7 Billion annual deficit in trade between Northern Ireland and Great Britain. This reeks of potential. What is needed to exploit that potential is a bespoke new organisation, with the authority of the UK Government, to identify opportunities, not just for Northern Ireland but also Scotland and Wales.

“This is not a criticism of Invest NI, rather an acknowledgement that it is not best placed to accept such an important additional responsibility, given their limited capacity and broad responsibilities. Inter Trade Ireland has achieved much to develop north south trade since it was created by the 1998 Agreement and I see huge potential for a similar body dedicated to maximising opportunities within the UK’s Internal Market.

“The Ulster Unionist Party has already had discussions with the Northern Ireland Office about this concept and we will continue to push to see this adopted as a major economic initiative in 2024”.

The DUP and TUV have also called for a body to promote east-west trade within the UK since the NI Protocol – and subsequently the Windsor Framework – created trade barriers with Great Britain.

After Sir Jeffrey Donaldson called for such a body to be created, Prime Minister Rishi Sunak told parliament: "I think there is considerable merit in the idea of a new east-west council to further strengthen the Union, and I look forward to exploring the issue with him and his colleagues further."

The TUV have said that any form of intertrade UK body is “no substitute for replacing the [NI] Protocol”.