Brexit deal: Mixed response from NI business groups
- Published
Business groups in Northern Ireland have responded to the Brexit deal
Business and industry groups in Northern Ireland have given a mixed reaction to the latest Brexit deal.
UK and EU negotiating teams agreed a deal ahead of a meeting of European leaders in Brussels.
The two sides have been working on the legal text of the deal and will still need the approval of both the UK and European parliaments, however.
The DUP has cast doubt on its success, saying they still cannot support it.
Ulster Bank chief economist Richard Ramsey tweeted to say that the new deal is worse than Theresa May's deal.
He said that the deal is "a good deal for hard Brexiteers" and a "bad deal for advocates of a soft Brexit and remainers".
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"[It is] significantly worse for the [Northern Ireland] economy than May's deal," said Mr Ramsey.
"More bureaucracy, red tape and complexity.
"Adding to the costs of doing business. NI to become a spectator on any UK trade deals?"
Ann McGregor, chief executive of the Northern Ireland Chamber of Commerce and Industry, said that "following these developments, businesses need a chance to analyse precisely what the terms of this agreement would mean for all aspects of their operations".
"Many will reserve judgement until they have had time to digest the detail and implications for trade, business growth, export and private sector employment," she said.
"Given our unique circumstances, this is particularly true for firms here in Northern Ireland, where the stakes are highest.
"As companies carefully consider the real-world implications, our local politicians must do the same."
Pamela Dennison, chair of the Freight Transport Association of Northern Ireland, said her organisation was "not making anything of it until it is signed, sealed and delivered".
"We need clarity. We need to understand what these processes are because those will differ again from a no-deal scenario," she said.
Northern Ireland Food and Drink Association (NIFDA) chairman Brian Irwin said he would "broadly welcome" the agreement and it was an imperative that "the associated tariff and non-tariff barriers associated with a no-deal are avoided".
The policy chair for the the Federation of Small Businesses in Northern Ireland, Tina McKenzie, said the announcement must be "welcomed as a potential pathway to a deal".
"As always, the devil is very much in the detail, though on the face of it this deal provides Northern Ireland with tariff free trade with both the EU market and with the rest of the UK," she said.