30 Sept 2022

Surge in cross-border trade must be built upon, says Foyle MLA

Surge in cross-border trade must be built upon - Ferguson 

The surge in cross-border trade needs to be built upon as businesses face an inflation and cost of doing business crisis, Sinn Foyle MLA Ciara Ferguson has said.

Speaking on the latest figures published by the Central Statistics Office (CSO), the statistics showed the trend of 'surging all-Ireland trade' had continued in the first six months of this year.

She added: "Trade in goods from North to South has increased by a further €413 million to €2.37 billion for the first six months of 2022, while the value of south to north trade has increased by €663 million to €2.42 billion in the same period."

This surging trade across the island is possible because the Protocol keeps the north in the EU single market, and it is mitigating the worst impacts of Brexit which is damaging for businesses in Britain.

"In the middle of an inflation and cost of doing business crisis, this growth in trade needs to be built upon to help sustain business, to protect existing jobs and to create new opportunities.

"The British Government must engage in good faith with the EU to provide much-needed certainty and stability for businesses.
"And the British Government also needs to stop giving cover to the DUP to boycott our institutions.”

Ms Ferguson concluded: ”We need to have an Executive and Assembly up running and as a matter of urgency to help tackle the cost of living emergency and to agree a budget to invest in our health service and public services."

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