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Displaying items by tag: Brexit

#Brexit - Brexit has revived a dormant territorial dispute between Britain and the Republic of Ireland over the ownership of Lough Foyle, as the Belfast Telegraph reports.

Leinster House has rejected a claim by Northern Ireland Secretary James Brokenshire that the UK includes the whole of the estuary between Counties Donegal and Derry, which has been under the auspices of the cross-border Loughs Agency since the Good Friday Agreement.

Lough Foyle and Carlingford Lough, between Counties Louth and Down, are both matters of dispute between Dublin and London which have only intensified with the uncertainly over fishing rights as the UK prepares to leave the EU and the Common Fisheries Policy.

The Belfast Telegraph has more on the story HERE.

Published in Fishing
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#ExportersBrexit - Bad news for Irish exporters into the UK as these imports will decline as foreign products become more expensive thanks to the weakening of sterling, ratings agency Fitch has warned.

The Irish Independent writes that a weaker sterling harms the competitiveness of Irish exporters because it cuts margins and makes it more expensive for them to do business in the UK. But it benefits UK domestic businesses.

The pound has weakened considerably since late last year. At the end of November, €1 bought 69 pence. At the close of polls on Thursday, that had weakened to 76 pence, but when the Brexit vote became apparent, it weakened further and is now hovering around the 83 pence mark.

Fitch said the fall in sterling will boost UK exports, but have a negative impact on imports.

"Imports look likely to decline as investment contracts and foreign products become more expensive, resulting in expenditure switching to domestically produced goods and services and higher inflation," the ratings agency has said.

The Irish Exporters Association and other business representative groups has already warned about the impact of currency fluctuations on Irish business.
Simon McKeever, the IEA chief executive, warned further weakening is likely.

And the organisation has called on firms to hedge against this and to talk to the banks.

For much more on this story click here.

Published in Ports & Shipping

#IrishUKTrade - Enterprise Ireland are to seek its clients to be less reliant on the UK markets. The Irish Times writes the reduction will cut the proportion of their exports that go to Britain by about seven percentage points over the next five years, following the UK’s decision to leave the EU.

The agency responsible for helping Irish companies export to international markets, saw exports to the UK increase last year by 12 per cent to €7.5 billion.

The UK remains the Republic’s largest export market, though exports there as a proportion of Enterprise Ireland’s total client exports has declined from 45 per cent in 2005 to 37 per cent in 2015.

Enterprise Ireland UK and northern Europe director Marina Donohoe said on Monday “it would certainly be the intention” to reduce the figure further over the next number of years to mitigate the fallout from the referendum result.

For more on this story, click here.

Published in Ports & Shipping

#Brexit - Britain's exit from the EU could create an opportunity for north Atlantic coastal countries to form their own economic group, according to a leading Irish fishing industry figure.

Speaking to The Irish Times, Irish Fish Producers Organisation (IFPO) CEO Francis O’Donnell said there was sympathy within the industry for Brexit due to the impact of Common Fisheries Policy quotas on their livelihoods.

New markets in South America, Asia and the Middle East could also replace any loss of access to the crucial EU common market, O'Donnell suggested, if Ireland were to "become a global player" and band together with the UK, Iceland and Norway.

Such sentiment within Ireland's fishing communities runs against the current of the majority of Ireland's farming sector, with the IFA urging Irish in the UK to vote to remain in the EU.

The Irish Times has more on the story HERE.

Published in Fishing
Tagged under
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About boot Düsseldorf: With almost 250,000 visitors, boot Düsseldorf is the world's largest boat and water sports fair and every year in January the “meeting place" for the entire industry. From 18 to 26 January 2020, around 2,000 exhibitors will be presenting their interesting new products, attractive further developments and maritime equipment. This means that the complete market will be on site in Düsseldorf and will be inviting visitors on nine days of the fair to an exciting journey through the entire world of water sports in 17 exhibition halls covering 220,000 square meters. With a focus on boats and yachts, engines and engine technology, equipment and accessories, services, canoes, kayaks, kitesurfing, rowing, diving, surfing, wakeboarding, windsurfing, SUP, fishing, maritime art, marinas, water sports facilities as well as beach resorts and charter, there is something for every water sports enthusiast.

At A Glance – Boot Dusseldorf 

Organiser
Messe Düsseldorf GmbH
Messeplatz
40474 Düsseldorf
Tel: +49 211 4560-01
Fax: +49 211 4560-668
Web: https://www.boot.com/

The first boats and yachts will once again be arriving in December via the Rhine.

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