Tag: Brexit

Irish imports from Britain down over 900 million euros in January – dpa international

Inside an Irish branch of the British Tesco supermarket chain (Simon Roughneen)

DUBLIN — Ireland’s imports from Britain fell by 65 per cent in January after the British departure from the European Union led to more complicated trade with its nearest neighbour. Ireland’s Central Statistics Office (CSO) said on Thursday that imports from Britain fell 906 million euros (1.08 billion dollars) year-on-year to less than half a billion euros. Ireland usually sources around one-fifth of its goods imports from Britain, though the EU and the US account for most of the country’s overall trade. Irish exports to Britain saw a much smaller decline compared to imports of 14 per cent, the CSO said, to make up 7 per cent of the January total. Irish exports to Britain fell by almost 10 per cent in 2020.

Pandemic and Brexit discussed as all-Ireland council meets after long hiatus – dpa international

DUBLIN — Ireland’s government hosted Northern Ireland’s regional administration on Friday in the first sitting in over three years of the island’s North South Ministerial Council. Discussions centred on the novel coronavirus pandemic and Britain’s departure from the European Union, leaders said. Speaking at a lunchtime press conference in Dublin Castle, Irish Prime Minister Micheal Martin said a “critical phase” lies ahead in talks between Britain and the EU, with failure threatening to stymie movement across the border between Ireland, an EU member-state, and Northern Ireland, which is British-ruled. “We don’t want to see trade barriers, either north-south, or east-west,” said Arlene Foster, first minister of Northern Ireland’s Belfast-based regional administration. Foster pushed for further discussions on handling the coronavirus pandemic, which has killed 2,319 people and infected 32,000 across the island, according to official tallies.

Local media silent as Scottish leader tours China seeking investment – Nikkei Asian Review

YANGON — China’s media took little notice of the visit of Scottish First Minister Nicola Sturgeon to Beijing, Shanghai and Hong Kong this week. As Sturgeon met with Chinese political and business leaders, all parties were careful to avoid uncomfortable issues, such as Scotland’s relationship with post-Brexit U.K., aware that secession is a particularly touchy subject with Beijing. There was just a two line mention on Xinhua news sites regarding Sturgeon’s meeting with Chinese Vice Premier Hu Chunhua in Beijing on April 9, discussions that Scotland’s leading independence advocate depicted as “very constructive.”  The English language version of The People’s Daily, the official newspaper of the Chinese Communist Party, did not mention the visit.

UK vies for post-Brexit Asia trade as EU lines up FTAs – Nikkei Asian Review

JAKARTA — Even as the terms of its exit from the European Union remain undecided, the U.K. looks set to take on Brussels over access to Asian markets, with Indonesia’s growing economy set to be the first, and potentially crucial, battleground. While Britain tries to lay the groundwork for future trade agreements, the bloc it is leaving has already brokered a number of deals across the region. Last week, the EU and Indonesia held the fourth round of negotiations over a proposed free trade deal known as the Indonesia-European Union Comprehensive Economic Partnership Agreement.  As those discussions were taking place in Indonesian President Joko Widodo’s hometown of Solo in central Java, the U.K.’s Foreign and Commonwealth Office announced the appointment of Richard Michael as Britain’s official export finance representative in Indonesia.

No one is talking about building a wall, but Ireland fears a Brexit divide – Los Angeles Times

BELCOO, NORTHERN IRELAND — On the short bridge between Blacklion and Belcoo stand two clues that the crossing links not only a pair of towns, but two countries. The road-sign speed limits for Blacklion in the Republic of Ireland are in kilometers per hour. In Belcoo, in Northern Ireland, miles are used. Over the last two decades — particularly since the 1998 peace deal which ended three decades of civil war in Northern Ireland — Belcoo, population 540, and Blacklion, population 194, have are effectively operated as one town. “There are no barriers, it’s how people want it,” said Eugene McCann, who runs a well-stocked grocery store and post office in Belcoo, his hometown.

Ireland battles with EU rivals for Asia Brexit bonus – Nikkei Asian Review

DUBLIN — Ahead of the U.K. exit from the European Union in March 2019, several Asian financial institutions have already set up hubs in other cities within the bloc to ensure continued access to the continent. Ireland is among the countries hoping to benefit from Asian unease prompted by the Brexit vote, with Dublin regularly touted alongside Amsterdam, Frankfurt, Luxembourg and Paris as possible destinations for banks trying to reposition due to Brexit. So far, Nomura International and Daiwa Securities have set up hubs in Frankfurt, base of the European Central Bank, to serve their European businesses while still keeping their London presence; Mitsubishi UFJ Financial Group has chosen Amsterdam for its new European base; and Bank of China has opened a new subsidiary in Dublin.

Brexit could affect result of Australian election – Nikkei Asian Review

SYDNEY — Most of Australia’s politicians believe that Britain’s June 23 vote to leave the European Union will have little direct impact on Australia’s resource-rich economy, but that does not mean Brexit is being ignored, less than a week before what looks set to be closely-fought national elections. Prime Minister Malcolm Turnbull made a clear effort to play down any potential fallout from the Brexit controversy on Australia’s election and the country’s ties with the U.K. Speaking immediately after the U.K. referendum result, he said the U.K.’s departure from the EU would “have little direct economic impact in the short term as 3% of our trade is with the U.K. and our financial system is not reliant upon the pound sterling. What we see, though, is some short-term volatility on our share market and in the currency market.” Speaking in Sydney on June 27, shadow treasurer Chris Bowen of the opposition Australian Labor Party said that although Brexit could see sharp swings in global financial markets, the consequences would be for the short term and relatively mild. “I would regard the impact of Britain leaving the EU as much less intensive [than] the events of 2008,” Bowen said, referring to the global financial crisis.