IBEC-CBI urge greater all-island partnership to ensure resilience of all-island economy
Two business groups, Ibec and the CBI have called on the UK and Irish governments to further co-invest in major infrastructure projects to address critical capacity, as well as ensuring greater all-island alignment on addressing skills constraints.
Speaking at the All-Island Economy Annual Conference in Dundalk on Thursday 11th June, the business groups emphasised that the €17 billion (£14.6 billion) all-island economy requires strategic joint investment to future-proof its economic resilience.
The UK Ambassador to Ireland, Kara Owen, and Northern Ireland Economy Minister Dr Caoimhe Archibald MLA, were keynote speakers at the conference, which was attended by 200 business leaders in Dundalk. The event was supported by strategic partner Belfast Harbour, and corporate partner, Musgrave.
Cross-border regulatory barriers and hybrid working constraints continue to hinder businesses from accessing talent across both jurisdictions. To maximise the benefits of joint infrastructure investment, build all island economic resilience and realise the potential of the all-island labour market, the business groups are urging rapid delivery of the commitments made at the UK-Ireland Summit in Cork in March.
Angela McGowan, Director, CBI Northern Ireland said: “We were delighted to welcome over 200 business leaders from across the all-Island economy to our Annual Business Conference. Partnership between our governments and business will be vital for tackling the challenges we face and seizing the opportunities ahead.
OPPORTUNITY TO IDENTIFY PRACTICAL MEASURES
“Our joint conference called on officials to build on the momentum generated by the UK Prime Minister and the Taoiseach at the UK–Ireland Summit by developing a bilateral approach to addressing cross-border barriers that are constraining business investment and exacerbating skills shortages across the all-island economy.
“Given the importance of cross-border infrastructure, integrated supply chains and cross-border working, the conference provided a valuable opportunity to identify practical measures to enhance competitiveness and drive sustainable growth across the all-island economy.”
Dr Caoimhe Archibald MLA, Economy Minister added: “It was a great pleasure to address this conference and reflect on the importance of all-Ireland trade to our economic resilience. There is strong momentum to build on. Cross-border trade for goods and services reached £14.5 billion in 2024 – a 16% increase on 2023’s value of £12.5 billion.
“This has contributed to our relatively positive economic performance in the north – where we are outpacing Britain in terms of both output and export growth.
“The most fundamental source of our economic resilience is the talent and creativity of our people. In such a small island, with such a tight labour market, co-operation between the Irish and British Governments is crucial to resolving cross-border working.”
