Sinn Féin welcome publication of InterTradeIreland Report on North South Trade
Sinn Féin Economy Spokesperson, West Tyrone MP Pat Doherty has welcomed the publication of the InterTradeIreland report on North South Trade but has called for the creation of a single measure on trade within the Ireland and a greater focus on developing the potential of trade within Ireland.
Mr Doherty said:
"The report from InterTradeIreland (North South Trade: a statistical ground clearing exercise) marks an important point in understanding the dynamics and importance of trade between the north and south of Ireland.
"However, the fact that data has had to be gathered from three different bodies points the urgent need to develop a single measure for monitoring economic activity between the two parts of this island.
"It is clear that the volume of trade has significantly increased over the past decade. The value of all manufacturing goods 'exported' from the north to the south has doubled and now account for 25% of our non-UK exports.
"While the overall value and volume of goods from the south to the north has also increased it is clear from this statistical analysis that there is a far greater potential for growth in the volume and value of internal trade. In particular southern businesses need to wake up to the opportunities that exist in doing business with their northern counterparts.
"Work on removing barriers to developing the all Ireland economy needs to continue. In recent weeks there has been the recognition about the importance of a single energy market, we now need to wake up to the other opportunities that exist particularly in developing and growing indigenous business."