IRELAND, Dublin. Bord Bia brought together over 180 Irish food and drink exporters and experts from the UK food retail market to share information on the post Brexit trading landscape and to outline the organisation’s measures for supporting companies as they navigate the new trading environment.
The Irish companies, who had highlighted the need for information in Bord Bia`s post-Brexit survey, received insights from experts on current UK and EU market conditions and currency management. The ensuing panel discussions were designed to help exporters identify future pressure points in their business models that may require attention.
Opening the briefing session, Aidan Cotter, Chief Executive, Bord Bia said, “The purpose of the briefing is to explore and begin to understand the implications of Brexit for a market that takes 41% of our food and drink exports, valued at €4.4 bill. Our hope is that today`s event may advance all of our deliberations and if we can`t resolve the uncertainty, and clearly we can`t, that at least we can now begin to learn how we can deal with it and live with it. The learnings from today and our ongoing close contact with our clients will inform our future supports for the sector.”
Brid Cannon, Assistant Secretary General, Department of Agriculture Food and the Marine presented an overview of potential UK/EU trading relations. She sketched out the timetable for negotiating the UK exit, the subsequent trade agreement framework and the time available to companies to adapt to any new trading environment. James Walton, Chief Economist with IGD gave an insight into the macroeconomic implications of the Brexit on the UK grocery market and John Fahey, Senior Economist with John Sheils, Senior Relationship Manager, both from AIB dealt with the immediate concern of companies in relation to currency exposure.
Aidan Cotter, in presenting Bord Bia’s support measures for food companies said, “These measures were tailored to the needs of exporters and informed by one-to-one contacts with our clients and our post Brexit survey, and will now be supplemented as necessary following today`s exchanges. They are focused on assisting companies maintain their competitiveness through providing advice on managing volatility impacts, provision of consumer and market insight, deepening customer engagement and extending market reach”.
Source: Bord Bia