SDLP Foyle MLA Sinead McLaughlin
She was speaking after the SDLP secured agreement of the Northern Ireland Assembly for the Minister for the Economy to work with the Irish government to establish a joint Invest NI-IDA Ireland working group to develop a clearly defined strategy to maximise the economic advantages afforded to the North.
Said Ms McLaughlin: “Brexit was the biggest act of self-sabotage that a country has ever inflicted upon itself. From fewer opportunities for young people to live, work and study abroad to the very real economic hit that the UK economy has now suffered as a result of increased trade barriers and supply chain difficulties, there is little doubt that leaving the European Union was predictably bad for business and bad for people’s life chances.
“The only ray of hope to have emerged from eight years of political turmoil, uncertainty and instability, is the unique dual market access afforded to Northern Ireland which now gives us a competitive advantage when it comes to trading with our European neighbours.
“While this cannot undo the damage of Brexit, it can give us some hope for the future that Northern Ireland can still enjoy unfettered free trade with our nearest neighbours.
“Here in the North West, we are uniquely placed to take full advantage of that dual market access in our cross-border region, with our key sectors particularly aligned to those that will benefit most from this access as well as the investment that will come from our City Deal.
“I am determined to hold the Economy Minister accountable for a strategy that benefits not just the sectors who can benefit the greatest from such access, but the places that can take most advantage of this opportunity as well.
“This is a unique selling point that can drive more businesses to our city and region and boost trade, as well as providing a counter-weight to some of the chronic problems that have traditionally afflicted our economic performance, such as low productivity.
“Businesses and economists are clear that this represents a huge opportunity and we must grasp it with both hands.
“In order to do that, we can’t just let the market do its work- government must also step in through dedicated interagency work to maximise the potential for all of our people.
“I am pleased that the Assembly supported our motion in the Assembly and look forward to holding the Minister for the Economy accountable on getting on with the job.”
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