Bord Bia: 80% of exporters see potential in Brexit
A new report launched by Bord Bia this week shows a renewed optimism among Ireland's food and drink industry, when it comes to a future trading relationship with the UK market, currently worth more than €4bn annually.
30 June 2017 | 0
Optimism about the Irish food and drink industry’s trading relationship with the UK market, worth over €4 billion last year, has begun to grow again according to a new report by Bord Bia.
According to the organisation’s Brexit Barometer, almost 80% exporters surveyed believe there is still significant potential for future growth in the UK market, despite the fact that 85% of respondents are facing competition from UK based suppliers and 61% don’t have a marketing strategy for the market.
Over a 28 day period, some 139 food, drink and horticulture exporters completed Bord Bia’s Barometer, a risk analysis tool designed to help individual companies assess their exposure to six specific risk areas associated with Brexit: routes to market, customs and tax, supply chain, trade, currency and human resources. A large portion of these surveys were completed face-to-face, resulting in vast amounts of data gathered.
The results were presented to 120 senior industry representatives at Bord Bia’s HQ, by CEO Tara McCarthy.
“Brexit will demand a nuanced and concerted response from every level of the food industry,” McCarthy said. “It will require new skills, new approaches and new thinking, while we will need to be innovative, agile, informed and prepared as never before.
“The publication of today’s report is part of Bord Bia’s commitment to develop a data-driven response to Brexit,” McCarthy continued. “We now have the hard facts and evidence that permit us to ruthlessly focus on what our industry needs most. Notwithstanding the challenges ahead, I believe Brexit can be a catalyst for real, positive change within the industry and Bord Bia.”
For more information on Bord Bia’s Brexit Barometer or the seminar, visit www.bordbia.ie/brexitbar