Business First September 2017 Business First September 2017 | Page 54

TECH 2020

Foyle Port – charting our post-Brexit course

By George Fleming , President , Londonderry Chamber of Commerce

T

he past year has seen a sea­change in the political landscape across these islands . The Leave vote in the 2016 referendum kicked off a politically turbulent year where we have suffered from a collapsed Executive in Northern Ireland , and gone to the polls twice at both the Assembly and Westminster .
The Conservative Government lost its majority in the Westminster election in June and is now relying on a confidence and supply deal with the DUP , in what has been an eye­opening few months . The DUP­Tory deal is to deliver a £ 1.5 billion package for Northern Ireland with a large part of that earmarked to progress infrastructure projects . However , in the absence of an Executive , it remains to be seen if that money appears . It is no secret that we need to see the A5 and A6 projects progress quickly , to improve the North­West ’ s connectivity across the island .
Whilst we have become accustomed to seeing a more confident and outward looking Northern Ireland emerge on the world stage , Brexit now looms large . Here in Northern Ireland it is viewed as a threat to peace and stability , as well as a threat to the economic progress we have made in recent years .
Despite this political turmoil and uncertainty , the North­West region is strategically placed in a number of ways , to meet the very real challenges presented in a post­Brexit reality . The North West has not always been at the front­end of investment opportunities that have flowed into Northern Ireland in recent years , but with our position on the Foyle and our proximity to the Republic , we are now perfectly situated to handle these new­world challenges .
Foyle Port is an excellent case study for the challenges of Brexit and the movement of people , goods and services . They are a UK Trust Port with 50 % of trade imported from the EU by sea with 40 % of their trade reexported to the Republic of Ireland by road . As a strategic economic asset , the Port will play an essential role as an invaluable gateway to the Republic , the EU and beyond . Many people in our city may not be aware of the instrumental part it plays in ensuring the North­West economy is well­served , however , it is one of our most important regional assets with the capacity required for future growth .
The Port has a rich heritage . There are not a lot of companies about today that have been going since the 1800s . It operates in NI and the Republic and around £ 1 billion worth of goods such as coal , oil , animal feed and plywood pass through it each year .
Under the leadership of fellow Chamber board member , Brian McGrath , it has gone through a transformative growth process . The organisation has more than trebled in size . It handles over 2 million tonnes of cargo per year and now employs almost 100 people directly and supports more than 1,000 jobs in
the region . All of the Port ’ s profits are reinvested to ensure that it continues to provide first rate services and remains competitive for its customers and future generations to come .
The Port ’ s importance to our continued economic success cannot be underestimated . It is a crucial gateway for us and will be our link to the EU and the business opportunities that exist there . It will also prove to be a vital connection between Northern Ireland and the Republic where co­operation has flourished in recent years . The jurisdictions rely on each other and that relationship must be protected after Brexit has taken effect .
The North­West has made significant progress in recent years in developing our regional tourism product . The team at Foyle Port are progressing with exciting plans to develop Lough Foyle as an international cruise destination which could transform the regional tourism offering . This vision requires political cross border support .
We are still unsure what type of Brexit we are facing , but the case must be made by our political leaders and the business community , that a hard border is not good for anyone . The progress we have made in the last decade has been good , but we have always had to work harder to ensure those benefits travel as far as the North­West and the border region .
Many will see Brexit as a major threat , however with strategic assets like Foyle Port , we must harness this potential and seize the opportunities that Brexit can bring . That means supporting and defending what we have and making sure that the correct conditions exist to allow this to happen .
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