Irish Business Group Warns Of Brexit Impact On Food And Drink Industry
Food and Drink Industry Ireland (FDII), which represents businesses in the Irish food and drinks industry, has warned that the recent Brexit could represent a 'substantial threat to thousands of jobs' in the sector.
The group called on the Irish government to 'respond decisively', engaging in an immediate policy review in order to lessen the impact of Brexit on Irish businesses.
A recent survey of Irish food and drinks companies found that 64% said exchange rate movements would have a negative impact, while 42% expected negative impact on the value of export sales.
“Urgent action is now required to protect our vital exports to the UK market, limit damage in the domestic market from imports, and address competitive pressures caused by the fall in sterling," said FDII director Paul Kelly.
"A failure to act will compound the pressure on exporters, undermine Ireland's long-term position in the market and threaten jobs."
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.