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The T\u00e1naiste has predicted that Irish companies may move north of the border such is the \u201cextraordinary\u201d competitive advantage the Brexit deal offers the region.<\/p>\nThe T\u00e1naiste has predicted that Irish companies may move north of the border such is the \u201cextraordinary\u201d competitive advantage the Brexit deal offers the region.<\/p>\n
Simon Coveney said the terms of the agreement between the UK and EU presented an \u201cexciting and genuine opportunity\u201d for Northern Ireland to prosper.<\/p>\n
Addressing a gathering of business leaders in Belfast, Mr Coveney said entrepreneurs would see the rewards of setting up in a region operating under single market rules but with tariff free access to the UK market.<\/p>\n
\u201cIn time, when the politics of this settles down, business leaders will start to look at this for what it really is \u2013 which is an extraordinary business opportunity,\u201d he told the Belfast Chamber\u2019s annual lunch.<\/p>\n
Mr Coveney said if companies south of the border were faced with any trade barriers into the UK market post-Brexit they would likely look north.<\/p>\n
\u201cI think there will be a huge incentive for a lot of Irish companies to locate north of the border and to effectively operate the rules of the single market but at the same time have unfettered access to the UK,\u201d he said.<\/p>\n
\u201cI think business models will look at those opportunities and adapt to change over time.\u201d<\/p>\n
In his speech, Mr Coveney said a Brexit extension, if granted, was likely to be a flexible one that would allow the UK to leave the EU prior to the end of January next year.<\/p>\n
He said his government would back extension but cautioned that it was a case of \u201cwait and see\u201d if any of the other EU states raised \u201cissues\u201d with the move.<\/p>\n
The T\u00e1naiste also said the Irish and UK governments were committed to boosting investment in Northern Ireland post-Brexit, working together on major infrastructure projects.<\/p>\n
Mr Coveney also addressed the wrangle over how the Stormont Assembly will consent to the Brexit deal.<\/p>\n
A Stormont vote on whether to extend an initial four-year period for the post-Brexit arrangements will be done on the basis of a simple majority of MLAs.<\/p>\n
The move has angered the DUP, which insists that consent must be on the basis of a majority of unionists and a majority of nationalists agreeing to back the move.<\/p>\n
Mr Coveney said using the parallel consent model would lead to \u201cparalysis\u201d.<\/p>\n
\u201cIf cross-community support in the Assembly is required for any deal, the risk is paralysis, a zero sum game, and potentially no solution at all,\u201d he said.<\/p>\n
\u201cThere is no way in my view to set up a cross-community vote that doesn\u2019t give one side or the other \u2013 and in some cases one party or one other \u2013 a practical veto.\u201d<\/p>\n
Referring to events on Monday when Westminster legislation came into effect in Northern Ireland that decriminalized abortion and legalized same sex marriage, Mr Coveney said it was \u201cunfortunate\u201d that decisions on those sensitive social issues had not been taken by a devolved administration.<\/p>\n
He said a successful post-Brexit relationship could pave the way for the restoration of Stormont but warned that ongoing failure to revive the institutions could lead to \u201cmore decision-making in London\u201d.<\/p>\n
The T\u00e1naiste also moved to reassure unionists that the government was mindful of their concerns about the Brexit deal.<\/p>\n
\u201cIt has been a cause of genuine regret and concern for us that these negotiations have impacted negatively on our relationships with unionism, on political and community relationships within Northern Ireland, and on wider UK-Irish relationships,\u201d he said.<\/p>\n
Mr Coveney said many Irish businesses were raising questions over whether a \u201ccompetitive advantage\u201d for Northern Ireland had been deliberately designed into the agreement.<\/p>\n
\u201cI think that\u2019s a legitimate enough question but given the unique circumstances and pressure points of Northern Ireland through Brexit I think that\u2019s what we should be doing,\u201d he said.<\/p>\n
Mr Coveney told the audience at the Crown Plaza hotel: \u201cEntrepreneurship is about seeing the opportunity others miss. Where others only see risk, business leaders such as yourselves see the accompanying reward.<\/p>\n
\u201cI hope you can see that this deal provides an exciting and genuine opportunity for Northern Ireland while fully respecting the constitutional integrity of Northern Ireland as part of the UK.\u201d<\/p>\n