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The Government has launched a new initiative to make the country a global hub for legal services post-Brexit.<\/p>\nThe Government has launched a new initiative to make the country a global hub for legal services post-Brexit.<\/p>\n
Justice Minister Charlie Flanagan said the aim of the initiative, which is being led by the Council of The Bar of Ireland in conjunction with the Law Society of Ireland, was to \u201cpositively exploit\u201d opportunities in the legal sector after the UK leaves the EU. It is also supported by the IDA.<\/p>\n
Mr Flanagan said it would now form a component of the Government\u2019s Brexit strategy.<\/p>\n
It comes after cabinet ministers met on Thursday to discuss the country\u2019s contingency plans in the event of a no-deal.<\/p>\n
They agreed to prepare Brexit legislation over the coming weeks, but not introduce it into parliament until March if needed.<\/p>\n
Minister Flanagan said: \u201cWhile the ultimate outcome of the Brexit negotiations remains to be seen, the withdrawal of the UK from the European Union will leave Ireland as the only English-speaking common law jurisdiction in the Union.<\/p>\n
\u201cWe will be well-placed to provide expanded international litigation and arbitration services.\u201d<\/p>\n
He added: \u201cWe recognize the initiative as a timely means of positively exploiting the competitive advantages of our courts and legal systems, which are of global renown, in the provision of EU and other international legal services in a post-Brexit setting.\u201d<\/p>\n
The Council of the Bar of Ireland welcomed the government\u2019s approval of the initiative.<\/p>\n
Chairman Micheal P O\u2019Higgins SC said: \u201cWe are already seeing an uptake in international businesses seeking to make Ireland their European base, so it is prudent that there would be a coordinated and strategic approach \u2013 across all sectors \u2013 to ensure that Ireland capitalizes on this in whatever way it can.<\/p>\n
\u201cThe legal sector is no different and that is why the Council of The Bar of Ireland has been driving this initiative for the past 18 months.\u201d<\/p>\n
He added: \u201cThe growth of international legal services here stands to deliver a very positive knock-on effect because if Ireland becomes a place in which international litigation and arbitration is routinely carried out, it also inevitably enhances the reputation of Ireland as a place to do business.<\/p>\n
\u201cThe UK\u2019s departure from the EU creates a real opportunity for Ireland, not only for legal services but also for the wider economy. We have estimated that even a 1% movement of legal services from the UK to Ireland could add between 1,100 and 1,600 jobs to the Irish economy in a year.\u201d<\/p>\n