FTMTA News 30th June 2016

Machinery Industry and “Brexit”

FTMTA believes that it is too early to say what the impact of the UK exiting the EU will be for the Irish machinery sector, or indeed any other sector, in the long term. Much will depend on what sort of subsequent relationship is negotiated between the UK and EU. Obviously import tariffs, in either direction, have the potential to be very damaging to trade but there is also the potential for non financial barriers such as customs documentation and procedures.

The UK has long been an important market for Irish machinery manufacturers but is now somewhat less so than in the past. Irish  manufacturers have a worldwide reputation for high quality and innovative agricultural mechanisation solutions, mainly based on Irish livestock and dairy farming’s strengths in grass based production. A significant element of Irish machinery production  goes to markets  much further afield than in the past with substantial markets in continental Europe and also as distant as the southern hemisphere.

FTMTA also includes some Northern Ireland based manufacturers in its membership and wants to see those firms continue to remain competitive in the market in the Republic and wider EU.

Brexit

 

Be a part of a stronger farm machinery industry – join the Farm Tractor and Machinery Trade Association – contact FTMTA at 045 409309 or membership@ftmta.ie for details.

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