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29/01/2004
Further research commissioned into NI competitiveness
"Strengthening the competitive position of Northern Ireland as a good place in which to do business is vital to securing continued economic growth," according to NIO Enterprise, Trade and Investment Minister Ian Pearson.
Addressing the annual dinner of the CBI / IBEC Joint Business Council in Stormont’s Parliament Buildings, Mr Pearson said: "In order to monitor the Northern Ireland economy’s competitive position, I have commissioned detailed research from the newly-formed Economic Research Institute of Northern Ireland (ERINI). This research will form part of ERINI’s core work programme. It will benchmark the performance of the Northern Ireland economy against other regions; examine the competitiveness of key sectors and update and extend work on the cost of doing business.
"This research exercise will run on an annual basis and will be vital in monitoring progress and identifying areas for improvement. We will also look to ERINI to act as a catalyst in increasing the capacity for research of local policy relevance within the local universities.”
Mr Pearson congratulated the members of the Joint Business Council for their development of North/South economic and business links, and pointed out that cross border trade has almost doubled in the last 10 years.
"Provisional data for 2002/03 shows that the value of goods sold to the Republic increased by almost 7 per cent over the previous year to £1billion," he said. "It is increasingly obvious that, despite the prevailing difficult global economic circumstances, businesses on both sides of the border are realising the opportunities that lie on their doorsteps"
The Minister also welcomed the Joint Business Council’s recent statement supporting the creation of an all-island energy market which he said would be beneficial to industrial, business and domestic customers.
(SP)
Addressing the annual dinner of the CBI / IBEC Joint Business Council in Stormont’s Parliament Buildings, Mr Pearson said: "In order to monitor the Northern Ireland economy’s competitive position, I have commissioned detailed research from the newly-formed Economic Research Institute of Northern Ireland (ERINI). This research will form part of ERINI’s core work programme. It will benchmark the performance of the Northern Ireland economy against other regions; examine the competitiveness of key sectors and update and extend work on the cost of doing business.
"This research exercise will run on an annual basis and will be vital in monitoring progress and identifying areas for improvement. We will also look to ERINI to act as a catalyst in increasing the capacity for research of local policy relevance within the local universities.”
Mr Pearson congratulated the members of the Joint Business Council for their development of North/South economic and business links, and pointed out that cross border trade has almost doubled in the last 10 years.
"Provisional data for 2002/03 shows that the value of goods sold to the Republic increased by almost 7 per cent over the previous year to £1billion," he said. "It is increasingly obvious that, despite the prevailing difficult global economic circumstances, businesses on both sides of the border are realising the opportunities that lie on their doorsteps"
The Minister also welcomed the Joint Business Council’s recent statement supporting the creation of an all-island energy market which he said would be beneficial to industrial, business and domestic customers.
(SP)
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
