The Minister for Finance, Michael McGrath TD, is travelling to London for a three-day programme of engagements.

The programme, drawn up in partnership with the Embassy of Ireland in London and Enterprise Ireland, is focused on promoting Ireland as a location and partner for business, trade and investment, and to promote Ireland’s economic and financial interests.

The programme will focus on banking and financial services, with a number of engagements with senior management at a range of private sector entities, many of whom are clients of Enterprise Ireland and IDA Ireland, as well as engagements with industry representatives, the media and the Irish business community.

 

Two-way bilateral trade in goods and services between Ireland and the UK was worth over €122 billion in 2022—or about €2.4 billion per week. 1
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Two-way bilateral trade in goods and services between Ireland and the UK was worth over €122 billion in 2022—or about €2.4 billion per week. 2
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Andrew Bailey, Governor of Bank of England

Minister McGrath will meet with the Governor of the Bank of England, Andrew Bailey and the Lord Mayor of the City of London, Michael Mainelli.

Two-way bilateral trade in goods and services between Ireland and the UK was worth over €122 billion in 2022—or about €2.4 billion per week. 3
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Two-way bilateral trade in goods and services between Ireland and the UK was worth over €122 billion in 2022—or about €2.4 billion per week. 4
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Michael Mainelli

He will participate at a Chartered Accountants Ireland event for UK-based Irish accountants, and at an event with Euronext, operators of the Irish Stock Exchange.

The Minister will also join in a promotional engagement with Enterprise Ireland client companies, including those in the fintech sector.

There will also be media engagements in the form of a broadcast interview with Bloomberg to convey key messages regarding Ireland’s economy and public finances.

 

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Minister McGrath said:

The British-Irish relationship is deeply important and consequential.

We are co-guarantors of the Good Friday Agreement, and we are close neighbours who share unique and diverse community, cultural and sporting ties.

We are also very significant trading partners with important economic and strategic links.

Two-way bilateral trade in goods and services between Ireland and the UK was worth over €122 billion in 2022—or about €2.4 billion per week.

That figure reflects a mutual interdependence.

red double-decker bus passing Palace of Westminster, London during daytime
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After some challenging years, agreement on the Windsor Framework last year marked a new chapter not just in EU-UK relations, but also in relations between Ireland and Britain.

We hope to continue to build on the positive momentum that this has provided.

A close and constructive relationship between the EU and UK is very much in Ireland’s interests.

We have already seen positive progress building on the existing Trade and Cooperation Agreement, such as the agreement reached on UK associating itself with Horizon Europe and the first meeting of the EU-UK Financial Services Regulatory Forum.

I believe that it is important that we work together as like-minded partners in particular in the current geopolitical context, while on this visit I am placing emphasis on what Irish business and talent can offer in key sectors on the ground in Britain.

Minister Rabbitte said:

Bilateral trade between Ireland and the UK holds immense importance for both nations, given their geographical proximity and historical ties.

Our economic relationship is deeply intertwined, with each country serving as a significant trading partner for the other.

The United Kingdom is one of Ireland’s largest export markets, and vice versa, fostering a mutually beneficial exchange of goods and services which is worth over €122 billion in 2022—or about €2.4 billion per week.

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The interdependence in trade contributes substantially to job creation, economic growth, and overall prosperity on both sides.

The fluid movement of goods and services across the Irish Sea not only strengthens economic ties but also underscores the interconnectedness that has evolved over decades.

As both countries navigate the complexities of Brexit and global economic shifts, maintaining and nurturing the strength of this bilateral trade relationship remains crucial for the stability and success of their economies.

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