Press release
NSMC JOINT COMMUNIQUÉ - Trade And Business Development Meeting
From Department of Foreign Affairs
Published on
Last updated on
From Department of Foreign Affairs
Published on
Last updated on
JOINT COMMUNIQUÉ
1. The twenty second North South Ministerial Council Trade and Business Development meeting was held in the NSMC Joint Secretariat Offices, Armagh, on 26 April 2024. The meeting was attended by Conor Murphy MLA, Minister for the Economy, Pam Cameron MLA, Junior Minister, The Executive Office, and Peter Burke TD, Minister for Enterprise, Trade and Employment. Minister Murphy chaired the meeting.
INTERTRADEIRELAND PROGRESS REPORT
2. The Council welcomed the overall achievements of InterTradeIreland from 2021 to date, and commended the valuable contribution that InterTradeIreland has made through its trade and development programmes for small and medium-sized companies trading across the border and in both jurisdictions.
3. Ministers recognised the positive impact of the innovation and technology programmes administered by InterTradeIreland, and its support for building relationships between companies and researchers.
4. The Council noted InterTradeIreland’s research priorities for 2024: a study of the business supports ecosystem across the island; research into the changing nature of trade on the island; offshore wind and hydrogen energy; cross-border services trade; artificial intelligence; and access to funding.
5. Ministers welcomed the work of InterTradeIreland, alongside Enterprise Ireland and Invest NI, in developing a cross-border enterprise cooperation scheme, which was recently awarded €30m in Shared Island funding.
CORPORATE GOVERNANCE MATTERS
6. The Council approved the InterTradeIreland Business Plans and Budgets/Grants for 2022, 2023 and 2024, which have been completed in accordance with agreed guidance issued by the Department of Finance (DoF) and the Department of Public Expenditure, NDP Delivery and Reform (DPENDPR), and have been agreed by Sponsor Departments and Finance Ministers.
7. Ministers approved the InterTradeIreland 2023-2025 Corporate Plan, which has been completed in accordance with agreed guidance issued by DoF and DPENDPR, and has been agreed by Sponsor Departments and Finance Ministers.
8. The Council noted InterTradeIreland’s Annual Reports and Accounts for 2020 and 2021, which have been certified by the Comptrollers and Auditors General and laid before the Northern Ireland Assembly and both Houses of the Oireachtas, and the Annual Report and Accounts for 2022 which will be laid shortly.
9. The NSMC approved the recommended increase of InterTradeIreland’s staffing complement from 42 to 65, to assist it in meeting the increased demand for its services.
COLLABORATIVE RESEARCH AND DEVELOPMENT
10. Ministers noted the position in relation to the Horizon 2020 Programme, the progress and current position of North/South collaboration in relation to the Horizon Europe Programme and welcomed the opportunities available following the UK’s association to the Programme.
11. The Council noted the achievements and current position of the US-Ireland R&D Partnership, noting it has now provided over $100m in funding to researchers collaborating on 55 projects in the three jurisdictions.
12. The NSMC noted recent achievements of the InterTradeIreland Synergy Programme, which includes the Synergy flagship project, The Fintech Corridor.
ADDRESSING CLIMATE CHANGE AND LOSS OF BIODIVERSITY
13. The Council noted the focus on sustainability as a cross-cutting theme in a number of InterTradeIreland’s programmes and InterTradeIreland’s plans for upcoming research in offshore wind and hydrogen energy.
14. Ministers agreed that officials and InterTradeIreland will continue to engage to identify opportunities to address climate change and loss of biodiversity from both the policy and operational perspectives.
DATE OF NEXT MEETING
15. The Council agreed to hold its next NSMC Trade and Business Development meeting in Autumn 2024.
Joint Secretariat
26 April 2024
Website www.northsouthministerialcouncil.org