Page 41: of Marine Technology Magazine (May 2017)

The Marine Development Team will act as an entry and con- and economic growth required to meet targets. There will also tact point for businesses with interests in any area of Ireland’s be participation in international trade shows and conferences, marine economy and will channel suitable business prospects as well as international trade missions, and a focus on devel- to the relevant development agencies. The team will also have oping opportunities for international collaboration.

a role in supporting the development of very-early-stage start- “A number of activities are well underway or at the planning up businesses with a marine interest up to the point at which stages,” she added. “At the end of 2016, Enterprise Ireland and they are prepared to engage further directly with agencies in relevant agencies launched the Irish Marine Industry Network terms of accessing funding and other supports. and there will be a series of networking events launched this

Existing and future activities that the Marine Development year, including the opportunity to participate in an Ireland Pa-

Team, the Irish Maritime Development Of? ce and the relevant vilion at international trade shows such as Nor-Shipping. We agencies will be engaged in include mapping and consolidat- also attended Oceanology North America as a follow-up to ing existing expertise across the research and enterprise land- San Diego Blue Tech Week hosted by The Maritime Alliance scape; developing critical capacity in key areas through the last November.” development of national networks, clusters and incubation programs; developing dedicated funding programs; and creat- Finding the money ing knowledge-sharing opportunities and running a series of “Under the new European Maritime and Fisheries Fund Op- events to coordinate resources and activities in key areas. erational Programme, new dedicated funds of 10.6 million “Other activities will include developing a ‘Marine Ireland’ targeted at integrated maritime policy initiatives have sup- brand and online portal and marketing message that will pro- ported the establishment of the Marine Development Team mote and facilitate access to opportunities in Ireland’s blue to operationalize the enterprise and business development economy,” said O’Connor, “as well as supporting and devel- aspects of the Harnessing Our Ocean Wealth strategy,” said oping ? agship projects of scale that can really deliver the jobs O’Connor. “In addition, the Marine Coordination Group pro-

Brexit & the Irish Marine Economy

The full extent of the potential implications of Brexit remain unknown. As the U.K.’s largest trading partner, Ireland has ex- perienced knock-on effects in terms of the devaluation of ster- ling, but the wider implications will only become clear following the formal noti? cation of intention to withdraw by the U.K. and new trade discussions between the U.K. and the EU begin.

The re-imposition of borders and customs controls, for exam- ple, will likely negatively impact bilateral trade ? ows between

Ireland and the U.K., and the movement of goods from Ireland to wider locations through the so-called U.K. ‘land bridge.’

Ireland’s marine economy could also be affected due to the fact that overall Irish GDP may suffer in the period after the

U.K. leaves the EU. This may impact demand for Irish shipping services in the areas that are most exposed to Irish consump- tion, such as RoRo and LoLo traf? c.The IMDO is working closely with Ireland’s shipping industry to identify any likely impacts and ensure that industry is prepared.

Conversely, it may also present opportunities for Ireland. For example, Ireland’s existing reputation in international ? nancial services may prove attractive to businesses involved in mari- time commerce wishing to continue to avail of EU passport rights for ship ? nance and marine insurance services. Ireland has also established itself as a leader in aircraft leasing, an expertise that is transferable to ship leasing. There is also po- tential for the country to become more successful in attracting other new supply chains in the post-Brexit European market- place as buyers seek to avoid paying higher tariffs and associ- ated customs charges.

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