For local services businesses, the Republic of Ireland is an important and growing market says Stuart Anderson, Director of International Relations at NI Chamber of Commerce.
“It’s been the case for some time that Northern Ireland professional services have been operating in the southern market because they typically get a higher hourly rate,” he said.
He adds that the major infrastructure investments being planned by the Irish government is already creating export opportunities for NI-based engineering, construction and planning consultants.
“If you look at the infrastructure investment plans, the Irish government’s set out their €275bn plan over a 10-year period.
“So you’ve got a lot of engineers, construction services that I know, and I’m aware of, are working actively on southern infrastructure projects. And then you’ve got the renewables market as well.
“So whether it’s legal services, accounting services, or construction and engineering services, you can see an awful lot of work being done in the south because, one, there’s a clear pipeline, but two, there is also a higher rate of return for the services.”