NORTHERN Irish firms are being encouraged to broaden their horizons when it comes to exporting their goods.
According to Barclays there is huge potential for Northern Ireland companies to export goods and services to Africa.
Their research found that firms here are hesitant to explore Africa as an export destination but those that have broken into the market have found a willing reception.
Adrian Doran, head of corporate banking at Barclays Northern Ireland, said:
“The current low level of business is understandable as, for many exporters, Africa is the final frontier and its vast and diverse nature can make trading with the continent seem simply too much of a challenge.
“However, Africa’s rapidly expanding middle-class increasingly need goods and services which cannot be catered for domestically, providing a golden opportunity for local businesses.”
The Barclays report ‘Trade With Africa’ surveyed 50 companies in Northern Ireland and 150 in the Republic about their views on Africa as a place to do business.
In Northern Ireland around two thirds of respondents said they were hopeful that the opportunity to trade with Africa will develop in the next decade.
In other jobs news the Minister for Employment and Learning, Dr Stephen Farry MLA, has responded to a discussion paper on a review of employment law in Northern Ireland.
The discussion paper sought views from stakeholder organisations and members of the public on a number of outline proposals. These proposals fall under three broad themes: early resolution of workplace disputes; tribunal reform; and measures to reduce regulatory burdens.
Detailing his response to the discussion paper and plans for the review, Dr Farry said: “Northern Ireland is the only region of the UK where employment law is devolved. We therefore have the opportunity to develop an employment law system that works in the interests of business, helps our economy to grow, attracts investment, encourages companies to recruit new staff and at the same time provides sufficient protection for the rights of employees.
“We can create a local modern, efficient and integrated employment relations system where economic competitiveness and workers’ rights are balanced.”
“Devolution allows us to shape employment law and its implementation to suit the particular interests of Northern Ireland. We must grasp this opportunity and that is why I have initiated a fundamental review of the employment law system here,” he concluded