Central Border set for economic review

The economic future of five border counties, including Cavan-Monaghan, is set to come under the microscope as part of a new cross-border study.

Challenges and opportunities for the Central Border Region will be examined by the National Economic and Social Council (NESC), which has been commissioned by the Shared Island Unit of the Department of the Taoiseach to do the work. The decision has been welcomed by local Fianna Fáil TD, Brendan Smith.

The study will focus on Cavan, Monaghan, Fermanagh, Tyrone and Armagh - an area Deputy Smith has repeatedly warned remains vulnerable to potential economic shocks, and could risk being overshadowed by progress of much larger and more densely populated Dublin-Belfast corridor.

Confirmation that regional assessment will take place came directly from Taoiseach Micheál Martin, and follows years of pressure by Deputy Smith.

The Shared Island Initiative of the Department of the Taoiseach already provides a €2 billion commitment to support investment and co-operation across all sectors on cross-border and all-Ireland projects up to 2035.

“We need to plan in an ambitious, inclusive and positive manner and ensure that we prepare to realise the great potential of our region and develop our economy and create additional job opportunities,” he said.

First elected to Dáil Éireann in November 1992, Deputy Smith says he saw first-hand the “challenges” with the currency fluctuations and the movement of trade that devastated the local economy over many years, and believes the region should be “prepared for turbulence”.

Cross-border trade is particularly important to the region, with businesses operating across both jurisdictions and major sectors including agrifood, farming, engineering, construction products and tourism providing employment.

economic challenges

“The current global geopolitical uncertainty clearly shows the economic challenges that can arise,” he told the Celt. “In this context, a robust cross-border strategy needs to be put place to ensure we can react in a coherent and effective way.”

While there has already been “significant developments” with regards the Dublin-Belfast and also the Derry-Letterkenny cross-border corridors, Deputy Smith says he is concerned there needs to be a similar but “specific focus” on the Central Border Region.

“This area can be vulnerable because it is highly dependent on a small number of sectors, such as food, farming, construction products and tourism, Deputy Smith explained.

“Thankfully those sectors are vibrant, providing valuable employment and doing business in the domestic and international markets.”

The NESC study is set to get underway immediately, with the future outlook aimed at collating an “evidence-based” development strategy that will focus on a range of “achievable and quantifiable objectives”.

“We need to plan in an ambitious, inclusive and positive manner and ensure that we prepare to realise the great potential of our region and develop our economy and create additional job opportunities,” concluded Deputy Smith.