Matheson and British Ambassador to Ireland host business briefing
Ten years on from the UK’s decision to leave the European Union, a clearer but still incomplete picture is emerging. The Ireland–UK relationship has entered a more stable phase, while EU–UK engagement is advancing more gradually, with a number of substantive issues still to be resolved.
These themes were at the centre of a Matheson discussion hosted by the British Ambassador to Ireland, Kara Owen, at her official residence in Dublin last night. The event saw contributions from former Tánaiste and Minister for Foreign Affairs, Simon Coveney, and the Financial Times’ Chief Foreign Affairs Commentator, Gideon Rachman, alongside Matheson Managing Partner, Darren Maher, who each reflected that progress has been made and that work remains to be done.
Drawing on his experience from being at the centre of Ireland’s response to Brexit, Simon Coveney reflected on how the tone and substance of engagement have shifted, and underlined how the focus now needs to shift to areas of mutual interest. Gideon Rachman, based on his reporting across Europe and beyond, set out how these relationships are now viewed internationally.
There was a clear sense of momentum in the Ireland–UK relationship, with the outcomes of the recent Cork Summit, the bilateral summit between the Irish and UK governments, seen as an important step in resetting engagement between the two governments.
EU–UK relations, by contrast, remain under active negotiation. The expected EU–UK Summit in the autumn is likely to be a significant moment, particularly in advancing cooperation on energy and a potential sanitary and phytosanitary (SPS) agreement, an area of particular relevance for food and agri-food businesses operating across the island of Ireland. There was also a consistent view that closer alignment will be required on security and defence.
For businesses, the direction of travel is becoming more defined, even if complexity remains. Questions around regulatory divergence, market access and cross-border investment continue to shape decision-making for companies operating across Ireland, the UK and the EU. While uncertainty has not fully receded, the operating environment is clearer than it has been in recent years.
Matheson Managing Partner Darren Maher said: “There is a clearer sense now of how the relationships between Ireland and the UK and the UK and the EU are evolving, but also a recognition that some of the more difficult issues, including regulatory divergence and the SPS framework, are still playing out. That has practical implications for businesses making decisions on investment, structure and market access.”
Pictured (L-R): Matheson Managing Partner, Darren Maher; British Ambassador to Ireland, Kara Owen; Gideon Rachman, Chief Foreign Affairs Commentator of the Financial Times; and Simon Coveney, former Tánaiste and Minister for Foreign Affairs.
