READY FOR TAKE-OFF
Ready for take-off
Suzanne Breen
AS we enter 1999 and the new millennium approaches, there is one unanimous message from business leaders in Northern Ireland - give peace a chance.
They insist that political stability is essential if there are to be major economic advances. Progress will, of course; be possible even within an uncertain and difficult atmosphere.
But given harmonious and settled conditions the economy would really take off. It would be much easier to attract both inward investment and tourists to Northern Ireland.
In terms of moving towards political stability, it has been a mixed year for the North. To the surprise of many observers, the parties at the talks reached a deal and the Belfast Agreement received a massive 71 per cent endorsement in the May referendum.
The establishment of the Stormont Assembly, and the planned devolution of wide-ranging powers to local politicians, is also seen as a positive move by the business community.
However, the killing of the three Quinn children in Ballymoney, Co Antrim, and street violence during the Drumcree stand-off, as well as the Omagh bomb in which 29 people died, reinforced the old image of Northern Ireland as one of the world's leading trouble spots.
Both republican and loyalist dissidents, continue to represent a threat, albeit a reduced one, to the peace process. Even minor outbreaks of paramilitary violence can be a setback for the North's economy. One night of confrontation between the RUC and the loyalist protestors at Drumcree and the image of Northern Ireland abroad can plummet in the space of a few hours.
The Belfast Agreement with the proposed new North-South structures has opened up the possibility of greater cross-Border economic co-operation.
Mr Empey says while he welcomes this, it must be within clear limits and in areas where the benefits are clear. "I am all for promoting cross-Border trade and supply chains as a way of import substitution. There are also many advantages to co-operation on tourism.
"But there must be no attempt to present the Republic and Northern Ireland as a single economic entity. That wouldn't work. We have two different fiscal systems and grant regimes and in the near future, with the Republic joining the euro, we will have different currencies."
Nationalists, unsurprisingly, are more ambitious. The North's deputy First Minister, Seamus Mallon, insists there are "huge benefits" to be gained from a one-island approach to many economic and social issues.
"It is the North which has most to gain from trading with the most successful economy in Europe - forecast to grow by over 5 per cent per year over the next' three years," he says.
He believes the cross-Border bodies will play a crucial role. "The significance of the North-South structures is more than symbolic. It is practical, delivering real benefits for both parts of the island."
Despite the current political difficulties at Stormont and the impasse over decommissioning, he is optimistic about the future. "A peaceful, prosperous Northern Ireland at ease with itself and with the world - is achievable.
The Northern Secretary, Dr Mo Mowlam, is equally upbeat. The Belfast Agreement and the establishment of the Assembly have helped "open up new horizons for a region which is looking forward to the new millennium with increasing confidence", she says.
Tourism has been identified as a key to regenerating the North's economy. In 1995, the first full year of peace, the number of holiday visitors increased by two-thirds from 270,000 to 430,000.
There are now four flights a week from New York and Boston to Belfast and a Brussels air service started this year. However, tourism in the North still accounts for only 2 per cent of GDP, compared with 5-6 per cent in Scotland and the Republic.
If the North could reach the same level, 20,000 new jobs would be created, tourist chiefs reckon.
Suzanne Breen
AS we enter 1999 and the new millennium approaches, there is one unanimous message from business leaders in Northern Ireland - give peace a chance.
They insist that political stability is essential if there are to be major economic advances. Progress will, of course; be possible even within an uncertain and difficult atmosphere.
But given harmonious and settled conditions the economy would really take off. It would be much easier to attract both inward investment and tourists to Northern Ireland.
In terms of moving towards political stability, it has been a mixed year for the North. To the surprise of many observers, the parties at the talks reached a deal and the Belfast Agreement received a massive 71 per cent endorsement in the May referendum.
The establishment of the Stormont Assembly, and the planned devolution of wide-ranging powers to local politicians, is also seen as a positive move by the business community.
However, the killing of the three Quinn children in Ballymoney, Co Antrim, and street violence during the Drumcree stand-off, as well as the Omagh bomb in which 29 people died, reinforced the old image of Northern Ireland as one of the world's leading trouble spots.
Both republican and loyalist dissidents, continue to represent a threat, albeit a reduced one, to the peace process. Even minor outbreaks of paramilitary violence can be a setback for the North's economy. One night of confrontation between the RUC and the loyalist protestors at Drumcree and the image of Northern Ireland abroad can plummet in the space of a few hours.
The Belfast Agreement with the proposed new North-South structures has opened up the possibility of greater cross-Border economic co-operation.
Mr Empey says while he welcomes this, it must be within clear limits and in areas where the benefits are clear. "I am all for promoting cross-Border trade and supply chains as a way of import substitution. There are also many advantages to co-operation on tourism.
"But there must be no attempt to present the Republic and Northern Ireland as a single economic entity. That wouldn't work. We have two different fiscal systems and grant regimes and in the near future, with the Republic joining the euro, we will have different currencies."
Nationalists, unsurprisingly, are more ambitious. The North's deputy First Minister, Seamus Mallon, insists there are "huge benefits" to be gained from a one-island approach to many economic and social issues.
"It is the North which has most to gain from trading with the most successful economy in Europe - forecast to grow by over 5 per cent per year over the next' three years," he says.
He believes the cross-Border bodies will play a crucial role. "The significance of the North-South structures is more than symbolic. It is practical, delivering real benefits for both parts of the island."
Despite the current political difficulties at Stormont and the impasse over decommissioning, he is optimistic about the future. "A peaceful, prosperous Northern Ireland at ease with itself and with the world - is achievable.
The Northern Secretary, Dr Mo Mowlam, is equally upbeat. The Belfast Agreement and the establishment of the Assembly have helped "open up new horizons for a region which is looking forward to the new millennium with increasing confidence", she says.
Tourism has been identified as a key to regenerating the North's economy. In 1995, the first full year of peace, the number of holiday visitors increased by two-thirds from 270,000 to 430,000.
There are now four flights a week from New York and Boston to Belfast and a Brussels air service started this year. However, tourism in the North still accounts for only 2 per cent of GDP, compared with 5-6 per cent in Scotland and the Republic.
If the North could reach the same level, 20,000 new jobs would be created, tourist chiefs reckon.
Further Information
Publisher: THE IRISH TIMES
Ref: IT/367
Published Date: 14-Dec-98
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