The IEA stated the Initiatives announced would go a long way to building business confidence and improving the competitiveness of many small business trying to expand into export markets. 

The IEA in particular welcomed the VISA free movement between Ireland and the UK, which will enable business people from non EU countries to more easily and speedily visit Ireland after landing in the UK.

IEA chief executive John Whelan stated;
"One of the most annoying  and commonly complained  barriers to export trade development with the fast growth economies of China, India and Russia has been the added visa requirement for business people transiting from the UK to Ireland and forced to apply in advance for a second Visa. The commitment to abolish this requirement will be widely welcomed by all exporters, who have struggled to get business clients to visit their promises to close sales contracts.''

John Whelan further commented:

''The employers PRSI reductions will help those businesses competing with lower wage economies. The Reform of R&D tax credit rules will also help R&D investment and job creation in Ireland. The commitment to a loan guarantee scheme is also welcome news for many credit-stretched businesses, but should be linked to an export credit guarantee scheme, and we would hope to see a realistic review of this latter aspect of trade finance."

"It is essential that there are not permanent disincentives to pension fund development left in place and that the current levy is indeed temporary. With many pension funds already in serious difficultly and the levy could prove the tipping point to closure of the schemes. "

ENDS