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The Irish Advantage - Stability and Compliance News

Stability, compliance and a global mindset create trust for customers

The Irish Government has clearly stated its intention to remain a fully committed member of the EU. In fact, Irish people are the most optimistic among member states about the future of the EU. According to the latest Standard Eurobarometer poll, 77% of Irish people feel this way, compared to an EU average of only 50%.

In light of Brexit, the question of supply chain stability has become a pressing issue for companies worldwide. Ireland will continue to be an active and committed EU member. This means certainty and continuity for EU customers purchasing from Irish companies – and no risk of supply chain interruption, new tariffs or legal complications arising. This is of critical importance to customers in sectors with a strong regulatory system, for example, Pharma and Fintech.

Irish companies think globally – for many of our business to business companies, exports account for more than 90% of sales.

Irish companies also have a long history of serving major global multinationals with Irish operations: the country is home to nine of the top ten global ICT companies, nine of the top ten global pharmaceutical companies, 17 of the top 25 global medical devices companies, and more than half of the world’s leading financial services institutions.

Having supplied these global multinationals for decades, Irish companies are outstanding on the world stage when it comes to compliance with international regulations. They are used to working to the codes of practice and approval bodies of both the EU and the US – for example, the FDA and European Medicines Agency.

In the uncertain post-Brexit era, Irish companies provide the reassurance that they are operating from a country with a stable supply chain.

Ireland was deemed to be the third-most resilient country to disruption in the world, according to the 2016 FM Global Resilience Index.

The study finds that Ireland’s supply chain is exceptionally strong in terms of quality of infrastructure, local supplier quality and supply chain visibility.

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