Benefits of Dual Market Access for your business
Northern Ireland benefits from unique trading arrangements that offer significant advantages for businesses:
Access to two major markets
Businesses in Northern Ireland have the advantage of seamless access to both the UK's internal market and the European Union's Single Market for goods. This dual access facilitates trade in both direction.
Simplified EU trade
Businesses in Northern Ireland experience these unique benefits:
- Reduced paperwork: Unlike businesses in the rest of the UK, Northern Ireland traders generally do not need to complete customs declarations or commercial invoices when trading goods with EU customers and suppliers, saving time and reducing administrative burden.
- No tariffs on goods in circulation: Once goods are within Northern Ireland or the EU, they can move freely between the two without additional tariffs, regardless of their original source after initial import into Northern Ireland or the Single Market. This eliminates the need for Certificates of Origin for preferential treatment.
- Streamlined VAT: EU intracommunity VAT rules continue to apply. This means import VAT is not paid upfront on goods moving between the EU and Northern Ireland; instead, the purchaser accounts for it.
Consistent EU trade rules
To maintain access to the EU Single Market, Northern Ireland aligns with relevant EU regulations (mainly for goods). This ensures a stable and predictable trading environment with the EU, unlike the potential for divergence in trade between Great Britain and the EU.
Unfettered access to the UK market
The UK Government guarantees that goods originating from Northern Ireland (Qualifying Northern Ireland Goods - QNIG) have unrestricted access to the internal UK market without facing additional standards or regulations. This provides a clear advantage over EU goods entering Great Britain, which must comply with all UK import requirements
How does Dual market Access work?
The unique trading arrangements for Northern Ireland are established through the Northern Ireland Protocol and the Windsor Framework. These frameworks ensure that trade in goods from Northern Ireland to Great Britain and between Northern Ireland and the European Union largely continues without the changes experienced by trade between Great Britain and the EU following Brexit.
While Northern Ireland remains within the UK customs territory, EU customs regulations are applicable for trade with the EU. This results in the simplification of customs procedures for Northern Ireland businesses trading with the EU.
The absence of tariffs on goods in free circulation within Northern Ireland or the EU removes the need for complex origin documentation and the use of mechanisms like Returned Goods Relief for goods moving between these markets.
The continuation of EU intracommunity VAT rules simplifies VAT handling for cross-border transactions between Northern Ireland and EU member states.
Northern Ireland's commitment to aligning with relevant EU goods regulations ensures the continuity of its access to the EU Single Market. Simultaneously, the guarantee of unrestricted access for Northern Ireland goods to the UK internal market provides a significant benefit compared to the regulatory requirements faced by EU goods entering Great Britain.
How businesses benefit
Hear from Peter Curran, our Head of Dual Market Access and Stephen Kelly, Chief Executive, Manufacturing NI on how businesses in Northern Ireland are benefitting from dual market access.