Newry seminar focuses on euro

A seminar examining the business realities of operating in the euro zone takes place in Newry on Thursday. "Living with the euro - the Reality for Businesses in Northern Ireland" is the last in the series of free regional seminars organised by the Northern Ireland Euro Preparations Forum in association with local business groups.

Delegates will hear the views of speakers on accountancy, marketing and banking in the context of the euro. Local firms will discuss their own experiences and the preparations they made to function more efficiently within the euro zone. Around one-fifth of the North's exports go to euro-zone states, a statistic which illustrates the likely impact of the new currency on business in Northern Ireland.

The challenge to small and medium enterprises, especially those exporting to or importing from these countries, is significant, according to organisers who say the euro's introduction has led to increased competition in traditional markets. A recent survey conducted by the British Treasury showed more than half of UK firms have EU links. More than 60 per cent of those small and medium-sized business with EU connections said they had a euro strategy in place.

Mr Mike Maxwell, co-ordinator of the Northern Ireland Euro Preparations Forum, said the results reflected well on the Northern business sector. "However, notwithstanding the survey's encouraging findings, there is still work to be done particularly in vulnerable sectors such as retailing and hospitality," he said. For more information on the seminar, phone Belfast 90 664 020.