(30th April 2010) Copenhagen conference examines export success and challanges to recover

The Chartered Accountants Ulster Society ‘New Horizons’ Conference, sponsored by Northern Bank, is currently taking place in Copenhagen with over 100 of Northern Ireland’s Chartered Accountants and their guests.
 
Richard Gardiner, Chairman of Chartered Accountants Ulster Society, in opening the Conference said: “Our ‘New Horizons’ Conference is examining the financial crisis, prospects for recovery and the delicate balancing act that is currently taking place to prevent further financial collapse threatened by the economic weakness of some of our European neighbours. It is clear that while there are signs of recovery in our economy, there are still difficult challenges to be faced and difficult decisions ahead for both the UK Government and the Northern Ireland Executive after the election next week.”
 
Delegates in Copenhagen heard from Robert Watson OBE, Chief Executive of Hilton Food Group, Europe’s leading specialist meat packing group. Mr Watson detailed the group’s expansion into Denmark in partnership with the country’s largest supermarket retailer, Coop. Hilton Food Group are currently building a factory in Arhus in Denmark which is expected to be completed in April 2011, however, starting today the company is providing pre-packed meat products to Coop for sale in Denmark.
 
Next speaker Alastair Hall, Partner with Belfast architect firm Hackett Hall McKnight outlined the regeneration project that the firm was currently undertaking at the Vartov Square in Copenhagen which will create a small cherry tree orchard in the heart of the city. He also spoke about the challenge of winning and delivering major projects in Scandinavia from Belfast as well as his firm’s £13million project, the MAC Arts centre, currently under construction in Belfast city centre.
 
Continuing the day’s session at the Conference, Jeremy Fitch, Managing Director of Clients group and Business International with Invest NI, outlined the steps which the agency is taking to help Northern Ireland businesses in building export capability and some of the export success stories that local businesses are creating.
 
However, Northern Ireland’s Chartered Accountants and business leaders also heard that more tough decisions are ahead. Guest speaker and economic analyst Lars Christensen spoke about the impact of the financial crisis across Europe and expressed his view that the only effective response will be tighter fiscal control together with wage and spending cuts.
 
He said: “We have survived a crash but it will take time to fully recover. Every country across Europe is facing a massive adjustment and the most effective actions in the period ahead will be spending cuts and increased rates of taxation, combined with debt restructuring for those countries most at risk of bankruptcy.”
 
Mr Christensen went on to highlight the fact that Northern Ireland being outside the Euro Zone had cushioned the economy and provides opportunities for future export growth, however the relative size of the public sector and imminent spending cuts mean that there is still a difficult road to recovery.
 
Niall Harkin, Senior Corporate Banking Manager, Northern Bank said: “We’re proud to support the ‘New Horizons’ Conference and the business content over the last two days has been very significant in terms of how our local economy will progress. The Conference has examined the growing business links between Northern Ireland and Denmark and as our economy moves slowly towards recovery, it is important that the local business sector is aware of the opportunities for growth presented in overseas markets such as Denmark and in Scandinavia as a whole.”
 
Pictured at the conference in Copenhagen are (from left) Niall Harkin, Senior Corporate Banking Manager, Northern Bank; Lars Christensen, Chief Analyst, Danske Markets; and Richard Gardiner, Chairman, Chartered Accountants Ulster Society.
 
Ends
 
Reference:Garry Webb, Chartered Accountants Ulster Society,
phone 07841 152045 
                 
Note for Editors:
 
Chartered Accountants Ulster Society is a district society of Chartered Accountants Ireland, Ireland's largest and oldest professional body of accountants founded in 1888. The Society currently represents over 3,200 members in Northern Ireland.