5 Ways Ireland’s Arbitration Amendment Act Could Unlock a New Era for Irish Importers and Exporters

Ireland has just taken an important step toward deeper, more predictable international trade.

On 17 June 2026, the Government announced that the Arbitration (Amendment) Act 2026 had been signed into law. Its immediate purpose is technical but significant: it creates a new legal procedure to enforce international investment tribunal awards in Ireland, addressing issues raised in the Supreme Court’s Costello judgments. Most importantly for business, it clears a major obstacle to Ireland’s ratification of the EU-Canada Comprehensive Economic and Trade Agreement, better known as CETA, and other modern EU trade agreements with similar investment dispute resolution provisions, including agreements with Chile, Mexico, Singapore and Vietnam.

That may sound like legal machinery. But for Irish importers and exporters, it is much more than that.

It is a signal that Ireland intends to remain open, ambitious and serious about rules-based international trade at a time when many countries are becoming more protectionist.

As Minister for Foreign Affairs and Trade Helen McEntee put it, “stable and predictable trading relationships support jobs, investment and economic growth.” Minister of State Thomas Byrne was even more direct, saying the Act will enable “more trade, more jobs, and more stability for Ireland.” Both comments were included in the Government’s official announcement of the Act. Source: Government of Ireland

For Irish businesses, the message is clear: international trade is no longer an optional growth strategy. It is becoming a national imperative.

Here are the five biggest impacts.

1. It strengthens Ireland’s commitment to rules-based trade

The most immediate impact is reputational.

By enabling Ireland to move forward with CETA ratification, the Act tells trading partners, investors and customers that Ireland remains committed to open, predictable and legally grounded trade relationships.

That matters because global trade is becoming more uncertain. The WTO’s March 2026 global trade outlook warns that merchandise trade growth is slowing, while services trade remains more resilient. The WTO also notes that AI-related demand could create upside for trade, but geopolitical conflict and energy shocks remain serious risks. Source: WTO Global Trade Outlook 2026

For Irish businesses, certainty is a competitive advantage. If a buyer in Canada, Singapore or Vietnam is choosing between suppliers, they will naturally favour counterparties operating from jurisdictions with strong legal frameworks and trusted trade relationships.

In practical terms, the Act helps Ireland show that it is not sitting on the sidelines. It is aligning itself with countries that want trade to be governed by rules rather than guesswork.

2. It opens the door to deeper Canada-Ireland trade

CETA has already been provisionally applied since 2017, and the results are significant.

According to the European Commission’s Ireland trade page, bilateral trade in goods and services between Ireland and Canada has grown by 240%, from €3.4 billion to more than €11.85 billion in 2024. Ireland is now Canada’s 15th largest trading partner, and Canadian foreign direct investment in Ireland is up 131% since 2016. Source: European Commission Representation in Ireland

The Government’s own announcement goes further, stating that Ireland-Canada trade grew from €3.2 billion in 2016 to more than €12 billion in 2024.

That is not theoretical opportunity. That is momentum.

For Irish exporters, Canada offers a sophisticated, high-income, English-speaking market with strong demand for quality products and services. For Irish importers, Canada can be an attractive source of technology, food, raw materials, professional services and supply-chain alternatives.

CETA also helps reduce or eliminate tariffs for EU businesses exporting to Canada, with the European Commission advising companies to register to take full advantage of reduced or zero Canadian customs tariffs. Source: European Commission CETA business information

The opportunity now is for more Irish companies to move from awareness to action.

3. It gives SMEs more reason to look beyond familiar markets

One of the biggest misconceptions about international trade is that it is mainly for large companies.

The data says otherwise.

The European Commission’s 2025 evaluation of CETA found that small and medium-sized enterprises have particularly benefited, with the number of EU SMEs exporting to Canada growing by 20.3%, faster than larger companies at 13.8%. Source: European Commission CETA evaluation

That should matter to every ambitious Irish business.

Ireland already punches above its weight in trade. CSO data shows that Ireland’s goods exports were valued at €223.7 billion in 2024, while imports were valued at €134.7 billion. Chemicals dominate the export base, but machinery, food, beverages and manufactured goods also play major roles. Source: CSO Ireland’s Trade in Goods 2024

The challenge is that many smaller businesses still see exporting as intimidating. They worry about customs, documentation, Incoterms, logistics, payment risk and unfamiliar buyers.

Those concerns are real. But they are no longer good enough reasons to stay domestic.

Enterprise Ireland is actively supporting companies to expand internationally, offering market access supports, trade missions, buyer visits and market advisors across 40 offices in 30 countries. Source: Enterprise Ireland Market Access

The infrastructure is there. The trade agreements are advancing. The markets are open. Irish SMEs need to decide whether they want to participate.

4. It supports diversification at exactly the right time

Many Irish businesses still depend heavily on familiar markets, especially the UK, EU and US. That is understandable. But it is also risky.

Tariffs, geopolitical conflict, supply-chain disruption, energy volatility and changing regulation are forcing businesses everywhere to rethink where they buy, where they sell and who they rely on.

UN Trade and Development has identified rising tariffs, supply-chain shifts, digital transition and geopolitical fragmentation as defining themes shaping global trade in 2026. Source: UNCTAD Global Trade Trends 2026

This creates urgency for Irish companies.

Diversification is no longer just a boardroom slogan. It is a practical growth and resilience strategy. More markets mean more potential buyers. More suppliers mean less dependency. More trade relationships mean more options when one route becomes expensive, delayed or politically difficult.

The Arbitration Amendment Act matters because it helps Ireland participate more fully in a new generation of EU trade agreements. Canada is the immediate focus, but the Government has also referenced agreements with Chile, Mexico, Singapore and Vietnam.

For Irish businesses, that means more than export headlines. It means new routes to growth.

5. It raises the bar for trade readiness

The final impact may be the most important.

Better trade agreements do not automatically create successful importers and exporters.

Businesses still need to execute.

They need to understand the buyer-seller relationship, choose the right Incoterm, agree responsibilities, manage documents, track deadlines, reduce errors and maintain clear records. They also need to make international trade feel professional and manageable for the other party.

This is where many businesses fall down.

A company may have a great product and a willing overseas buyer, but if the process becomes confusing, slow or document-heavy, the opportunity can disappear. International trade is full of friction: invoices, packing lists, transport documents, insurance certificates, customs data, payment terms and compliance obligations.

That is why digital trade is becoming so important.

The International Chamber of Commerce notes that UNCITRAL’s Model Law on

Electronic Transferable Records is designed to help electronic trade records be used and trusted like paper documents, improving efficiency, reducing costs and strengthening security and traceability. Source: ICC Academy on MLETR

The legal and commercial direction is clear: trade is becoming more digital, more structured and more rules-based.

Irish businesses that still rely on disconnected emails, spreadsheets and shared folders may find themselves increasingly out of step with how modern trade is evolving.

The opportunity is now

Ireland is a small, open economy. We do not grow by looking inward. We grow by building trusted relationships with the world.

The Arbitration Amendment Act is not just a legal update. It is part of a bigger story: Ireland positioning itself for a new phase of international trade.

The opportunity for Irish businesses is significant. But it will favour companies that are ready to act, not those that wait until the path is perfectly clear.

Markets are changing. Trade agreements are moving. Supply chains are shifting. Buyers are searching for alternatives. Digital trade is accelerating.

Now is the time for Irish importers and exporters to become more ambitious.

How iTradeDigital helps Irish businesses seize the opportunity

iTradeDigital is being built for exactly this moment.

We help Irish businesses, whether experienced traders or first-time importers and exporters, manage international trade with greater confidence, structure and visibility.

Instead of relying on scattered emails, spreadsheets and disconnected documents, iTradeDigital guides buyers and sellers through the key steps of a trade transaction. The platform helps businesses clarify trade terms, select appropriate Incoterms, understand required documentation, organise shared workflows and keep better control from agreement to completion.

For existing importers and exporters, that means a more efficient and professional way to manage repeat trade.

For businesses new to international trade, it means the confidence to explore new markets without feeling overwhelmed by complexity.

Ireland has just taken another step toward deeper global trade. iTradeDigital helps Irish businesses take the next one.