The business network’s Signposts for Services document is proposed to be considered by negotiators when entering talks on the future trading relationship between the EU and UK in early 2020.

The BICC has warned that the services sector is being overlooked with a high risk of new regulatory barriers being imposed after Brexit due to the gap in benefits between a traditional Free Trade Agreement and the EU Single Market for services.

The document was developed following extensive consultation with BICC members and external trade experts.

John McGrane, director-general of the British Irish Chamber of Commerce, said: “This major work by the Chamber highlights a number of Signposts to be followed by UK and EU negotiators to ensure that services are not left behind as we look to define the future trading relationship between the EU and UK.

“Both parties have spoken of their desire to agree an ambitious and comprehensive deal on trade and investment in services and this paper offers a roadmap to achieve that vision.

“However, getting the right deal is far more important than getting a quick deal. We urge negotiators to take the necessary time to work towards the delivery of a wide-ranging deal on services, complete with market access beyond what has been achieved by other trade deals to date.”