MOSCOW (Sputnik) — Earlier in the year, the UK pound tumbled to its lowest value since the 1980s as a result of the June 23 Brexit referendum as fears of post-Brexit economic problems abounded. The currency fell from almost $1.5 per pound to around $1.3 per pound and fell further to around $1.2 per pound last month as Prime Minister Theresa May's government chose the "hard Brexit" path making EU single market access less likely.
"The biggest trade issue of the moment is over the currency exchange, where 60 percent of our exports go to Great Britain, because of the currency exchange it is much more expensive to export there," Carr said on the sidelines of the ENES 2016 forum in Moscow.
He added that nevertheless Ireland would continue trade with the United Kingdom, as it has done "for hundreds of years" even after Brexit.
However, Ireland is keen on trying to open its borders to other parts of the world, including Russia, the Lord Mayor said.