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Ireland warns of 'difficulties' negotiating post-Brexit trade deal

(c) Sky News 2017: <a href="http://news.sky.com/story/ireland-warns-of-difficulties-negotiating-post-brexit-trade-deal-10734565">Ireland warns of 'difficulties' negotiating post-Brexit trade deal</a>

Ireland (Other OTC: IRLD - news) 's finance minister has told Sky News there will be "lots of difficulties" when it comes to negotiating a post-Brexit trade deal with Britain.

Michael Noonan told Sky (Frankfurt: 893517 - news) 's Economics Editor Ed Conway the talks would be "lengthy and tough".

It comes as the Irish government's chief economist warned of around 40,000 job losses because of Brexit.

Mr Noonan was speaking at the World Economic Forum in Davos, Switzerland, where Prime Minister Theresa May told world leaders the UK was in talks with a number of countries over trade deals .

She (Munich: SOQ.MU - news) said Britain had already been in discussions with Australia, New Zealand and India, and added that China, Brazil and the Gulf States had also expressed an interested in striking deals.

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Earlier, Australia's finance minister has told Sky News he expects a free trade agreement to be done "very quickly".

Mathias Cromann said there had been "preliminary conversations" between the two countries and there was "goodwill on both sides".

Mrs May insisted in her speech that the Brexit vote was not about the UK looking inwards but was about building a "truly global Britain".

She said: "I want the UK to emerge from this period of change as a truly global Britain - the best friend and neighbour to our European partners, but a country that reaches beyond the borders of Europe too; a country that gets out into the world to build relationships with old friends and new allies alike.

"And that is exactly what we are going to do."

Mrs May said that Britain was a "hub for foreign investment" and cited Indian company Tata as the country's biggest manufacturer.

On a visit to Downing Street last week, New Zealand PM's said he hoped negotiations could start as soon as possible on reaching a "high quality" trade deal with the UK.

Bill English said the two nations were "natural partners" and would "continue to forge ties" after Britain's departure from the EU.

US President-elect Donald Trump has also promised a "quick" free trade deal with Britain.