The economic consequences of Brexit make it more urgent than ever to address issues of competitiveness, according to a report from the National Competitiveness Council.
The report warns that a range of threats to Ireland's ability to compete internationally could potentially damage growth prospects and living standards.
The council advises the Government on key issues facing the country and makes recommendations.
In its latest report, it acknowledges that the Irish economy has proven to be robust.
However, it points out that much of the improvements in competitiveness achieved in recent years were as a result of favourable external factors like exchange rates, low interest rates and low oil prices.
Ireland can no longer rely on these, it warns, saying competitiveness must now be a central pillar of economic policy.
The report points to Brexit as the biggest threat, specifically cost competitiveness issues caused by shifting exchange rates and uncertainty around trade.
That and other challenges should motivate the pursuit of lower costs across areas including energy, the legal sector and insurance, it argues.
Infrastructure bottlenecks like broadband deficits and skills mismatches must be addressed, it says, while industrial unrest is emerging as an immediate challenge.
