Minister for Jobs Mary Mitchell O'Connor, Minister for Foreign Affairs & Trade Charlie Flanagan, CEO of Enterprise Ireland Julie Sinnamon pictured at launch of trade missions programme for 2016
The number of ministerial-led trade missions is set to double this year compared to 2015, with 26 planned for the second half of the year. In total, Enterprise Ireland will lead 68 events including inward buyer visits, market study visits, international trade fairs, Embassy events and knowledge seminars aimed at linking Irish companies with international buyers, to help them scale and increase exports. Saudia Arabia, India, China, USA, South Africa, Kenya, Denmark, Germany and Sweden are among the countries where events and trade missions are planned throughout the rest of 2016.
For Irish businesses, this means the opportunity to look at opportunities in new markets and to identify markets for diversification. Companies can also identify events, such as trade fairs, that are most suitable to assist them to achieve sales in their key markets. In terms of the ministerial-led trade missions, the presence of a Minister is critical for opening doors with potential customers to gain business for Irish companies. This is particularly the case in new and emerging markets. In addition to trade missions, Ministers will also be involved in international sales-leads events and trade fairs.
Some of the key sectors and markets targeted include:
- Lifesciences Trade Mission to the USA
- Financial Services Trade Mission to China
- Subcontractor Automotive Expo in Sweden
- ICT Water and Wastewater Trade Mission to the Gulf
- Software and Education Trade Mission to India
- Food Manufacturing in UAE and Iran
The expanded programme will draw from Enterprise Ireland’s international network, research and market intelligence, using key contacts from the Department of Jobs, Enterprise and Innovation, and the Embassy and Missions network from the Department of Foreign Affairs and Trade to help provide the greatest opportunity for Irish companies to grow their exports.
"This is the best way to dip your toe into international markets without huge financial commitment"
#allaboutjobs previously spoke to Garvan Quish of Device Smart about the benefits of trade missions. DeviceSmart is a software company that has developed an innovative platform that allows organisations connect to, monitor and control their infrastructure, buildings and systems. The company is considered a high-potential startup, which means that it has technology at its core and its main markets are overseas.
“The beauty of a trade mission is you get to meet lots of potential partners and customers in the one go – it’s like hitting multiple birds with one stone. Lots of tech companies try to save money doing calls online and video conferencing to save on the cost of a flight. Small companies want to meet customers; it would have to be a really good meeting to be worth the travel. On a trade mission, you are able to get as many meetings put together in a short period of time. You can’t beat face to face meetings, no matter how good the technology.”
“This is the best way to dip your toe into international markets without huge financial commitment. Enterprise Ireland’s overseas offices have Irish staff as well as local staff and they are invaluable as they have contacts in the market. Looking at markets, that should be the first step, as it’s easy and cost efficient. It’s a great starting point.”
Key commitment in Government's Action Plan for Jobs
Delivering an intensive programme of ministerial-led trade missions is a key commitment in the Government’s Action Plan for Jobs in supporting Irish companies from counties around Ireland to grow their businesses internationally to generate more exports and create jobs in Ireland.
About Enterprise Ireland
Enterprise Ireland is the Government agency responsible for helping Irish companies to export to international markets. In 2015, Enterprise Ireland companies increased exports by 10% compared with 2014, surpassing the €20bn mark for the first time. The export figure is now almost double what it was 10 years ago (€10.73bn in 2005). Significantly, export growth was recorded across all sectors and in the majority of export territories – in particular:
- exports to the USA and Canada increased by 27% to almost €3bn
- exports to Northern Europe increased by 8% to €4.2bn.
- exports to the UK increased by 12% to €7.5bn
Reflecting Enterprise Ireland’s strategy over recent years of supporting clients to diversify into new markets, exports to Eurozone countries have also almost doubled (increased by €1.92bn) from €2.21bn to €4.13bn over the same period.
For more information
Read the Enterprise Ireland International Trade Missions and Events Programme July-December 2016.
Thinking of exporting? Find out more about how Enterprise Ireland could help your business.