126 Irish exporters and 69 multinational companies participate on trade and investment mission in Ireland led by Minister Bruton
14th October 2015
2 days - 4 cities - 370 meetings
Trade Mission Ireland to open doors to Irish based multinationals
The Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, today (Wednesday 14th October 2015) begins a two-day Trade and Investment Mission to Dundalk, Waterford, Cork and Galway organised by Enterprise Ireland and IDA Ireland as part of a joint Global Sourcing initiative. The objective is to maximise sales opportunities for Irish companies with multinational companies based in Ireland, as well as large indigenous Irish companies.
The trade mission in Ireland is a new initiative first introduced last year: this year’s mission will build on the success of the first trade mission last year which covered the major cities in Ireland.
Over the course of the two days, more than 370 one-to-one meetings will take place between 126 indigenous Irish companies and 69 multinational companies. Panel discussions and networking events will take place at each venue, giving Irish companies the opportunity to engage directly with procurement teams from multinational companies across a wide range of sectors including ICT, Web 2.0, Pharma, Biotech, Medical Devices, Consumer, Security and Engineering.
This year, IDA will host a meeting desk at each venue to enable Irish companies discuss how their product or service offer can add value to an IDA sponsored company in Ireland.
To highlight the extent to which a number of multinational companies are already sourcing products and services from local Irish companies, site visits will take place to Boston Scientific in Galway, and Teva Pharmaceuticals in Waterford.
Speaking from Dundalk at the start of the mission Minister Bruton said: “The trade mission in Ireland is about one thing: Irish owned businesses generating more contacts, more sales and more jobs through their engagement with the multinationals based in Ireland. In my time as Minister, I have undertaken dozens of successful trade missions with Irish businesses to countries around the world, where we have opened doors for participating companies with large companies and Government organisations. The “Trade Mission in Ireland” initiative puts the same successful model to use here in Ireland where we have a thriving global multinational base. Over the course of the next two days, 370 one-to-one meetings will take place between Irish companies and multinationals based in Ireland as part of the Global Sourcing initiative being undertaken by Enterprise Ireland and IDA Ireland.
Julie Sinnamon, CEO Enterprise Ireland, who is accompanying Minister Bruton on the trade and investment mission added: “The objective of this trade mission is simple – we want to help Irish companies win more business from foreign-owned multinationals based in Ireland. By leveraging off the existing, strong relationships that IDA Ireland has with these MNCs, the mission will open doors for Irish companies and give them the opportunity to meet key decision makers and buyers. Most of the Irish companies participating on this mission already have a successful track record of supplying multinational companies across the globe. We are now pushing hard to increase the number of Irish suppliers to the MNC base in Ireland - helping Irish companies grow and create more jobs in Ireland”.
Martin Shanahan, CEO, IDA Ireland who is accompanying Minister Bruton on the trade and investment mission added: “IDA is pleased to be involved in this initiative, introducing our clients to Irish-based suppliers to explore what opportunities may exist for them to work together to generate additional business. Multinational companies deliver substantial economic benefits to Ireland in terms of direct employment, capital spend and developing Ireland’s skills base but we believe there is further benefit to be developed through initiatives such as this trade and investment mission”.
Notes to Editors
- With the support of Enterprise Ireland, Irish exporters achieved a record €18.6 billion in export sales and created over 19,705 new jobs in 2014. This resulted in a net increase of 8,476 in the number of people employed by Enterprise Ireland supported companies, the highest net gain in the history of the agency. This increase in employment reinforces Enterprise Ireland’s strategy of driving innovation, scale and leadership positions in international markets and new sectors.
- This continuation of employment growth clearly demonstrates the direct impact that increasing exports has on jobs in Ireland. Enterprise Ireland supported companies now, directly and indirectly, account for more than 300,000 jobs in the Irish economy - 16% of total workforce.
- The IDA, since the commencement of the global recession, has continued to be extremely successful in attracting key investment projects, many investing in Ireland for the first time. This shows that Ireland’s industrial development policy focused on the key pillars of talent, track record, technology and corporate tax continues to deliver a value proposition that resonates with investors. Today IDA clients employ over 166,000 persons, export €121bn and invest €1.3bn in R&D. Spend in the Irish economy is the focus of the Global Sourcing initiative.
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