Joint Enterprise Ireland and IDA Ireland trade and investment programme to Australia sets ambitious targets to double Irish exports to Australia

16th October, 2017

Enterprise Ireland

Joint Enterprise Ireland and IDA Ireland trade and investment programme to Australia sets ambitious targets to double Irish exports to Australia

  • 14 Enterprise Ireland clients to announce new deals and achievements in the Australian market during the trade and investment programme with Australian partners Qantas, Telstra, the University of Sydney, Sydney Children’s Hospital, Civmec and Bunnings
  • IDA Ireland expects to announce client company investments on foot of the programme

Fifty-five Enterprise Ireland clients are taking part in a joint Enterprise Ireland and IDA Ireland trade and investment programme to Australia this week. This is the largest programme of trade activity that Enterprise Ireland has undertaken for this region, and is reflective of the opportunities for innovative Irish companies in the Australian market.

Over 300 Enterprise Ireland backed companies exporting to Australia, achieved exports of €256 million to Australia in 2016, a record high and a rise of 14% on 2015. In the context of the British exit from the European Union, expanding the Irish export footprint in markets beyond the UK is a key priority for Enterprise Ireland and ambitious targets to double Irish exports to Australia by 2020 have been set.

IDA Ireland will engage with target clients, key influencers, investors, business advisors and media at a number of business events to promote Ireland as the gateway to Europe for Australian companies.

IDA Ireland is seeking to attract quality investments from globalising Australian companies looking to access the EMEA market. IDA Ireland targets sectors with the highest potential for delivery and fit with Ireland’s value proposition, building relationships with the top and emerging players in the key sectors of Technology, Business and Financial Services and Life Sciences.

The trade and investment programme has been organised in the context of the President of Ireland Michael D Higgin’s State Visit to Australia. An Tánaiste and Minister for Business, Enterprise and Innovation, Frances Fitzgerald TD will accompany the President for the programme of activity in support of the work of Enterprise Ireland and IDA Ireland in Australia.

An Tánaiste and Minister for Business, Enterprise and Innovation, Frances Fitzgerald TD said “I am delighted to accompany President Michael D. Higgins on the State Visit to Australia and engage in an extensive programme of activity which focuses on supporting Irish companies to expand exports into this significant market. Building awareness internationally of the Irish capability in key sectors is critically important, particularly in light of Brexit. I am working closely with the agencies in my Department who have intensified their efforts on increasing the export market penetration and diversification of Irish companies into alternative markets, such as Australia. I look forward to engaging with key decision makers at the highest levels in Government and Industry to promote Ireland as a source of world-class products and services.”

The Enterprise Ireland client companies participating on the trade and investment programme, span 9 sectors including, Digital Technologies, FinTech, Healthcare, Construction, Engineering and Consumer Products. Of the 55 Irish companies participating, 27 do not yet export to the Australian market and 16 are heavily exposed to Brexit.

Over the course of the trade and investment programme, 14 Enterprise Ireland clients including Portwest, CurrencyFair, Akari Software, Combilift, Oneview and FEXCO are expected to announce new partnerships and achievements in the Australian market with Australian partners such as Qantas, Telstra, the University of Sydney, Sydney Children’s Hospital, Civmec and Bunnings. Four Enterprise Ireland companies will also announce office openings in Australia.

This week, Enterprise Ireland client Portwest, the leading safety clothing and personal protective equipment (PPE) manufacturers headquartered in Westport, announced their second acquisition of an Australian workwear company. This follows their acquisition of Prime Mover Workwear earlier this year. This move will double Portwest’s turnover in Australia to over €20m per annum and consolidate their position as the fastest growing workwear company in the world.

Enterprise Ireland clients Cubic Telecom, a leader in global connectivity solutions for the automotive industry and Brighflag, the legal spend management software company also signed contracts with Telstra Wholesale, Australia’s leading wholesaler of telecommunications and network services.

During the trade and investment programme, Enterprise Ireland clients will attend 170 prearranged meetings with Australian buyers and 11 Enterprise Ireland events with over 500 guests attending.

Julie Sinnamon, CEO, Enterprise Ireland said “In the context of Brexit, expanding the Irish export footprint in markets beyond the UK is a key priority for Enterprise Ireland. The Asia Pacific region was the second fastest growing region for Enterprise Ireland backed companies in 2016 delivering double digit growth of 16% in 2016 and the Australian market delivered 14% growth in exports for Enterprise Ireland clients in 2016.

The acquisition announcement made by the Enterprise Ireland backed company Portwest and the deal announcements by Cubic Telecom and Brightflag is testament to the success that ambitious and innovative companies can achieve in successfully entering and scaling new markets.

The trade and investment programme, organised in the context of the President's State Visit to Australia is the largest that we have undertaken in the region to date and sets out to build on the strong foothold of Irish companies in the Australian market and to support in achieving our ambitious targets to double Irish exports to Australia by 2020.”

President Michael D Higgins and the Tánaiste will meet with high level executives in a number of IDA's existing client companies and potential investors in Ireland. The visit will assist IDA Ireland in strengthening its relationships with key senior executives in these companies.

Martin Shanahan, CEO of IDA Ireland said: “These trade missions represent invaluable opportunities to highlight the Ireland offering by directly engaging with potential clients while simultaneously enhancing existing relationships.

There are 22 Australian companies with approximately 1000 employees exporting from Ireland and a further 34 Australian companies servicing the Irish market. IDA will use the mission to deepen relationships and target new client companies.

Trade missions are instrumental in developing new and existing markets overseas for Irish businesses. Given the recent Brexit vote and the value of exports to our economy, this objective is more pressing than ever before.

Ireland is one of the best places in the world to do business. We know that because international surveys consistently place us in the top half dozen locations and, more importantly because the companies that have invested here have told us so.

Ireland is very proud of the strong ties it has with Australia, and IDA Ireland has had a presence in Australia for almost 30 years. The shared values and cultural synergy position Ireland as the ideal solution for Australian companies looking to access the European market in a post Brexit era.”

ENDS

About Enterprise Ireland
Enterprise Ireland is the Irish State agency that works with Irish enterprises to help them start, grow, innovate and win export sales in global markets. Enterprise Ireland partners with entrepreneurs, Irish businesses, and the research and investment communities to develop Ireland’s international trade, innovation, leadership and competitiveness. In this way, we support sustainable economic growth and regional development, and help create and sustain employment in Ireland. www.enterprise-ireland.com

About IDA Ireland
Ireland's inward investment promotion agency, IDA Ireland, is a non-commercial, semi-state body promoting Foreign Direct Investment into Ireland. We partner with potential and existing investors to help them establish or expand their operations in Ireland. www.idaireland.com

 

For further information, please contact:

Conor O'Donovan

Head of Communications

Enterprise Ireland

Conor O'Donovan

087 967 1342

Marika MacCarvill

Press & Media Relations

Enterprise Ireland

Marika MacCarvill

01 727 2857

086 171 2568

Céline Crawford

Press & PR Manager

IDA Ireland

087 114 7899