Minister Breen leads Trade Visit to Madrid to support growing commercial relations between Ireland and Spain

2nd October 2019

Madrid
Minister Breen and Zartis CEO, Padraig Coffey

16 Enterprise Ireland-backed companies, with a focus on Fintech, Digital Technologies, Healthcare, Consumer and Construction participating in Ministerial led Trade Visit

Pat Breen TD, Minister for Trade, Employment, Business, EU Digital Single Market and Data Protection commences a one-day trade visit to Madrid today, Wednesday 2nd October, to promote Spain as a post-Brexit destination for Irish exports and highlight the quality of Irish products & services to Spanish companies. While on the trade visit to the Spanish capital, Minister Breen will lead an Enterprise Ireland client delegation in several business events which aim to engage and connect Enterprise Ireland supported companies with senior executives from some of Spain’s leading, and growing, companies.

Strong trade and investment links exist between Ireland and Spain; exports from Enterprise Ireland’s supported companies to Spain reached €338m in 2018. Today’s trade visit aims to connect Irish companies with further Eurozone opportunities and promote Ireland as a source of world class products and services across a range of sectors including, Fintech, Digital Technologies, Healthcare, Consumer and Construction services.

During the visit the Minister will also meet with his counterpart in the Spanish Ministry of Industry, Trade and Tourism, Minister of State for Trade, Ms. Xiana Margarida Mendez Bertolo, providing the opportunity to promote bilateral trade relations and discuss the implications of Brexit.

Speaking on the trade visit in Madrid, Minister Breen said; “I am delighted to lead this Enterprise Ireland trade visit to Spain. The country has long been a strong trading partner for Ireland. As the uncertainty continues surrounding Brexit, Eurozone markets such as Spain, therefore, have further become key markets for innovative Irish companies. The reasons for this are obvious, we share a common currency and are part of stable and strong economies. I wish the 16 participating companies every success in pursuing the opportunities that will arise and increasing their presence in the Spanish and wider Eurozone markets”.

During the trade visit, and in presence of Minister Breen and Her Excellency the Irish Ambassador to Spain, Ms. Síle Maguire, Enterprise Ireland supported company Fijowave signed a memorandum of understanding (MoU) with ElevenPaths, a global cybersecurity unit of the Telefónica Group, a leading integrated communications company, providing fixed and mobile services.

Fijowave is a Dublin-based company that specialises in the design, supply and marketing of advanced IoT solutions for Enterprise businesses throughout Europe. Speaking at the event Michael O’Keeffe, CEO Fijowave said, "We have been working with ElevenPaths for over a year and will soon be providing our IoT security solution, Fijoport, to a major customer in the energy sector”.

He also mentioned the major role played by the Enterprise Ireland office in Madrid in helping Fijowave connect with the right people in ElevenPaths, “Enterprise Ireland, from the outset, have been hugely influential in our success to date in Spain. Their people have worked together with us and must be given credit for today’s development”.

Anne Lanigan, Regional Director Eurozone, Enterprise Ireland said; “The Eurozone represents an ideal opportunity for Irish companies seeking to diversify into new markets. At 340 million strong, the Eurozone’s population is five times that of the UK, but remains a predominantly untapped market, accounting for only 20% of our exports. This represents a significant opportunity for Enterprise Ireland clients in a marketplace where Irish companies enjoy a reputation for innovation and flexibility. We’re delighted to have Minister Breen lead this trade visit to Madrid to further tap into these opportunities.”

ENDS

For further information contact;

Marika MacCarvill

International PR

Enterprise Ireland

Marika MacCarvill

+353 1 7272857

+353 86 171 2568