Tánaiste Leads Trade and FDI Mission to North America

Canadian Trade Mission is Largest to Date

The Tánaiste and Minister for Enterprise, Trade and Employment, Ms. Mary Coughlan, T.D., today (Monday, 19 October 2009) commenced a week-long trade and foreign direct investment mission to North America, including Ireland’s largest ever trade mission to Canada. The mission will include stops in the Canadian cities of Edmonton, Toronto and Ottawa, and in the US city of New York. Some 35 Irish companies will participate on the Canadian leg of the mission from sectors including software, telecoms and financial services, with the aim of growing their exports to Canada and, through that, securing and growing jobs in their enterprises at home. In New York, where the Tánaiste will meet with various US multinationals, her principal focus will be on attracting new US investment and jobs to Ireland.

Commencing the mission the Tánaiste said: “The Canadian economy has shown strength and resilience during the worldwide recession and Canada is a market in which the business potential for Irish companies has not been fully realised.

“There is an excellent fit between Canadian needs and Irish goods and services. High-tech Irish companies such as those participating on this mission continue to pursue trade opportunities right across the business spectrum. This trade mission is taking place to support and endorse those companies in their efforts to expand in the Canadian market, to ensure they continue to grow and create valuable employment back home.”

The CEO of Enterprise Ireland, Mr. Frank Ryan, added: “More and more Irish companies are looking at Canada for potential export growth. On average we see ten Irish companies setting up business in Canada every year. Irish products have already received an outstanding reception in Canada in the areas of financial, software solutions, lifesciences and cleantech over recent years. We believe there is significant potential for further growth of Irish exports into this robust market place.”

Despite the global economic downturn of the last 18 months, trade between Ireland and Canada has increased. In 2008, bilateral trade totalled €0.76bn, while this year the Irish/Canadian relationship will exceed €0.84bn. More than 222 Irish-owned companies are now selling goods and services in Canada and 45 Irish companies operate 65 offices and facilities in Canada. Sales in the Canadian market by Irish-owned SMEs have trebled in the past five years and are set to reach €162m this year. This represents year-on-year growth of over 20% over this period.

In addition to a series of individual company meetings, the Tánaiste will attend a number of events in Canada for the Irish business community, including with the Irish Canada Chamber of Commerce. She will also meet with the Canadian Banking Advisory Group and the National Research Council of Canada.

The Tánaiste will also undertake a series of political meetings. In Ottawa, the capital of Canada, the Tánaiste will hold bi-lateral meetings with her Canadian counterparts, the Minister for Industry, Mr. Tony Clements, and the Minister for International Trade, Mr. Stockwell Day. In Edmonton, which is the capital of the Canadian Province of Alberta, the Tánaiste will meet with the Premier, Mr. Ed Stelmach. She is also scheduled to meet with its Minister for Advanced Education and Technology, Mr. Doug Horner, its Minister for International and Intergovernmental Relations, Mr. Len Webber, and its Deputy Agriculture Minister, Mr. John Knapp.

In New York, where the Tánaiste will meet with US companies in the financial, pharmaceutical and medical device sectors, the purpose of her visit is to encourage new investment and jobs to Ireland. The Tánaiste said: “The US remains the largest source for inward investment to Ireland. Continuing to secure new investments from innovative US companies is crucial, both to Ireland’s economic success and to the building of a smart economy.”

US companies currently employ in excess of 93,000 people in their operations in Ireland.

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For further information please contact:

Ciara O'Mahony, Press Officer, Enterprise Ireland: Tel: +353 (0) 1 727 2284 or

E-mail: ciara.omahony@enterprise-ireland.com

Roisin McCann, Press Officer, Department of Enterprise, Trade and Employment

Tel: +353 (0) 1 631 2200