Dáil Éireann Debate, Thursday - 12 October 2023
109. Deputy Bernard J. Durkan asked the Minister for Enterprise, Trade and Employment the extent to which new markets for Irish exports overseas are being sourced on an ongoing basis; and if he will make a statement on the matter. [44581/23]
View answerGlobal Ireland 2025 was launched in 2018 with the aim of doubling the scope and impact of Ireland’s global footprint in the period to 2025. This initiative has led to Enterprise Ireland expanding its office presence in overseas markets and to indigenous Irish industry growing its exports globally.
In parallel, the Trade & Investment Strategy for 2022 to 2026, Value for Ireland, Values for the World, sets out our principled and holistic approach to international trade policy and aims to expand Ireland's global trade links and enhance our competitiveness as a top location for business and talent.
Enterprise Ireland has expanded its global presence through the opening of eight new offices internationally in Munich, Lyon, Manchester, Copenhagen, Montreal, Seattle, Melbourne and Ho Chi Minh City. These offices are now embedded into the Enterprise Ireland overseas network; and will help to build new buyer relationships in markets where growth opportunities have been identified.
Enterprise Ireland also has a programme of trade missions, trade fairs and knowledge events that give clients the opportunity to connect with existing and new customers, access key decision makers, increase sales in international markets and exchange ideas.
Diversification has been a key focus of Enterprise Ireland’s work in recent years, and considerable progress is being made on the market and sectoral diversification of Irish-owned enterprises with exports of Irish companies increasing by 19% to a record €32.1 billion in 2022.
This is the highest ever level of growth for Enterprise Ireland-backed companies in export value. Growth occurred across all overseas regions and in individual industry sectors.
Exports to the Eurozone increased by 28% in 2022 reaching €7.9billion, with the Eurozone now representing 25% of all exports by Enterprise Ireland backed companies. Expansion in trade with the Eurozone has taken place in tandem with strong Irish exports to the UK post-Brexit.
Exports to the UK increased by 13%, reaching €9.2 billion. The UK now accounts for 29% of all exports by Enterprise Ireland backed companies.
Exports to North America increased by 13%, reaching €5.5 billion. North America now accounts for 17% of all exports by Enterprise Ireland backed companies.
Increases in exports were recorded across all sectors with Food and Sustainability increasing by 23%, Technology and Services increasing by 18% and Industrial and Life Sciences increasing by 14%.
Given its exclusive competence in the area of trade policy, the European Union has developed an ambitious trade and investment agenda including negotiating and concluding a large network of Free Trade Agreements (FTAs) and economic partnerships around the world. Currently the European Union has the largest trade network in the world, with over 40 individual agreements covering our trade relations with over 70 countries in regions across the globe. That network of agreements is being continuously strengthened, with several new agreements currently being actively negotiated; India, Australia and Thailand or recently finalised, including with New Zealand and Chile. I consider it fundamental to our growth and prosperity that we continue to champion the positive impacts of increased market access for Irish goods and services, and the EU’s ambitious suite of FTAs is integral to that objective.
