16th October 2017
Over 50 Enterprise Ireland clients taking part in a joint Enterprise Ireland and IDA Ireland trade and investment programme to Australia, as ambitious targets to double Irish exports to Australia are set
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
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.
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.
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 UK 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.
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, Cubic Telcom, Currency Fair, Akari Software, Combilift, Oneview and FEXCO are expected to announce new deals 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 consolidates 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. The Cubic Telecom deal with Telstra was valued at €20 million over four years.
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.
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 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 Ireland’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.
In addition, IDA Ireland will engage with target clients, key influencers, investors and business advisors at a number of business events to promote Ireland as the gateway to Europe for Australian companies.
ENDS For further information: Conor O’Donovan, Head of Communications, Enterprise Ireland 087-9671342, Marika MacCarvill, Press & Media Relations, Enterprise Ireland 01-7272857 / 086-171 2568
About Enterprise IrelandEnterprise 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
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