Minister for Trade and Development, Joe Costello TD, will promote trade and investment opportunities for Irish companies when he visits Mexico tomorrow. The Minister will meet with the Mayor of the City of Querétaro, an industrial hub in aeronautics, pharmaceutical and agri-business sectors and give the keynote address at a business networking event.
Speaking ahead of the trade and economic promotion element of his programme, which was organised by the Irish Embassy in Mexico, Minister Costello said:
“Mexico offers exciting opportunities for Irish companies and higher education institutions as Ireland moves forward with our dynamic, export-led growth. I am delighted to return to Mexico to build on the great progress in our relationship which was made during President Higgins visit last October. I am looking forward to meeting with representatives of Irish companies who are successfully exporting and doing business in Mexico and with Mexican companies which are trading with Ireland or are potential trading partners."
Minister Costello will tomorrow (Monday 14 April)) travel to the state of Querétaro, one of Mexico’s industrial hubs and home to a small cluster of successful Irish companies.
The Minister will visit the Kerry Group’s Regional Centre of Excellence for Latin America. Kerry Group employs over 700 people and has invested significantly in the Mexican, Central and South American markets in recent years.
Minister Costello will also meet with the manager of Bimeda Mexico to discuss opportunities for increased cooperation in the pharmaceutical sector between Mexico and Ireland. During the visit to Mexico by President Higgins in October 2013, Bimeda an Irish company in the veterinary pharmaceuticals sector, announced major expansion plans in Queretaro. Bimeda brands are currently growing by 20% in Mexico.
In a meeting with the Mayor of the City of Querétaro, Mr Roberto Loyola, Minister Costello will discuss Irish investment in the region and opportunities for further growth, as well as the prospects for increased Mexican investment in Ireland. They will also discuss the forthcoming Mexico-Ireland Business Conference that will take place in Dublin on 1-2 May, hosted by the Lord Mayor of Dublin and Dublin City Council, and supported by the Department of Foreign Affairs and Trade, the IDA and Enterprise Ireland, as well as the Mexican Government.
On Monday evening in Mexico City, Minister Costello will give the key note address at the 10th anniversary celebrations of BMT Global Consulting, Enterprise Ireland’s local partner in Mexico. At this event, he will have the opportunity to meet a number of Enterprise Ireland client companies active in the Mexican market and representatives of Mexican business and government.
On 15th and 16th April, Minister Costello will lead the Irish delegation at the major international conference on Global Partnership for Effective Development in Mexico City.
Note for Editors:
Minister Costello accompanied President Michael D. Higgins to Mexico during his official visit there in October 2013, which focused on boosting trade, investment and educational links between Mexico and Ireland.
Mexico was Ireland’s 17th largest export partner in 2013, and our largest trading partner in Latin America. Overall, Mexico and Ireland traded €1 billion in goods during 2013. Bilateral trade in services in 2012 was €63 million, the most recent year for which figures are available.
Mexico is one of the most open economies in the world, with a network of more than 44 Free Trade Agreements.
Key Irish companies which have invested in Mexico include Irelandia, Smurfit Kappa, the Kerry Group, Bimeda, H & K, Pertek-Erler, Tango Telecoms, Kentech and Randox Teoranta.
A wide range of Irish companies in the agribusiness, airline leasing, pharmaceutical and ICT services sectors export into the Mexican market.
The Lord Mayor of Dublin and Dublin City Council will host a Mexico-Ireland Business Conference in Dublin on 1-2 May, aimed at attracting Mexican Foreign Direct Investment to Ireland. Approximately 50 Mexican companies are expected to attend the conference in May, mainly in the pharmaceutical and biotech, ICT and software; and digital and creative media sectors. The Mexican Minister of Economy and the CEO of ProMexico (the Mexican Trade and Export Agency) will be key note speakers at the event, as will the Tánaiste and Minister for Foreign Affairs, Eamon Gilmore T.D. and the Minister for Trade and Development, Joe Costello T.D.
The first Ministerial-level High Level Meeting of the Global Partnership for Effective Development will take place in Mexico from 15 to 16 April 2014 and Minister Costello will lead the Irish delegation.