The Tánaiste and Minister for Foreign Affairs and Trade, Eamon Gilmore, TD, will this evening address an Enterprise Ireland business event for Irish High-Potential Start-Up companies and invited British businesses at the Embassy of Ireland in London.
The Tánaiste is representing the Irish Government throughout President Higgins' State visit to the UK this week.
Speaking ahead of the event, which is taking place at the Irish embassy in London, the Tánaiste said:
“This State visit is an opportunity to reflect on the strength and depth of our relationship with our closest neighbour, including the importance of our economic partnership.
The UK is our most important export market, with trade of over €1 billion worth of goods and services every week, and 200,000 people employed in Ireland as a result of exports to the UK. This visit will help to forge even closer economic links which support jobs on both sides of the Irish Sea.”
The Enterprise Ireland inaugural “Ones to Watch” event is designed to support Irish High Potential Start-Up (HPSU) companies to accelerate their sales and consolidate relationships in the UK market. The event, will be attended by 40 Enterprise Ireland clients, their customers and potential customers, market experts and potential investors in Irish start-up companies.
The Tánaiste will take the opportunity to promote Ireland as a source of innovation and cutting edge technologies:
"Global exports from Ireland are now back at a higher level than before the economic crisis. The UK is the largest market for the products and services exported by Irish small and medium enterprises. This business alone was worth €6.2 billion in 2012 and we expect that figure to rise this year. The number of Irish start-ups entering the UK market has doubled over the last four years. We are such close neighbours and trading partners but with the quality of our companies, the potential for growth is still enormous.”
Earlier today, the Tánaiste met Foreign Secretary William Hague during which they discussed the situation in Ukraine and ongoing negotiations regarding a Transatlantic Trade and Investment Partnership with the US. The Tánaiste then joined the President for a meeting with Prime Minister David Cameron at 10 Downing Street.
In the coming days, the Tánaiste will accompany President Higgins at a Northern Ireland-themed reception hosted by the Queen in Windsor Castle, the ‘Céiliúradh’ at Royal Albert Hall and several engagements outside London, including a reception for members of the Irish community at Coventry’s Guildhall.
ENDS
Press Office
9 April 2014
Notes to Editor
Enterprise Ireland Seminar for High Potential Start Up Companies – ‘Ones to Watch’ – 5pm, Wednesday 9th April
Media wishing to cover this event, should make their own way to the Embassy of Ireland, 17 Grosvenor Place, SW1X 7HR for 5pm. Expressions of interest in attending this should contact Fionnuala.Quinlan@dfa.ie. The Tánaiste will address guests at 5.25pm. There will be interview opportunities with the Tánaiste (immediately after address to guests), CEO of Enterprise Ireland Ms Julie Sinnamon and with representatives of Irish companies present. The event concludes at 6.30pm.
Key Economic Statistics
• Irish companies employ approx. 100,000 people in the UK. A similar number are employed by UK companies in Ireland.
• About twice that figure- 200,000 people- are employed in each country working on the export trade which takes place between us.
• There are more than 50 Irish companies listed on the London Stock Exchange - more than from any other overseas country.
• Between 2003 and 2012, Irish companies invested £40.90bn in capital expenditure in the UK.
More trade details available here