The Minister for Trade and Development, Joe Costello TD, will tomorrow morning launch the Irish Exporters Association’s Latin America Trade Forum to support Irish companies.
The Latin America Trade Forum, based at the offices of the Irish Exporters Association, will be a resource to Irish businesses interested in developing trade with Latin America.
Speaking ahead of the launch at the Department of Foreign Affairs and Trade, Minister Costello said:
“Latin America offers exciting opportunities for Irish companies as we move forward with our export-driven growth. We already have significant interests there, with total trade in goods in 2013 worth €2.4 billion, and I am confident that the launch of the Latin America Trade Forum will provide further support to Irish businesses that have an interest in pursuing opportunities in this dynamic part of the world.”
“I had the great honour of accompanying President Higgins on his visits to the region in 2012 and again in 2013 and I have seen that Irish firms and third level institutions are establishing strong and successful relationships there. In Mexico and Brazil, for example, I witnessed many agreements being signed by Irish interests with their Latin American partners, and met with many Irish business people that are enthusiastic about the opportunities offered in these markets.”
The Latin America Trade Forum will bring together Irish companies, industry organizations, State Agencies as well as the Department of Foreign Affairs and Trade to foster trade, economic and commercial relations between Ireland and Latin America.
Minister Costello added:
“The Government’s recent decision to open a Consulate General of Ireland in Sao Paulo, Brazil’s business and industry centre, reflects the value of the work of our diplomatic network in building trade and economic relationships in key emerging markets. I know that our trading and other relations with the countries of Latin America will continue to go from strength to strength.”
ENDS
Press Office
9 April 2014
Note for Editors:
• The Latin America Trade Forum (LATF) is an initiative of the Irish Exporters Association and is supported by Arthur Cox, Digicel Group, Fexco, Fyffes, KPMG, and World Courier.
• The Department of Foreign Affairs and Trade will work closely with the LATF in the promotion of links with the Latin American region.
• The Latin America and Caribbean region – with 33 countries, a GDP of five and a half trillion dollars and a combined market of some 600 million people – is a strongly developing, increasingly prosperous and stable region.
• Almost all of the economies of the Latin America and Caribbean region have returned to positive growth, with two thirds of them growing at rates above 3% between 2010 and 2012. Economic growth in the region was about 3% in 2013 with a similar level expected in 2014.
• The region has a network of bilateral and bi-regional trade agreements. It is also a region that is attracting strong foreign direct investment.
• Ireland already has significant economic interests in Latin America. Our merchandise exports to the region in 2013 reached €1.3 billion. Total trade in goods in 2013 amounted to €2.4 billion.
• Our top five trading partners in the region are: Mexico, Brazil, Argentina, Colombia and Chile.
• President Higgins, accompanied by the Minister for Trade and Development, Joe Costello TD, made very successful visits to Chile, Brazil and Argentina in 2012 and to Mexico, El Salvador and Costa Rica in 2013. The enhancement of trade links featured prominently in these visits.