2.2 Trade and Investment: A snapshot of Irish virtual trade engagements in 2020

2.2 Trade and Investment: A snapshot of Irish virtual trade engagements in 2020

United Kingdom China Japan • Senior Department officials in Irish Embassy, London • Largest export market for Ireland in Asia-Pacific region • EU-Japan Economic Partnership Agreement, will • Supported by Enterprise Ireland offices in London and Manchester • Senior department official in Irish Embassy, Beijing see €1 billion in tariffs eliminated from EU Goods • Highlights emphasis on strengthening trade between Ireland and UK • Ireland’s Insurance Technology Advantage APAC Webinar: virtual event promoting Irish • 97% of trade tariffs will be eliminated, offering significant • New Brexit Readiness Checker launched by An Tánaiste technology innovation across General Insurance and Life Insurance sectors in Asia-Pacific opportunities for Irish exporters and importers • Japan is Ireland’s 3rd largest trade partner outside the EU • Brexit Customs Briefing Webinar series addressed by Minister Troy and 2nd largest partner in Asia • IDA Ireland has won over 90 Brexit related investments to date with jobs • The value of Ireland’s goods exports to Japan in 2020 creation potential of 6,000 was €2.7 billion, imports of goods from Japan were valued €1.24 billion Canada • 10th largest economy in the world, and Ireland’s 9th largest trade partner outside the EU Australia & New Zealand • There are over sixty Canadian IDA client companies, employing • Economic ties with Australia & New Zealand are 7,000 people in Ireland. IDA has a new office in Toronto Canada deepening, Enterprise Ireland over recent years has seen • Enterprise Ireland has offices in Toronto and Montreal their client sales increase by over 43% to the region • Value of Irish goods exports to Canada in 2020 was €1.7 billion • IDA Ireland has been represented in the Australia and New Zealand (ANZ) market for more than 30 years. There are now 70 Australian and New Zealand USA companies in Ireland employing 3,000 people • Ireland’s biggest trade partner and largest source of foreign direct • The EU’s next generation trade agreements which are investment being negotiated at present with both countries has the capacity to deepen further our mutual trade and • Senior Department official in Irish Embassy, Washington investment relationship. • IDA and Enterprise Ireland have strong presence across North America • IDA during the course of 2020 had numerous online events with US clients and virtual itineraries and trade events with US South Africa companies Germany • Africa’s largest and most advanced economy • Appointment of senior Department official to the newly • ‘PharmaConnect’– a knowledge sharing event established post of Counsellor for Trade, Investment for the Medtech and Pharma sectors. Enterprise Colombia and Innovation at the Irish Embassy, Berlin Ireland organised a showcasing of Irish key • First virtual trade seminar between the two countries hosted by • Enterprise Ireland has offices in Dusseldorf and Munich, technologies that provide cutting edge solutions Enterprise Ireland and the Irish Embassy in Bogota, co-chaired by and IDA’s Director Europe is based in Frankfurt to South African partners Minister Troy and his Colombian counterpart. The event had strong • Highlights importance of Europe’s largest economy to • IDA Ireland have established a pathfinder post to interest from Irish business with links to aviation, food technology, Irish Industry attract FDI from South Africa to Ireland renewable energy, financial services and education sectors • Continued focus on growing business with the Eurozone post-Brexit • Enterprise Ireland client exports to Germany increased Gulf States France Netherlands 16% to €1.3 billion out of total Irish goods exports to • Strengthening economic ties • With a combined goods trade of €14.5 billion in 2020, France is now, • Irish companies continue to deliver some of the Netherlands’ Germany of €17 billion in 2020 with this dynamic region due to Brexit, in geographic terms Ireland’s closet EU neighbour. Trade largest data centre and pharmaceutical projects • Enter the Eurozone Programme, delivered in partnership • RegTech Solutions - From Ireland links are strengthening with more Irish exporters taking advantage • EI companies export €1.4 billion to the Netherlands making it the with ESMT Berlin and IMS Galway, helping Irish to IMEA: virtual event hosted by of the significant ferry links between both countries allowing Irish largest Eurozone market for Enterprise Ireland clients, total Irish companies to prepare for more effective export wins Enterprise Ireland Africa and Middle exporters to avoid the UK land bridge and stay within the EU single goods exports to the Netherlands were €8.5 billion in 2020 in Europe East, in conjunction with Accenture market, reducing red tape and customs procedures.		China • Largest export market for Ireland in Asia-Pacific region • Senior department official in Irish Embassy, Beijing • Ireland’s Insurance Technology Advantage APAC Webinar: virtual event promoting Irish technology innovation across General Insurance and Life Insurance sectors in Asia-Pacific		Japan • EU-Japan Economic Partnership Agreement, will see €1 billion in tariffs eliminated from EU Goods • 97% of trade tariffs will be eliminated, offering significant opportunities for Irish exporters and importers • Japan is Ireland’s 3rd largest trade partner outside the EU and 2nd largest partner in Asia • The value of Ireland’s goods exports to Japan in 2020 was €2.7 billion, imports of goods from Japan were valued €1.24 billion
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			France • With a combined goods trade of €14.5 billion in 2020, France is now, due to Brexit, in geographic terms Ireland’s closet EU neighbour. Trade links are strengthening with more Irish exporters taking advantage of the significant ferry links between both countries allowing Irish exporters to avoid the UK land bridge and stay within the EU single market, reducing red tape and customs procedures.

Ministers supporting trade and investment with Ireland

Figure from page 19

Figure from page 19

Announcing the expansion of the Mastercard Tech Hub in Dublin in February 2020 – Tánaiste Leo Varadkar; Martin Shanahan, Chief Executive at IDA Ireland; Ed McLaughlin and Ken Moore Mastercard.

Minister Robert Troy and Columbian Minister for Commerce, Tourism and Industry, Mr Jose Manuel Restrepo attended a virtual high-level meeting of the Irish Columbian Business Network in November 2020. The event was organised by the Irish Embassy in Bogota with the objective of strengthening bilateral relationships between Ireland and Colombia. High-level representatives of many Irish businesses operating in Colombia, or seeking to enter the market, and the trade promotion agencies from Ireland (Enterprise Ireland) and Colombia attended.

Chapter 3

EU Free Trade Agreements