Enterprise Ireland and IDA kick off national trade and investment mission

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Benbulben, Sligo. Sligo is one of three counties participating in the Global Sourcing mission. Image: Niall Flynn/Shutterstock

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IDA Ireland and Enterprise Ireland team up for annual Global Sourcing mission.

Three Government ministers begin a two-day trade and investment mission to Dublin, Limerick and Sligo today (16 May): Minister for Business, Enterprise and Innovation Heather Humphreys, TD; Minister of State for Trade, Employment, Business, EU Digital Single Market and Data Protection, Pat Breen, TD; and Minister of State at the Department of Finance and the Department of Public Expenditure and Reform with special responsibility for Public Procurement, Open Government and eGovernment Patrick O’Donovan, TD.

The annual mission is part of a joint Enterprise Ireland and IDA Ireland Global Sourcing initiative, which aims to create business opportunities for Irish-owned companies with multinationals (MNCs) based in Ireland.

More than 455 pre-arranged one-to-one meetings are scheduled to take place between 194 Enterprise Ireland clients and 111 IDA Ireland companies over the course of the two days.

The mission provides MNCs with direct access to potential suppliers, as well as raising awareness of the innovative capabilities of Irish SMEs across a range of sectors. These meetings are also invaluable to Irish companies seeking credible access to procurement teams in global MNCs.

Humphreys said: “This year’s Global Sourcing trade and investment mission in Ireland will once again provide direct networking opportunities between many of the world’s leading MNCs based here in Ireland and the Irish-owned supplier base.

“While highlighting the relationships that have grown over many decades, the mission also aims to create new partnerships between MNCs and Irish companies through the regionally focused networking events today and tomorrow in Dublin, Limerick and Sligo, in line with the Government’s Action Plan for Jobs strategy.

“We have great opportunities on our doorstep and we want to maximise these to help Irish companies scale and further reinforce their successful track records of servicing international buyers all over the globe.”

Mutually beneficial situation

Breen added: “Ireland’s success in attracting MNCs, together with developing export-focused Irish-owned business, is internationally recognised. The Government’s focus is on maximising the level of trade between both these groups through the work of Enterprise Ireland and IDA Ireland.

“This is a mutually beneficial situation where Irish companies develop new business leads and MNCs gain access to high-quality and more secure sources of supply.”

Ireland as a world-class business location

O’Donovan said: “Ireland is a world-class location for MNCs and has resulted in a thriving multinational base, which is supported by regionally based companies who are well positioned to service these companies.

Enterprise Ireland’s Global Sourcing initiative is key to generating contract wins, which ultimately result in growing employment in regional locations around the country and potential business opportunities for Irish companies overseas.”

Kevin Sherry, executive director of global business development at Enterprise Ireland, said: “A key element of Enterprise Ireland’s 2017-2020 strategy is to help Irish companies scale and expand globally. Enterprise Ireland’s dedicated Global Sourcing team works closely with client companies seeking opportunities with MNCs based in Ireland.

“The Global Sourcing initiative is particularly important in providing a route-to-market for Irish companies with global ambition. Partnerships with a locally based MNC provide an important platform to also partner with MNCs in other international markets outside of Ireland.”

Martin Shanahan, CEO of IDA Ireland, said: “This collaboration between IDA Ireland and Enterprise Ireland is focused on bolstering the links between indigenous Irish companies and multinational companies.

“This investment mission provides multinational companies with direct access to potential suppliers and promotes greater engagement between the two groups. Closer relationships through enhanced integration will bring huge benefits to local economies across the country and ultimately promote Ireland as a welcoming pro-business destination.”

Ellen Tannam is a writer covering all manner of business and tech subjects

editorial@siliconrepublic.com