Monday 16th May 2022: Robert Troy TD, Minister for Trade Promotion, Digital and Company Regulation, will today commence a five-day trade and investment mission to the United States and Mexico covering South Carolina, Georgia, Monterrey and Mexico City. The trade mission, organised by Enterprise Ireland and IDA Ireland, aims to boost trade collaboration and support an accelerated export-led recovery of Irish businesses in international markets.
26 Irish companies will be taking part in the mission, representing a wide regional spread with participants based in Clare, Cork, Donegal, Dublin, Galway, Limerick, Monaghan, Tipperary and Westmeath.
During 2021, over 90 Enterprise Ireland client companies set up a new presence on the ground in the Americas, representing a broad range of sectors including digital technology, healthcare, agritech, cleantech and fintech. In 2020, Enterprise Ireland client exports to the US and Mexican markets combined reached almost €4.2bn. Over 165 Irish companies are active in the Mexican market, with exports of Irish goods and services to Mexico growing by 4% in 2020 to over €1.7 billion.
Over the five-day trade mission, Minister Troy will meet with senior executives from across the talent technology, fintech, advanced manufacturing and digital technology sectors, supporting the growth of 26 Enterprise Ireland client companies and reaffirming Ireland as an ideal location for American and Mexican companies to establish and grow.
Coinciding with the trade mission, a number of Irish business announcements will be made, including;
Software company Sitenna, who recently launched their platform in the US, this week announce a new office presence in Atlanta, Georgia to support their growth in the market.
Sitenna, headquartered in Limerick, provide software that helps telecom companies find and acquire new locations to install towers and antennae, particularly as telecom companies roll out 5G and IoT infrastructure.
Fintech company Trustap, based in Cork, will announce a new sales and distribution partnership in the US with Claz. Trustap is a digital transaction platform that protects you from being scammed when you're transacting with someone you don't know by securing the buyer's money in a safe hold account until all the transaction milestones are met and the complaints period elapses.
Intouch.com, the Dublin based retail technology company, is experiencing significant traction in the Mexican market. Their solution which enables retailers to offer personalised product recommendations to shoppers inside physical retail stores is now being used by a number of leading convenience store retailers throughout Mexico. Intouch.com expects Mexico to be its number 1 export market by the end of 2022 as it is currently closing a number of multi-million euro deals in the country and plans to open a Mexican office within the next 12 months.
Speaking ahead of the mission Minister Troy commented:
“I am delighted to lead the Enterprise Ireland and IDA Ireland trade mission to the USA and Mexico. This trade mission will focus on key growth opportunities and collaboration with both markets, supporting early entrants and established Irish companies to expand key business relationships. Ireland’s continued contribution to FDI to the United States, at almost $240 billion, highlights the depth of the economic ties we have with both countries. I look forward to meeting with a number of Irish companies bringing highly innovative products and solutions to their US and Mexican partners and stakeholders.”
He continued, "While the US has always been a key market for Irish companies, we are keenly aware that Mexico and the United States share a long and robust economic and cultural relationship. Our ambition is that of the almost 900 Irish companies that export to the US, and the over 600 that have invested in the US, that this mission will help highlight Mexico as a logical next step for some to develop their footprint in North America.”
While in Mexico, Minister Troy will connect with Mexican officials such as the Mayor of Monterrey, representatives from Mexico’s Foreign Trade Council COMCE and the Mexico City government. He will also meet with Irish business leaders from Fenergo, Daon, Stripe, AWP Engineering, Prodieco, Swoop Funding, and Smarter Surfaces. Events will include a Business Networking event, Irish-Mexican Chamber of Commerce event, a Fintech roundtable, and a Business Leaders in Mexico event.
Jenny Melia, Enterprise Ireland Technology and Services Divisional Manager said: “The economic impact of Irish companies on both sides of the Atlantic is significant; with Irish companies generating exports reaching almost €4.5 billion and employing over 110,000 people in North America.
The focus of this mission is to further develop these partnerships, whilst promoting Irish innovation in key growth markets such as Mexico. Building upon Enterprise Ireland’s in-market support for Irish companies growing their businesses in the Americas, this mission will deliver new opportunities in important, growing sectors including digital technology, talent technology and fintech.”
IDA Ireland’s Paul Veale, Territory Director, who will accompany the Minister to meetings with the companies of IDA Ireland’s existing and target clients in the US and Mexico said: “This trade & investment mission is a terrific opportunity to promote Ireland as a world class business location and very much open for business, despite the challenges experienced globally over the last two years. It’s also an opportunity to share the strong message that Ireland is a gateway to Europe and an excellent location choice for those investors considering establishing operations in Europe.”