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Irish Chamber

Economic power players to address the Irish Australian Business Awards

Monday, October 9, 2017

Ireland’s top three business heavy hitters are hoping to attract the attention of Irish Australian businesses at the annual Irish Australian Business Awards.

An Tánaiste and Minister for Business, Enterprise and Innovation, Frances Fitzgerald TD will deliver the keynote address at the Awards in Sydney on October 20th with the focus on strengthening economic ties between the countries.

The Irish economy is poised to make a paradigm shift, pivoting away from post-Brexit Britain and turning eastwards.

Australia is seen as a bridge into Asia for Ireland and Ireland can play the same role for Australian companies in Europe.

That will bring Irish investment and jobs into the Australian economy, at the same time as helping create greater wealth in Ireland.

“Building awareness internationally of the Irish capability in key sectors is critically important, particularly in light of Brexit. My Department is intensifying efforts on increasing the export market penetration and diversification of Irish companies into alternative markets, such as Australia,” said the Tanaiste.

Ireland’s position in the EU and the Eurozone in a post-Brexit world offers significant opportunities for Irish companies in Asia.

Julie Sinnamon, CEO, Enterprise Ireland will also attend the Awards.  “Expanding the Irish export footprint in markets beyond the UK is a key priority, in the context of the British exit from the European Union and the Asia Pac region delivered double-digit growth for Enterprise Ireland clients in 2016 with an impressive 16% year on year gain, making it the second fastest growing region for Enterprise Ireland backed companies in 2016,” said Ms Sinnamon.

Two of the world’s three largest economies are in the Asia-Pacific and the region is expected to make up 60 per cent of the world’s middle class in the next decade.

There are massive opportunities for Irish Australian companies in a post-Brexit world.

“Diversification is something companies will want to do and need to do. The focus has really come on to this area [Asia] in the past number of years but you see the investment going from zero to 20 per cent in a number of years,” she said.

Irish businesses and government officials are keen to seize the opportunities that Australia has to offer.

Martin Shanahan, CEO IDA Ireland will accompany the Tánaiste to the Awards. "We welcome the opportunity to raise Ireland’s profile in Australia. Building geographical diversity into IDA Ireland's portfolio is a key goal of our ‘Winning: Foreign Direct Investment 2015-2019’ strategy. Australia is one of the markets targeted to achieve this. IDA already has 23 client companies from Australia employing almost 1,000 people and we are seeing increasing interest from the Market.

This will be an opportunity to meet with clients in their own headquarters where we can deepen existing relationships and hopefully attract new business to Ireland," said Mr Shannahan.

The presence of these three economic power houses at the Awards offers a massive opportunity for Irish Australian businesses looking to expand into new markets.


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Irish Australian Business Awards