From Department of Enterprise, Trade and Employment
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Over 100 business leaders and buyers from the Asia-Pacific (APAC) region will come together with over 200 Irish companies at the ‘Routes to Growth’ Asia Pacific Conference in the Aviva Stadium today. The first-of-its-kind event is jointly hosted by Enterprise Ireland and Cathay Pacific, and will be opened by Minister of State for Trade, Employment and Business, Pat Breen, TD. It represents a significant marker of the increasing focus in Ireland on exporting to the APAC region, as a key element of Enterprise Ireland’s market diversification strategy in response to Brexit.
Exports to the Asia-Pacific region from Ireland more than doubled in the last five years since breaking the €1bn mark in 2012, delivering double-digit growth for Enterprise Ireland clients in 2016 with an impressive 16% year on year gain. As the second fastest growing region for Enterprise Ireland backed companies, Enterprise Ireland is targeting to increase exports to the region by 50% by 2020.
The APAC region is home to half the world’s population and is forecast to host 64% of the global middle class by 2030. In addition, Ireland’s connectivity to the APAC region will see a significant boost in June 2018 with the commencement of the first direct flight between Dublin and Hong Kong launching on June 2nd by Cathay Pacific, the first ever direct flight from Ireland to the Asian mainland.
In tandem with the conference, Enterprise Ireland is also today launching a new series of ‘Going Global’ guides for Irish companies doing business in nine APAC countries including China, Singapore, Vietnam and India.
The Routes to Growth conference will offer key insights and perspectives from existing Irish exporters, and leading experts and senior decision makers from Asia Pacific on doing business in the region. There will also be targeted sessions on Aviation, Financial Services, Digital Technology, Healthcare, Construction and Agri-tech. The event will be jointly hosted by the CEO of Enterprise Ireland, Julie Sinnamon and General Manager Europe of Cathay Pacific, James Ginns, and will be moderated by Former CNN Correspondent, Gina London. Speakers will include Dicky Yip, Non-Exec Director PingAn Insurance and ex-CEO HSBC China, Jim Thompson, Chairman & CEO of Crown Worldwide Group Hong Kong. Among the Enterprise Ireland client companies exporting to the region who will be in attendance are Fenergo, Decawave and Cubic Telecom.
Minister of State for Trade, Employment and Business, Pat Breen, T.D. commented: “Ireland’s reach into new markets in the AsiaPAC region has grown substantially in recent years. We are strongly represented across the region, with state agencies, embassies and consulates now present in sixteen cities. Today’s Routes to Growth Conference could not be timelier, given the imperative, as a result of Brexit and other global developments, to expand our trading footprint and explore new international markets. The Irish Government and Enterprise Ireland offer a range of supports for companies looking to break into the AsiaPAC region. Today’s conference is an excellent opportunity to hear great Irish business success stories in the region and the learnings they can offer prospective exporters.”
Julie Sinnamon, CEO of Enterprise Ireland commented: “With Irish exports to the Asia-Pacific region more than doubling in recent years, and 600 Enterprise Ireland clients exporting to the region, Enterprise Ireland’s ambition is to increase exports by further 50% by 2020. Last year alone we had 70 new first-time exporters to the region. Expanding the reach of Irish exports in new and emerging markets is a key priority for Enterprise Ireland and is a central element of our market diversification strategy in response to Brexit. Today’s conference is an excellent chance for Irish exporters and potential exporters with global ambition to meet with prospective buyers and investors and senior business leaders from the AsiaPAC region to learn more about business opportunities in the region.
“We are also launching our ‘Going Global’ guides for a number of AsiaPAC countries, which provide essential advice to Irish companies on business, legal, administrative and cultural factors they should consider when exploring these markets.” added Julie Sinnamon.
James Ginns, General Manager Europe of Cathay Pacific, said: “Cathay Pacific’s new route will be Ireland’s first and only direct flight to Hong Kong. This will open up many opportunities not only for Chinese and Irish tourists interested in travelling abroad, but also Irish businesses looking to grow their business into the Asia Pacific markets. Promoting multi-lateral trade between Ireland, China and Asia is incredibly important for us at Cathay Pacific, and we are well placed to do this as we offer seamless passenger and freight connections to more than 80 cities across Asia-Pacific.
With China set to become Ireland’s 4th biggest export market by 2030, this new route has huge significance for Irish businesses that are already exporting to or hoping to export to China and Asia Pacific. Cathay Pacific currently offers Ireland the earliest possible arrival into Asia, meaning fresh Irish produce and temperature-sensitive pharmaceuticals will arrive on the same day at 7am in Hong Kong, to seamlessly connect and arrive at their final destination in China or Asia before noon. Of course, passengers also benefit from getting a full business day in Hong Kong or to connect beyond.
I look forward to launching the new route and giving everyone in Ireland a shorter, faster and premium link to Asia.”
Further conference information is available here
ENDS
Media contact details
Conor O’Donovan, Head of Communications, Enterprise Ireland
087-9671342 / conor.odonovan@enterprise-ireland.com
Marika MacCarvill, Press & PR, Enterprise Ireland
086 171 2568/ Marika.MacCarvill@enterprise-ireland.com
Cathay Pacific
Aoife Van Wolvelaere, Edelman – aoife.vanwolvelaere@edelman.com / 086 303 6161
Kate Wilkinson, Edelman – kate.wilkinson@edelman.com / 087 150 6095
Kawai Wong, Cathay Pacific – kawai_wong@cathaypacific.com / +44 208 834 8802
Note to Editors
Links to Enterprise Ireland’s Asia Pac Going Global Guides
The speakers at the Routes to Growth Conference will include:
The Routes to Growth Asia PAC conference will provide those in attendance with:
Enterprise Ireland’s network of APAC offices will be in attendance as well as experts on recruitment, immigration, market research and international mentorship.
About Cathay Pacific