Enterprise Ireland targeting 50% growth in Irish exports to region by 2020

Enterprise Ireland targeting 50% growth in Irish exports to region by 2020
Cathay Pacific Cabin Crew Zoe and Rosanna, Julie Sinnamon, CEO of Enterprise Ireland, Minister of State for Trade, Employment and Business, Pat Breen, T.D. And James Ginns, General Manager Europe of Cathay Pacific. Iain White. Pic: Fennell Photography

A major conference today will see over 100 business leaders and buyers from the Asia-Pacific (APAC) region will come together with over 200 Irish companies.

The Routes to Growth event is taking place at the Aviva Stadium and represents a significant marker of the increasing focus in Ireland on exporting to the APAC region.

The first-of-its-kind event is jointly hosted by Enterprise Ireland and Cathay Pacific.

It 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.

The APAC region is home to half the world's population and is forecast to host 64% of the global middle class by 2030.

Exports to the region from Ireland have more than doubled in the last five years since breaking the €1bn mark in 2012.

As the fastest growing region for Enterprise Ireland backed companies, Enterprise Ireland is targeting to increase exports to the region by 50% by 2020.

Increasing focus on exporting to the APAC region is a key element of Enterprise Ireland's market diversification strategy in response to Brexit.

Ireland's connectivity to the APAC region will see a significant boost next month with the commencement of the first direct flight between Dublin and Hong Kong launching on June 2 by Cathay Pacific.

"Ireland’s reach into new markets in the AsiaPAC region has grown substantially in recent years," said Pat Breen, Minister of State for Trade, Employment and Business.

"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."

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