Irish companies secured €1bn in new export sales in 2006

Irish companies have secured €1bn worth of new export sales this year and gained strong positions in global markets.

In its end of year statement, their state support agency Enterprise Ireland is describing it as an excellent performance.

It has promising a relentless pursuit of new opportunities for its clients in international markets next year.

The growth has led to the creation of 1,200 more jobs in these homegrown firms.

Enterprise Ireland also convinced five global corporations to invest €9.5m in venture capital in Irish companies in 2006.

Research and development has become a priority too, with 550 indigenous firms investing more than €100,000 or more in that area - 40 others invested more than €1m.

In all, Enterprise Ireland approved grants of €113m during 2006, up by 40 million on last year.

It said 2007 presents a more challenging environment but the agency is confident it's three year targets will be met or surpassed by the end of next year.

Already, a major trade mission involving the Taoiseach and 117 companies is planned for the Gulf region in January.