Minister Costello leads Enterprise Ireland Trade Mission to Turkey
25 Irish Companies look to grow their business in Turkey
The Minister for Trade and Development, Joe Costello T.D., is leading an Enterprise Ireland trade mission of 25 companies to Turkey to boost trade between the two counties. The visit, which starts tomorrow, is being organised in cooperation with the Irish Embassy in Turkey.
The participating companies are drawn from a wide range of sectors with particular growth potential in Turkey such as Financial Services, IT for Travel, Education, ICT & Telecoms and Medical Technologies.
During his visit the Minister will also hold discussions with key Turkish government ministers and senior officials on trade and economic cooperation. Announcing the mission, Minister Costello said: “Turkeyis one of Europe’s largest economies and presents a compelling growth opportunity for Irish companies. Turkey is already a significant trading partner. Irish exports to Turkey have developed strongly reaching over €238m in 2011 and our combined trade is worth over €1bn.
This trade mission will help grow Irish business opportunities in Turkey and encourage mutually beneficial collaborative business ventures. Over the course of our two-day intensive itinerary, we will emphasise the quality and innovation of the participating companies and reaffirm that Ireland is open for business.”
EnterpriseIreland’s Director of Southern Europe, Middle East and Africa John McNamara added: “Already 125 Irish companies are involved in the Turkish market and there is strong interest among more Irish companies in deepening existing relations and exploring new business potential with Turkish business interests. Turkey holds significant potential for Irish companies in a number of sectors to grow exports and business partnerships to secure and grow their business back home in Ireland. The growing Turkish market has a lot to offer while Turkey’s geographic position, linking Europe to Asia, offers access to a combined regional market of 220 million consumers.”
Trade and commercial ties between Turkey and Ireland have expanded with growing two-way investments. Annual trade is worth approximately €1.2 billion (including services). Total merchandise trade in 2011 was valued at €768 m (+ 8% on 2009). Irish exports made up €430m (+13%) of that total.
Ireland’s chief merchandise exports to Turkey include medical and pharmaceutical products; essential oils; chemical materials; office & data processing machines.