Irish firms secure EUR9.1 million on mission

30-05-2008

by Emmet Ryan

An Enterprise Ireland backed trade mission to Latin America has seen Irish firms secure a total of EUR9.1 million in contracts.

Participating businesses secured EUR3.6 million in the latter half of the week in Mexico, having already scooped up EUR5.5 million worth of deals in Brazil.

Businesses from all over Ireland enjoyed success on the trade mission. Galway group Fintrax opened a new office in Mexico and announced its selection by the Mexican Tax Authorities to implement a nationwide value-added tax refund programme for tourists.

Other deals on the trip saw Dublin firm OpenJaw Technologies sign a significant contract in Mexico with globoGo.com, one of Latin America's leading travel companies. OpenJaw will supply the globoGo with a new technology platform that will enable the Mexican firm's customers to search for flights, hotel accommodation and build travel packages that meet their individual requirements.

Irish academic institutions also enjoyed success on the trip. Waterford Institute of Technology (WIT) signed a co-operation agreement with a Mexican third level scholarship agency. WIT has previously signed a co-operation agreement with a Brazilian Scholarship Agency and Ahembi Morumbi -- one of Brazil's leading universities. Not to be outdone, Dublin City University announced new scholarship agreements with two third level education foundations in Mexico which will provide financial support for Master's degrees at DCU to outstanding Mexican students.

The success of the mission was praised by the Minister for Trade and Commerce, John McGuinness. "Irish exports to South America are growing steadily, accounting for over EUR1 billion annually. Brazil and Mexico, as the two largest markets in the South American region represent significant opportunities for Irish exporting companies. Already, over 85 Irish companies are engaged in export activities with Brazil while 13 Enterprise Ireland clients have a physical presence in Mexico, employing up to 4,000 people there," said McGuinness.

"This highly-successful trade mission has given a new impetus to increasing direct trade with South America and as Enterprise Ireland continues to drive its Latin American strategy we expect to see more Irish success stories in the region in a diverse range of sectors including construction, education, IT, telecommunications and financial services," he said.

Enterprise Ireland said it was committed to build on the deals achieved in this trade mission and help Irish firms develop new business in Latin America.