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Minister Charlie Flanagan travels to London to support Irish software and financial services firms

Minister Charles Flanagan, Trade, Press Releases, Great Britain, Ireland, 2014

 

Minister Charlie Flanagan travels to London to support Irish software and financial services firms to increase exports

 

The UK is Ireland’s most important export market for Irish owned companies, the Minister for Foreign Affairs and Trade, Charlie Flanagan, T.D., will tell business leaders during a trade-focused visit to London today focused on building opportunities for Irish companies selling in to the UK financial services sector.

 

Minister Flanagan is guest of honour at the annual Enterprise Ireland financial services event, which supports Irish software and financial services companies seeking to increase exports to the UK and create jobs in Ireland. The event is organised by Enterprise Ireland in close co-operation with the Embassy of Ireland. Senior executives from 23 Irish technology and financial services companies will attend along with their key UK-based clients from the banking, insurance, and retail sectors.

Senior executives from 23 Irish fintech and financial services companies will attend along with their key UK-based clients from the banking, insurance, and retail sectors as well as members of Enterprise Ireland London’s Financial Services Advisory Panel and Global Irish Network.

14 of the 23 Irish companies attending are high potential startups (HPSUs).

The 23 companies employ 900, with an estimated turnover of over €152 million in 2014, of which more than €31 million was exported to the UK market. UK exports are projected by this group to double in 2015 to reach €64 million.

Among the companies attending are startups Centaur and Moqom and investment fund managers Abbey Capital, payment solutions firm Monex and insurance business process outsourcing (BPO) firm OSG Outsource Services Group.

Speaking ahead of the visit, the Minister said:

“The clear message I am bringing to London is that Ireland remains a competitive and dynamic economy, which has recovered strongly since the years of the crisis and is now the fastest growing economy in the EU. I am looking forward to meeting Irish technology and service companies selling into the UK market. It is particularly remarkable that 14 of the 23 companies attending are high growth startups which bodes well for potential growth in the financial services sector.

“By the end of 2014 we will have achieved a fourth successive year of economic growth; Irish exports are at an historic high, far outstripping the levels reached during the economic boom. The unemployment level is declining and is now at a level last seen in early 2009.

“The UK is Ireland’s most important export market for indigenous exports, for food and beverages, and for tourism. Merchandise trade alone with the UK was worth €31 billion last year.

“Growing our exports is crucial to our recovery. This high-level Enterprise Ireland event, organised in close co-operation with the Embassy of Ireland, is an important element of Enterprise Ireland’s work in the UK.

During his visit, the Minister will also address the European Council on Foreign Relations (ECFR) on the topic of “Ireland, Britain and Europe”. The Minister will take the opportunity to outline the positive experience of more than 40 years of British and Irish EU membership, and the continuing importance of the EU in British-Irish relations.

He will also meet members of the Irish Community at the Falconwood Community Centre in Welling (South East London) when he visits the Irish Community Services Lunch Club there. The club is funded by the Department of Foreign Affairs and Trade through the Emigrant Support Programme.

 

ENDS

Press Office

13 November 2014