Kelleher Leads Largest Irish Trade Mission To Russia In Over A Decade

Thirty Three Companies Take Part In Enterprise Ireland Trade Mission

On Tuesday, Minister of State for Trade and Commerce Billy Kelleher T.D., led the largest Irish trade mission to Russia in over a decade.

Russia is Europe's largest emerging market and is a key export market for Irish businesses in sectors such as engineering, aviation and aerospace, education and training, the life sciences, construction and building services, and food and beverages.

Thirty-three Irish companies are participating on the Enterprise Ireland mission, half of which are from the ICT and services sector.

Speaking ahead of the mission Minister Kelleher said "Irish companies are responding to the worldwide economic slowdown by actively developing opportunities in new markets. While Russia has not been immune to the current economic difficulties, the continued economic development of Russia has resulted in a much wider range of business and commercial opportunities for Irish companies than heretofore. Continuing Irish export growth into Russia is all the more noteworthy as it is occurring at a time of high Euro strength."

Russia is now the seventh largest European export market for Irish SMEs. Irish exports to Russia continue to grow year-on-year and combined exports of goods and service are now over €1.3bn. Irish-owned SMEs export more to Russia than any of the other BRIC (Brazil, India, China, Russia) countries.

Enterprise Ireland's Head of International Sales and Partnering Gerry Murphy added that there are particular opportunities for R&D collaboration between the two countries, "Ireland and Russia have a very similar national research and development goals, with a strong focus on funding research in nanotechnology, life sciences and ICT. There is considerable scope for Irish educational institutions to build linkages with Russian universities in joint programmes and the commercialisation of Russian R&D. Such linkages could benefit both Ireland and Russia, as both countries continue to build knowledge-based economies."

This week's trade mission to Russia is organised by Enterprise Ireland through its Moscow office. An extensive itinerary and programme of meetings has been organised for each of the Irish companies to meet with existing and potential customers and partners.