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Cape Town - A high-level trade mission from Ireland facilitated by Enterprise Ireland is in South Africa to look for trade partnerships and growth.
According to Irish Minister for Foreign Affairs and Trade Charles Flanagan, Ireland can be used as a portal for South African companies to break into the European Union.
"We are here to encourage businesses interested in looking at opportunities as we believe in the value of partnerships," Flanagan said at an Enterprise Ireland event in Cape Town on Friday.
Flanagan heads a high-level trade mission from Ireland as part of a series of trade missions to South Africa and Nigeria facilitated by Enterprise Ireland. Delegation members include the CEO of Enterprise Ireland, Julie Sinnamon, and executives from 34 top Irish enterprises.
"The composition of our trade mission shows the richness and diversity of the delegation members, ranging from aviation, financial services and IT to energy services."
He said Africa is attractive as a region for doing business as it is the second fastest growing region in the world at the moment and also has a rapidly growing middle class. He regards South Africa as the gateway to the southern African region.
"Trade between South Africa and Ireland is growing and there has been a dramatic increase in Irish companies setting up business in South Africa," said Flanagan.
"I think even more companies should set up business here and we want to create a greater awareness of existing opportunities."
He specifically mentioned Ireland's vibrant aviation sector and said it could link up fruitfully with Africa's aviation industry, which holds great opportunities.
Strategically important markets
Spearheading Ireland’s trade development initiatives, Enterprise Ireland established an office in Johannesburg in 2013, followed by an office in Lagos, and is now also looking to expand its presence into Nairobi.
“Africa, and specifically key growth hubs such as South Africa, Nigeria and Kenya, are strategically important markets for Ireland. Ireland has emerged as a world leader in several high-tech industry sectors."
This positions Irish business to deliver to African markets the advanced services and products the continent needs to accelerate growth, Flanagan told an audience in Johannesburg earlier this week.
“Ireland is one of the fastest growing economies in the world and the fastest growing in Europe. We are one of the most open economies in the world today."
Irish exports to 150 countries total R2.6trn. Ireland is the world’s biggest exporter of pharmaceuticals and second largest exporter of software. The country is also a recognised innovation leader in sectors such as food, manufacturing, engineering, cleantech, construction, life sciences, healthcare, education and e-learning, financial services, telecommunications and print paper and packaging.
Ireland’s exports to South Africa alone now exceed R15bn, with an annual growth of around 20%.
Fred Klinkenberg, Enterprise Ireland's country manager for South Africa, said at the Cape Town event that he likes the "can do" attitude of both Irish and South African businesses.
"This top-level visit is an indication of the strategic importance of the African market for Irish business. Africa is open for business, presenting a wealth of opportunity for Irish business," said Klinkenberg.
Through Enterprise Ireland, over 200 Irish businesses are already active in South Africa, employing more than 13 000 people.
