Speaking following the result of the Brexit referendum in the UK, Garrett Monaghan, Chair of the Ireland Canada Business Association, stated:
"The UK electorate’s democratic vote to leave the EU is a decision that will have inevitable consequences and implications for Ireland’s trading relationship with the UK and Canada. Although the pace at which the UK initiates and completes political negotiations remains to be seen, we believe Ireland will regardless continue to prioritise growth, stability and certainty with the UK. The ICBA believes and fully expects that Irish business and Government agencies have a common interest in working together to preserve and enhance Ireland’s critical historic, political and cultural ties with the UK.
Ireland’s role and offering to Canadian and international companies as a gateway to the EU single market remains unchanged. Ireland’s hard won and well-established reputation for winning and maintaining foreign direct investment will be critically important in the coming months once the terms of Brexit become clearer."
The strong trade relationship between Ireland and Canada is reflected in the impressive €2.75 billion of annual trade between Ireland and Canada in 2015. This includes fast-growing exports by innovative Irish companies to Canada and major Canadian investments in Ireland. The forthcoming implementation of the Comprehensive Economic and Trade Agreement (CETA) between the European Union and Canada will further bolster the potential for trade between Ireland and Canada. As Canada’s nearest neighbour to the EU, CETA presents Ireland with substantial opportunity to take the initiative in working with Canadian, international and domestic companies on significantly liberalised cross Atlantic trade. While indigenous Irish company exports to Canada have grown by over 250% in the last five years and currently stand at €185 million, it has been predicted that CETA will result in a €250m increase in Irish exports per annum.
The ICBA is committed to assisting our members in their bilateral investment and trade between Canada and Ireland . The ICBA has worked over the last 40 years to promote member views and protect their transatlantic businesses.
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“Our citizens have a long and close history together. Most of all, Ireland and Canada are connected through our shared values.”
Prime Minister Trudeau , Dublin 4th July 2017
ICBA Vice Chair Deirdre Giblin of NCI met Prime Minister Trudeau in a round table discussion hosted by An Tanaiste.
The work performed by ICBA in highlighting the opportunities that CETA will generate was applauded. The Prime Minister earlier in the day commented that:
“CETA will give Canadian and Irish businesses greater access to each other's markets; it will deliver stronger economic growth - the kind that benefits all citizens.
It will create more good, well-paying jobs on both sides of the Atlantic. Like Ireland, Canada is very much looking forward to the agreement coming into force."
The Tanaiste's Speech
Prime Minister Trudeau, Ladies and Gentlemen.
I extend a warm welcome to you Prime Minister and to you all here today
Ireland has a lot of connections with Canada.
Dublin Castle, 4th July 2017
Prime Minister Trudeau, Madame Grégoire Trudeau, Ministers, Ambassadors, Ladies and Gentlemen.
Tonight we celebrate the strong friendship between Ireland and Canada. And it is a very special night for me as you are the first Prime Minister to have visited Ireland since my election as Taoiseach. You and your family are most welcome. Ours are very old and historic countries - although their leaders seem to be getting younger! (more…)
Minister Eoghan Murphy promotes Ireland-Canada trade and cultural ties in his St Patrick’s Day programme
Today (15-March-2017) Eoghan Murphy TD, Minister of State at the Department of Finance and Department of Public Expenditure & Reform begins a programme of engagements in Toronto and Montreal. Commenting on his programme he noted,
I look forward to advancing a relationship built on a shared commitment to open trade and multilateralism. Our common language and legal tradition and strong cultural ties make Ireland the ideal gateway for Canadian business and investment into the European Union.
Annual trade between Ireland and Canada, the world’s 10th largest economy, exceeds €2.75 billion – a figure expected to increase by a further €250 million with the advent of the Canada-EU Trade Agreement (CETA).
Accordingly the Minister’s programme prioritises his Financial Services and Public Procurement portfolios. This includes a bilateral with the Ontario Minister for Finance, several IDA Ireland meetings with significant Canadian financial services companies, and an Enterprise Ireland facilitated tour of Toronto’s MaRS Discovery District – considered one of the world’s largest SME innovation hubs. Regarding this trade element he commented,
The Canada-EU Agreement will support increased investment into Ireland and give Irish SMEs easier access to a sophisticated, hi-income market. These are trade imperatives we must continue to act on in pursuit of a stable and prosperous future. CETA also opens up the Canadian public procurement market which, in tandem with the Canadian Federal Government’s recently announced multi-billion infrastructure investment programme, offers a means for Irish companies to diversify into new markets.
The cultural programme reflects the past and present of Irish migration to Canada. In Toronto, part of a province where one-in-six inhabitants claim Irish ethnic origin, the Minister will support the Ireland Park Foundation’s efforts to commemorate those Canadians who died caring for the thousands of Irish famine arrivals of the late 1840s.
He will also visit the Irish Canadian Immigration Centre, established to assist young Irish immigrants arriving in the wake of the International Financial Crisis – a figure that peaked at 14,000 per year during the recession. Commenting on this Minister Murphy noted,
It is right to now highlight the rich tapestry of Irish migration to Canada. This shared heritage illustrates how migration can be a force that binds countries together as opposed to one that divides.
The Minister’s programme concludes in Montreal on Sunday (19-March-2017) where he will meet representatives of the Ireland-Canada Chamber of Commerce and Irish community organisations before joining the Mayor of Montreal – Grand Marshal of this year’s St Patrick’s Day Parade – in celebrating its 375 year history as the oldest parade in Canada.
Minister for Jobs, Enterprise and Innovation, Mary Mitchell O’Connor TD, looks forward to the new opportunities that will arise for trade and investment under the EU-Canada Comprehensive Economic Trade Agreement (CETA) which is to come into effect this year. The Minister met with the Ireland Canada Business Association on 18th January 2017.“This Agreement will provide opportunities for Irish companies already trading in Canada as well as a new market diversification opportunity for others. It will also provide opportunities for Ireland to both grow the operations of Canadian companies already in Ireland as well as attracting new Canadian companies to Ireland as a base for servicing the EU market.” In 2015, total exports from Ireland to Canada amounted to €2.3 Billion with over 400 Enterprise Ireland client companies currently exporting to Canada. Canadian companies operating in Ireland that are clients of IDA Ireland employ some 2,800 people across a range of sectors.
“It is my intention to undertake a trade mission to Canada in the near future and I have already asked IDA Ireland and Enterprise Ireland to intensify their efforts to attract further Canadian investment and support Irish companies seeking to enter the Canadian market or increase their existing business levels,” the Minister said.