Eleven PEI companies are in Ireland this week to explore trade and export opportunities in Europe's fastest-growing economy. The group visited the Canadian Embassy in Dublin this morning to get an overview of the Irish economy as well as gain insight into how business is done in Ireland.
Marie Stamp, Senior Trade Commissioner with the Canadian Embassy, addressed the group as did representatives from PriceWaterhouseCoopers. PEI Premier Pat Binns is accompanying the trade mission to Ireland and is confident that now is a good time to do business with Ireland companies.
"The Irish economy is referred to as the ‘Celtic Tiger' due to its rapid growth," noted the Premier. "PEI exports to Ireland are currently valued at $800,000 annually. With its economy being so strong, Ireland is the perfect market for Island companies to explore. We already have an established trade relationship with Ireland and now is the time to build on that."
Ireland is slightly smaller in size than New Brunswick (70,000 square kilometres) but has a population of 3.8 million. The country once had higher unemployment rates but, with its recent growth, unemployment is now almost nonexistent (less than 4 per cent).
"Ireland was once considered a poor country but, now that it has seen so much success in recent years, the country plans to stay a strong economy," said Joe McGuire, Member of Parliament for Egmont, who is also participating in trade mission events. "With such great momentum in this market, the federal government is happy to support these PEI companies who are taking the initiative to seize the opportunities here."
The trade mission is an initiative of Trade Team Prince Edward Island, a partnership of federal and provincial government departments and agencies that offer various forms of export assistance to active and potential exporters. The Atlantic Canada Opportunities Agency and Prince Edward Island Business Development Inc. are among the partners.
Over the next several days, the PEI companies on the trade mission will participate in seminars, one-on-one business meetings, and networking events - all of which are designed to provide benefit to Island companies, Irish businesses and political leaders by furthering knowledge of markets, encouraging linkages and increasing prospects for bilateral business co-operation.
Participating companies include: Atlantic Canada Home, Atlantic Tourism & Hospitality Institute, AVC Inc., Bergmark Guimond Hammarlund Jones Architects, Charlottetown Metal Products, Creative Esthetics Dental Laboratory Inc., DeltaWare Systems Inc., Polar Foods International Inc., Rob Roy Builders Inc., Softworld 2002, and the University of Prince Edward Island Co-operative Education.