Work of the Bilateral Trade Promotion Unit
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Trade Missions
Each year the Unit coordinates in the region of 15-20 Ministerial-led overseas trade missions. These involve high-level meetings with Ministers and officials, an extensive range of meetings for participant Irish companies with the aim of developing contacts and/or finalising contracts/joint ventures with partner companies in those countries and also developing an awareness of Ireland as a supplier of world-class goods and services.
The Unit also coordinates incoming visits by various Ministers and officials from a number of countries throughout the year.
The Unit works closely with Ireland’s industrial development agency, Enterprise Ireland, on trade promotion. Information on other recent trade promotion events undertaken by that Agency can be accessed through the Enterprise Ireland’s Press Release page.
Key Trade Statistics
The Unit maintains statistical data on Irish trade on a month-by-month basis and analyses trends in our import/export performance of both merchandise and services trade. A summary of Ireland’s trade performance from 2003 to September 2009 can be accessed at http://www.entemp.ie/trade/bilateral/trade%20perf%20tables.pdf.
This table is updated quarterly by the Unit and reflects the ongoing revisions by the Central Statistics Office (CSO). This link also includes a list of Ireland’s top merchandise and services export categories (2008), merchandise export countries (2008), services export countries (2008) and a list of the key Euro exchange rates trends 1999 to November 2009.
Merchandise Trade
2008 Statistics
The gradual upward trend of Irish merchandise exports observed since 2003 was reversed in 2008. In 2008, the CSO reported that Irish exports were ¤86.4 billion and imports were ¤57.6 billion.
Ireland’s Top 5 Export Destinations 2008 (Merchandise)
USA ¤16.7 billion;
United Kingdom ¤14.3 billion;
Belgium ¤12.3 billion;
Germany ¤6.1 billion;
France ¤5.0 billion.
For more detailed statistics on merchandise trade visit the Central Statistics Office’s website at: http://www.cso.ie/statistics/external_trade.htm.
Services Trade
Ireland’s Top 5 Export Destinations 2008 (Services)
Germany ¤ 6.9 billion
USA ¤4.9 billion
France ¤4.9 billion
Italy ¤4.5 billion
The Central Statistics Office has published data on services for the first 9 months of 2009 available as part of their data on Balance of Payments at http://www.cso.ie/releasespublications/documents/economy/current/bop.pdf
This data shows that Ireland’s exports of services reached ¤51 billion and imports were ¤54.2 billion that quarter, which reflects a 1.37% decrease in the overall level of services trade between Jan – Sept 2008 and Jan – Sept 2009.
The website of Forfás, Ireland’s National Economic Development Authority and Advisory Board, has reports on competitiveness and industrial policy issues accessible at http://www.forfas.ie/publication/search.jsp, some of which include trade policy aspects.
Other Initiatives
Asia Strategy
In 1998, the Government authorised the establishment of the Asia Strategy which aims to enhance the relationship between Ireland and Asia. The policy document ‘A Decade of the Asia Strategy, 1999-2009’ sets sectoral targets for the period 2005-2009 to expand Ireland’s political, trade and economic links with the main Asian economies. A High Level Group was established to oversee progress on the strategy and report to the Government on developments. It is chaired by this Department and has members from other Government Departments, Enterprise Ireland and key business and academic figures. The Unit acts as Secretariat to the Group which will continue to meet over the lifetime of the Strategy. Progress so far has been very positive with a significant development of trade and other links between Ireland and the main Asian economies.
Joint Economic Commissions (JECs)
Joint Economic Commissions are formal Bilateral Intergovernmental fora to deal with trade development in all its aspects, mercantile and services. They serve to further the development of economic and business cooperation, including scientific and technological cooperation and to provide a forum for discussing issues between the two countries involved. They are usually held every two years. This Department administers four existing formal Joint Economic Commissions with Russia, China, Saudi Arabia and South Korea. The Seventh Session of the Ireland-Russia Joint Economic Commission was held in Dublin on 3rd March 2009 . The next session of the Ireland-Saudia Arabia Joint Economic Commission, which will be the eighth such meeting, is planned for April 2010.
Other Areas of Responsibility
Export Credit Insurance
Pre – 1998 Scheme
The Export Credit Insurance Scheme, which was administered by this Department for many years, was suspended in 1998. Some export credit debt owing to the State remained outstanding for a number of years but, more recently, recoupment efforts have been ongoing and are continuing with considerable success. A total of ¤6.3m has been recovered since 2004.
Possible reintroduction of State-supported Export Credit Insurance
Since the State withdrew from the provision of Export Credit Insurance in 1998, exporters have been able to avail of such insurance on the open market, as commercial operators made such cover easily available. However, over the last year, insurers have been reducing or withdrawing cover and there has therefore been some market failure in this sector.
In response to this problem for business, this Unit arranged that a reviewof the export credit insurance market be carried out by Forfas. This report was finalized in April last and concluded that there would be significant problems associated with a State scheme as sought. It was therefore decided to undertake a full-scale forensic examination of the Credit Insurance market in Ireland and international consultants KPMG were commissioned to undertake this work. Their report found that the introduction of a State-backed Short-term ‘Top –up’ scheme would be expensive and of very limited impact, and that a negligible number of jobs would be supported by such an initiative. In addition, it was established that there are indications that this market is showing signs of recovery and that the insurance companies should therefore begin to provide better levels of cover from now on. Accordingly, based on the overwhelming weight of evidence in the KPMG report, the Government decided in November last, that a State-supported scheme of short-term export credit insurance should not be introduced.
EU Commission Groups
We participate in an EU programme to assist certain countries in Central and Eastern Europe and Central Asia, i.e., the Instrument for Pre-Accession Assistance (IPA – formerly PHARE).
OECD Anti-Bribery Convention
The Organisation for Economic Co-operation and Development (OECD) initiated a Convention on Combating Bribery of Foreign Officials in 1997.
This Convention is aimed at reducing corruption by encouraging sanctions against bribery in international business transactions, carried out by companies based in Convention Member Countries. This Unit has been actively involved in Ireland’s awareness raising obligations with the Irish development agencies and with Irish trade and professional organisations that interact with Irish companies operating abroad.
Details are set out in the brochure produced by this Unit in May 2008:
The OECD Convention on Combating Bribery (PDF, 1.2MB)
Further information on the OECD Convention and of the wider Irish Government involvement in this process, is explained on www.anticorruption.ie.
OECD Investment Committee
The Unit represents Ireland at the Organisation for Economic Cooperation and Development (OECD) Investment Committee which provides a forum for international cooperation, policy analysis and advice to governments on how best to enhance the positive contribution of investment worldwide. One of the aims of the Committee is to promote implementation of the OECD Guidelines for Multinational Enterprises. These Guidelines comprise recommendations addressed by Governments to multinational enterprises operating in countries that adhere to their provisions and provide voluntary principles and standards for responsible business conduct in a range of relevant areas. The Unit also acts as National Contact Point for the promotion of these Guidelines. A list of all NCPs is available through the following link: http://www.oecd.org/dataoecd/17/44/1900962.pdf.
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Further information is available in the brochure ‘OECD Investment Committee: Promoting Investment for Growth and Sustainable Development Worldwide which can be accessed at http://www.entemp.ie/trade/bilateral/Investment%20Committee%20Brochure.pdf. As a follow-up to the Guidelines, the Investment Committee has developed a report entitled ‘The OECD Risk Awareness Tool for Multinational Enterprises in Weak Governance Zones’ which aims to help companies that invest in countries where governments are unwilling or unable to assume their responsibilities.
Last modified: 27/01/2010
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