Explore Patrick Torrekens' insights on the robust trade growth between Ireland and France, the sectors benefiting the most, and the importance of the Interceltic Business Forum for fostering Celtic connections.
The upcoming Interceltic Business Forum promises to be a platform for dynamic discussions and insights from influential leaders. One of the notable speakers at the event is Patrick Torrekens, the Head of Enterprise Ireland France.
Join us as we explore Patrick's insights into the thriving trade relationship between Ireland and France and the significant role Enterprise Ireland plays in fostering these connections.
Enterprise Ireland is a trade agency of the Irish government that brings Irish innovation to the world stage. The agency supports over 5000 Irish start-up and scale-up businesses across different industry sectors in areas such as strategy, innovation, operational excellence, marketing, funding and organisational development. Outside of Ireland the agency has 40 offices around the world where sector experts are assisting global companies with sourcing world-leading technology from Ireland and building sustainable partnerships.
Enterprise Ireland has a team of 11 staff in France operating out of offices in Paris and Lyon. Our market advisors are knowledgeable about the market needs in France and how Irish capability matches those needs. Our team offers expertise in sectors such as agriculture, engineering, construction, life sciences, digital, professional services, sustainability, consumer products, … In France we have built a network of “pathfinders” who work with Irish companies in a targeted way. All sectors combined, Enterprise Ireland client exports to France represent a turnover of 1.8Bn€, showing strong growth over the past 5 years.
At macro level, both exports and imports from Ireland have both increased considerably, particularly during the last 3 years.
2022 was a record year in terms of trade of both goods and services, with a record figure of over €30 billion. The total volume of goods trade between Ireland and France has seen remarkable growth over the past decade. French exports to Ireland have tripled from €2.2 billion to €6.6 billion over the past 10 years while imports from Ireland have nearly doubled over the same period. This data shows a robust and rapidly growing economic bond between Ireland and France. The implementation of Brexit, making France Ireland’s closest neighbour in the European single market, and the investments in additional maritime links between the two countries has boosted trade activity significantly.
The same trend can be observed in the export figures of Enterprise Ireland clients to France: While exports were below 1Bn€ in 2019, they have now reached the record figure of 1.8Bn€. France has moved up the ranking of export destinations for Irish companies now being the 5th export destination globally and the third in Europe after UK and Germany.
While medical and pharma products have a dominant position in exports from Ireland to France and have experienced growth over the past years, engineering and construction products and services are the sectors that benefit most from the changing trade pattern. When looking at the Enterprise Ireland export figures one can observe strong growth in niche sectors such as agricultural machinery, high-tech construction and precision engineering. 2023 witnessed a boost in the technology sector with 30% growth, with a prominent role taken by digital products. Sustainability solutions are also gaining traction in thetrade between Ireland and France.
Enterprise Ireland is keen to support and be involved in initiatives that bring the business communities of Celtic regions closer together. It is an opportunity for peer-to-peer learning, for networking and for forging stronger trade links with regions that have a common business culture. Many of our companies have clients, distributors and partners in the Celtic regions surrounding Ireland. Sectors of particular focus include agriculture, port infrastructure, alternative energy and precision engineering. The Celtic interconnector project, the construction of a submarine electricity cable connecting Cork with the Brittany region, French, Irish and others will team up to deliver a project of strategic importance for both countries. With the growing importance of maritime links as export/import channel, Ireland needs to build a strategic connection with the ports in the North of France. The economic importance of this link cannot be underestimated.
As we look forward to the Interceltic Business Forum, the insights and opportunities shared by speakers like Patrick Torrekens are invaluable for driving economic growth and collaboration among the Celtic nations.
Don’t miss out on the chance to be part of this dynamic event. Join us on August 12th in Lorient to network, learn, and help shape the future of our interconnected economies.
Sign up now and be a part of this exciting journey!
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