OPINION:A LOT of comment appears to question the value of overseas trade missions. I am very concerned that the focus has been on how much these missions cost rather than talking about their real value, writes HUGH COONEY
Since I took over as chairman of Enterprise Ireland in November 2008, I have participated in two trade missions – to north America in March and to China just last month.
I deal in facts and I would like to set out the facts on what happens on these trade missions and how important they are based on my recent personal experiences.
Firstly, I should say that substantial groundwork takes place in advance of any trade mission primarily by the relevant overseas office of Enterprise Ireland and their staff working closely with the office of the local Irish Ambassador.
I saw that the trade missions to America and China were invaluable in terms of helping our clients break into new markets, sign new contracts and increase their export sales, grow their business and secure employment at home in Ireland.
Growing our exports is essential to Ireland’s economic turnaround and recovery. We need to increase our focus and penetration into the fastest growing international markets and trade missions have a vital role to play in that.
At the end of our recent trade mission to China, I was approached by a number of our clients who participated including Money Point, Datalex, Taxback and Apex Fund Services who expressed a strong desire to speak to the Irish media on their return outlining their actual experiences of the trip and confirming how valuable the trade mission was. It is important that their voices are heard and that their stories, experiences and successes are communicated and shared as this will give great encouragement to other Irish companies to participate on future missions.
There are three key issues, or events, that will determine to a large extent our future: the Lisbon Treaty, Nama and most importantly, the budget due to be presented on December 9th.
The Lisbon Treaty was passed with a strong Yes vote. Nama is the best solution for our banking crisis and all I want to see now is for Brendan McDonagh and his team to get on with the work in order to enable the toxic loans to be swiftly removed from the balance sheets of the banks.
Finally, in relation to the upcoming budget, Ireland Inc needs to have a viable, credible and sustainable plan. If Ireland Inc was regarded as a company, it would be deemed technically insolvent and it would be given a short period of time to address its position.
The budget will be tough and will include harsh measures. However, it is imperative it give us the framework to go forward.
In 1984 our country and economy was in a more perilous state. We got through it. We did it before, we must do it again.
It is imperative that all stakeholders – the Government, civil servants, bankers, employers, employees and unions lead by example, work together, respect each other and we must be open, honest and timely in our communication.
I am confident that with the right attitude, the right spirit, the right grit, the right determination that “we can, we will, we must” get through the difficult period ahead of us and emerge fitter, stronger, better and well positioned to take advantage of the recovery when it happens.
Our great country has a good story to tell. Once the necessary decisions are taken we need to get out and “sell, sell, sell” – our culture, our entrepreneurship, our financial services centre, our software sector, our location, our spirit, our people.
We have come a long way. However, it will be down to us to make sure we continue the progress we have made, learn from our mistakes and face the future with confidence.
Hugh Cooney is chairman of Enterprise Ireland