Mr. Kevin Sherry:

I thank the committee for its invitation today to brief members on ASEAN trade. Accompanying me today is Mr. Brendan Flood, head of international sales and partnering, Mr. Conor Fahy, and Mr. David Byrne, both also of that division. Our chief executive, Ms Julie Sinnamon, unfortunately is unavailable to attend as she is on a trade mission to South Africa. She asked me to convey her apologies to the committee.

Enterprise Ireland’s vision is that Irish enterprise will be a powerhouse of economic growth and job creation. Enterprise Ireland works with manufacturing and internationally traded services companies across the country. Our supports are tailored to reflect companies’ stages of development from early-stage entrepreneurs and start-ups to middle-sized companies, ensuring they can access the appropriate supports to help them to create and build their businesses and, most importantly, sustain jobs. In January, Enterprise Ireland reported that its client companies had created 19,705 new jobs in 2014. These companies continue to see year-on-year jobs growth. This employment growth demonstrates the real impact that the increase in exports has had on jobs in Ireland. Enterprise-Ireland-supported companies now directly provide employment for 180,072 people, comprising 156,202 full-time and 23,870 part-time workers.

Looking at the overall contribution to the economy, Enterprise Ireland clients support more than 300,000 jobs, directly and indirectly, which represents approximately 16% of the total workforce. In terms of scale and economic impact, those client companies spend in excess of €22.8 billion annually in the economy. In 2014, total exports from these companies exceeded €18.6 billion, more than at any time in the history of the State. This covered a wide range of sectors including food, construction, internationally traded services and life sciences, with a growth rate last year of 9.9%.

Priority markets continue to be the UK, the US and Europe. While those core markets account for the majority of our clients’ exports - 69% - high-growth markets such as Asia-Pacific and the Gulf countries, as well as South Africa, Russia and Brazil, will be an increasing source of future exports. It is Enterprise Ireland’s ambition that these markets will account for over €3 billion by 2016, a 50% increase on the export figures for 2013.

Enterprise Ireland clients saw exports to ASEAN markets grow by 17% last year, reaching €296 million. Singapore and Malaysia are the two most important markets in the region. Supporting this impressive export growth in 2014, Enterprise Ireland assisted clients secured more than 1,300 new customers and significant contracts. We also brought 907 international buyers into Ireland to encourage them to source from Irish companies.

Enterprise Ireland’s international office network is a vital resource for our clients. Our network of 33 international offices helps our clients win business. In August 2013, the Government approved our recruitment of 20 additional staff in high-growth markets. We have added nine additional staff to the Asia-Pacific region since 2013, including an additional two full-time staff members supporting ASEAN markets from our Singapore office. These overseas offices provide a range of services, from helping clients gain market knowledge to identifying how to win business and secure customers. Enterprise Ireland has eight offices in the Asia-Pacific region with 36 full-time staff, six of whom are in our office in Singapore.

Enterprise Ireland deploys what we call a hub-spoke and pathfinder network. We have central offices and also support pathfinders, which are effectively specialist trade consultants, and there are 14 of them based in ASEAN markets. Our dedicated high-growth markets team, based in Dublin and managed by my colleague Mr. David Byrne, which works in conjunction with our offices in the marketplace, helping local companies in Ireland to prepare for those markets. While over 90% of Enterprise Ireland’s activities are one-to-one company work, we have taken wider initiatives over the past year. More than 1,000 client companies took part in 18 Minister-led trade missions in 2014, with a further 67 international events in major target markets in North America, Europe, Asia, the Middle East, and Latin America. This week, in addition to a trade mission to South Africa led by the Minister for Foreign Affairs and Trade, there is a trade mission to the US, led by the Minister for Education and Skills, and an event in the aerospace area.

It did a specific joint trade mission with UK Trade & Investment and Invest NI at the beginning of 2014 to the ASEAN region, to Singapore. It was the first such mission of its type. It is very important to say that Enterprise Ireland also has very strong working relationships with other Departments and agencies. Without them we would not be able to do our job overseas. We are, in fact, co-located with embassies and consulates or with other agencies wherever possible. As I have mentioned, in the case of the Asia-Pacific region, we have eight offices, six of which are co-located with an embassy or consulate.

Finally, I would like to convey that Enterprise Ireland is wholly focused on supporting and servicing the needs of our clients. We have ambitious targets which are yielding results and delivering and sustaining jobs here in Ireland.

I thank the Chairman and would be delighted to take any questions.