Minister for Enterprise, Tourism and Employment Peter Burke is this week leading a joint Enterprise Ireland and IDA Ireland four-day Trade Mission to Toronto and Ottawa in Canada.
The trade mission aims to boost trade relationships, promote Irish companies to the Canadian market and highlight the country's attractiveness for Canadian companies seeking to expand to Europe.
A total of 30 Enterprise Ireland clients are taking part in the trade mission, with a focus on the financial services, life sciences and technology sectors.
Enterprise Ireland announced a record-breaking year for Irish exports to Canada earlier this year, reaching a new high of €585m in 2024. This marks 32% growth in exports over the past three years and underscores the deepening trade relationship between the two countries.
About 300 Enterprise Ireland client companies regularly export to Canada across sectors including digital technologies, industrial tech, high-tech construction, fintech, agritech and education.
55 Irish companies entered the Canadian market for the first time last year.
Canada is also an important source of Foreign Direct Investment (FDI) for Ireland with the number of new IDA clients originating from Canada growing steadily over the last number of years, due to the growing links between the two economies and increased opportunities between Canada and Europe.
Ireland is an attractive location for Canadian companies to invest due to access to the European and EU Market, the deep talent pool available and to grow and serve the customer base in a business friendly and pro-enterprise country.
Key events during this week's trade mission include a meeting between leading Canadian telecoms network Rogers and Irish telecoms company Alpha Wireless, a cybersecurity roundtable featuring Siren, Daon and Waratek, and a Canada-Ireland Tech Event at the CN Tower.
"Irish companies already make a significant impact to the Canadian economy, with exports reaching a record €585m in 2024, Canada being the fourth largest market for Irish technology and services companies," Minister Peter Burke said.
"Ireland's continued contribution to FDI to Canada, at almost $14 billion, highlights the depth of the economic ties between both countries and we believe there is significant opportunity for future growth, both for Irish companies and for Canadian companies seeking a European base," he said.
Enterprise Ireland CEO Jenny Melia said this week's trade mission to Canada reaffirms Enterprise Ireland's commitment to strengthening bilateral trade, promoting world-class innovation, and supporting the continued diversification of Irish companies in one of the world’s most dynamic and growing markets.
"Our team in Toronto are focused on supporting more companies to succeed in this exciting market. We now have 300 Enterprise Ireland client companies exporting to Canada on a regular basis, reflecting sustained growth in recent years - especially within the construction, digital technology, and fintech sectors," she added.
Mary Buckley, Executive Director at IDA Ireland, said she welcomed the opportunity to meet with the agency's Canadian clients in market, and to share the strong message that Ireland is an excellent location for companies to expand their global footprint to serve their customer base in Europe.
"Competition for foreign direct investment has never been as intense and trade missions like this play an important role in increasing awareness of Ireland’s offering as an attractive place to invest," she added.
