Alberta offers ‘significant opportunities’ for Irish companies

Minister of State begins three-day trade mission to target Canada’s natural resources industry

Minister of State Joe Costello said the Canadian oil and gas industry offers Irish companies ‘compelling growth opportunities’ for Irish companies. Photograph: Dara Mac Dónaill/The Irish Times

Minister of State Joe Costello said the Canadian oil and gas industry offers Irish companies ‘compelling growth opportunities’ for Irish companies. Photograph: Dara Mac Dónaill/The Irish Times

 

Minister of State for Trade and Development Joe Costello will begin a three-day trade mission today targeting Canada’s natural resources industry.

Fifteen Irish companies in the engineering, construction, technology and recruitment sectors will take part in the Enterprise Ireland trip to Alberta, supported by the Department of Foreign Affairs and the Embassy of Ireland to Canada.

Canada has the third largest known oil reserves in the world and is currently the sixth largest global oil producer. It is expected to produce over five million barrels of oil per day by 2022.

To achieve these numbers over the next 10 years, owners will be investing significantly in capital projects, which “presents compelling growth opportunities for Irish companies who can provide a solutions-based approach to an area of need”, Mr Costello said.

“This trade mission is about helping Irish companies tap into this potential by building on existing trade links and opening new doors for collaborative business ventures.”

During the trip to Calgary and Edmonton, the Minister will hold a series of meetings with ministers of the Alberta government and senior officials on trade and economic cooperation, as well as business meetings with Irish companies and their Canadian partners and customers.

Enterprise Ireland divisional manager Brendan Flood, who is accompanying Mr Costello, said: “Canada’s natural resources industry offers enormous potential for ambitious Irish companies to establish themselves and grow export sales.”

Exports to Canada by Enterprise Ireland client companies grew by 26 per cent last year, which “demonstrates that there are significant, tangible opportunities for increased trade and partnerships between Irish and Canadian companies”, Mr Costello added.

The number of Enterprise Ireland Ministerial-led trade missions has more than doubled since 2011 in an effort to increase international trade and exports.

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