Supporting SMEs to Trade Internationally
In order to strengthen the competitiveness of the European economy, including its SMEs, economic policies must have a global dimension. Although Ireland would consider itself an exporting nation, the majority of our exports are confined to a small number of large indigenous companies, multinational companies and the FDI sector. Our smaller home-grown businesses are less inclined to export their products and services outside of Ireland. Should even a small number of our multinationals relocate their operations, Ireland would very quickly see a significant drop in export levels.
- A concerted effort is required, at both national and European level, to encourage and support Irish SMEs to become more internationally focused and capable of exporting their products abroad. Throughout 2019 we will be working to ensure that Irish SMEs are considered first and foremost as part of internationalisation strategies.
This year alone, the EU has signed a trade deal with Vietnam and a political agreement with the Mercosur states. Both agreements aim to provide opportunities to increase trade, support jobs and economic growth.
The EU-Mercosur trade political agreement which involves the EU, Argentina, Brazil Paraguay and Uruguay, was signed on the 28th June 2019. For more information about how this trade deal benefits Ireland and the EU, please click here.
The EU-Vietnam trade agreement which includes an Investment Protection Agreement was signed on the 30th June 2019. For more information about how this trade deal benefits Ireland and the EU, please click here.