Minister Eoghan Murphy in Asia to promote Ireland’s Financial Services and the 2017 European Financial Forum

19.09.16

Minister of State for Financial Services, Mr Eoghan Murphy TD, today (19-Sept-2016) departs to advance Irish official and trade links across Asia.

His seven day programme will include launching the 'IFS Ireland' brand* in the global financial centres of Singapore, Shanghai and Tokyo - a key action of the Government's IFS 2020 International Financial Services Strategy.

The trade component of the Minister's programme, organised by Enterprise Ireland, will include leading a delegation of 12 financial services and technology companies to participate in events around the Asia visit.

Speaking ahead of his departure Minister Murphy said,

“Launching the 'IFS Ireland' brand in these target markets is a great opportunity to showcase our unique financial services' offerings - our market access, our educated workforce, and the increasing depth and sophistication of our indigenous financial services' sector.”

“My aim is to highlight Ireland’s capability, global offering and growing reputation as a hub for specialist international financial services. I look forward to building on the excellent work of our Embassies and trade agencies to enhance existing links and open up new opportunities in these markets.”

The 'IFS Ireland' brand serves to promote Ireland as a destination and location for International Financial Services and will support Irish service providers operating in key Asian markets.

The IFS 2020 Strategy, now in its second year, is driving the growth of international financial services in Ireland with the target of adding 10,000 jobs to the sector by end-2019. Key to this is capturing new opportunities in a changing marketplace and embracing the highest standards of governance.

'IFS Ireland' reflects the Government's strategic and coordinated approach of harnessing the State's diplomatic and trade agency networks to promote Ireland as a leading European financial services' centre and destination of choice for international financial services.

Commenting on the trade promotion aspect of the Minister's programme, Enterprise Ireland CEO Julie Sinnamon noted how FinTech and Payments are Enterprise Ireland priority sectors in both Ireland and in the Asia Pacific region,

“There are currently over 20 Irish companies active in the Asia Pacific region, many with multiple presences across the region. These companies exported more than €115M to this region last year and are forecasting significant growth over the next five years.”

“Twelve Irish Fintech companies will participate in events in Singapore, Shanghai and Tokyo this week. I am confident that there are exciting opportunities for collaboration between Irish and Asian companies in the Financial Services sector and I look forward to hearing of the successful business partnerships that will result from this visit.”

Another key IFS 2020 deliverable is the hosting, with the support of IDA Ireland, of the 2nd 'European Financial Forum'. Launched last January in Dublin Castle, Minister Murphy aims to build on its success by placing a special focus on trade with Asia at the next Forum scheduled for the 24th of January 2017.

IDA Ireland CEO Martin Shanahan CEO noted,

“Growing foreign investment from Asia is a key part of IDA's strategy. In the coming years, we will seek to partner with more Asian firms as IDA expands the number of financial services companies located here. The forthcoming European Financial Forum will be an ideal platform from which to tell our story to Asian investors.”

As well as an ideal Forum to discuss the major challenges facing Financial Services in Europe and internationally, a focus will be placed on promoting diversity in financial services and the exploring the emergent risks and opportunities of fintech and blockchain technologies.

* More information and updates about IFS Ireland and the European Financial Forum can be found at www.ifsIreland.com and via the Twitter hashtags #IfsIreland, #EFF2017

ENDS

19 September 2016

Further information from:

David Byrne - Press Officer - pressoffice@finance.gov.ie - + 353 86 026 7978

 

Notes for editors

Relevant Links:

Embassy of Ireland Singapore: https://www.dfa.ie/irish-embassy/singapore/

Embassy of Ireland China - Shanghai: www.dfa.ie/irish-consulate/shanghai/

Embassy of Ireland Japan: www.embassyofireland.jp

IDA Ireland: www.idaireland.jp

Enterprise Ireland: www.enterprise-ireland.or.jp