Ireland outlines new economic diplomacy strategy

Ireland on Tuesday unveiled a new economic diplomacy strategy to be spearheaded by the country's Department of Foreign Affairs and Trade and its 80-strong embassy network.

At a gathering of over 150 business leaders, Minister for Foreign Affairs and Trade Charles Flanagan said his country will establish a three-tiered market promotion fund to give Irish embassies more capacity and autonomy to pursue trade and wider promotional opportunities.

Flanagan said his country will also adopt a pilot program of locally-hired commercial attaches. He called for an increased flow of critical data on Irish exporting sectors and companies.

At the gathering, the Irish minister set out the key role which economic diplomacy has and continues to play in the country's economic recovery and in driving the country's economic resilience and sustainable prosperity.

"The government's goal is to keep the recovery going and to spread its positive effects around the country. This year, the Department of Foreign Affairs and Trade is further developing its approach to supporting Ireland's trade promotion activities," he said.

"It is widely accepted that embassies are particularly effective at opening doors for Irish businesses overseas and for providing important advice and networking opportunities for companies trying to break into new markets. Economic diplomacy is a critical part of our country's exporting trade success," he added. Enditem