Chambers Ireland and IACC sign Memorandum of Understanding

Chambers Ireland and the Irish Australian Chamber of Commerce (IACC) have signed a memorandum of understanding to strengthen the links between the two organisations and the Irish and Australian business communities.

Through collaboration Chambers Ireland and the Irish Australian Chamber of Commerce will offer access and support to members hoping to increase the trade and investment between Ireland and Australia. The two countries already have strong historic and cultural links and strengthening links between these two organisations will help build new trade relationships between the members of the Irish Chamber Network and members of the Irish Australian Chamber, helping to promote future economic and social objectives of mutual interest.

Speaking on the importance of the new relationship between the two organisations, Ian Talbot, Chief Executive, Chambers Ireland said: “The Irish-Australian relationship has long been defined by migration, particularly over recent years, where many thousands of people left Ireland for new opportunities abroad. As the economy is now recovering, we see huge potential to develop economic links through our diaspora in Australia. With the EU opening negotiations for a trade deal with Australia, we see countless opportunities for Irish businesses and investors to capitalise on our already strong relationship.”

Also commenting on the relationship, President of the Irish Australian Chamber of Commerce Rob Clifford said, “We are pleased to have this agreement in place to engage with Chambers Ireland and their member Chambers, and we look forward to the new possibilities that this relationship represents. We welcome the growing interest from Irish companies looking at Australia as their preferred base in the Asia Pacific region.”

Irish Australian trade facts:

• Australian merchandise exports to Ireland were valued at $55 million and imports from Ireland were valued at $1.82 billion in 2014-15.
• Australia’s trade in services with Ireland was valued at over $1.5 billion in 2014-15.
• In 2014, Ireland’s total investment in Australia was valued at $16.28 billion, while Australia’s investment in Ireland was valued at $8.83 billion.
• Dozens of Australian companies are now active in Ireland across many sectors.
• Enterprise Ireland is currently supporting over 150 Irish client companies from their Sydney office.