FDII: Export figures illustrate need for “significant” gov investment
Food & Drink Industry Ireland, a division of Ibec, has pointed to Bord Bia's export figures for 2016 as evidence of the need for "significant government investment in market development."
12 January 2017 | 0
FDII director Paul Kelly has called on the government to formulate a market diversification and product innovation strategy that will allow Irish food exports to retain UK market share in the wake of the ongoing and fracturing Brexit developments.
“Currency pressure following the Brexit vote has already hit exports and jobs,” said FDII director Paul Kelly. “These problems have the potential to get a lot worse in the event of a single-market fracture post-Brexit.
“The national agri-food strategy Foodwise 2025 identifies market development as one of the key strategic pillars to deliver growth,” Kelly said. “Brexit has put that aspiration into sharp focus, given currency challenges and potential new barriers to market access.”
Kelly went on to state that a market diversification and product innovation strategy is required which will focus on maintaining the UK market share while also increasing exports to other EU countries and international markets. Funding should be allocated to the following:
- Resources to support rapid market access
- Intelligence, promotion and trade support for state agencies like Bord Bia and Enterprise Ireland
- Investment in international sales and marketing, including support for placement of marketing executives in international markets
- State supported trade financing
Kelly called for a €25m investment in these initiatives, and more.