Speech by Minister Byrne at launch of report on the Canada-Ireland economic relationship, 30 October 2025

*Check against delivery*

A dhaoine uaisle, tá áthas orm a bheith libh inniu, le haghaidh seoladh na Tuarascála Eacnamaíche nua thábhachtaí seo ar an gcaidreamh idir Ceanada agus Éirinn.

Ambassador King, distinguished guests, ladies and gentlemen.

Welcome to Iveagh House.

I am delighted to join you all today, to launch this pivotal report, on the Canada–Ireland Economic relationship.

The relationship between Ireland and Canada can be defined by our closeness to one another, as a nation and as peoples, rather than by our distance.

As two nations which face each other across the span of the Atlantic, we often serve as the first port of call for that journey from Europe to North America, from North America to Europe.

Ireland-Canada relationship

As Ireland’s Europe Minister, I have been heartened to see the renewed energy in the relationship between Canada and the EU, which spans political, security and economic cooperation.

For Ireland, there is a clear opportunity to act as a gateway to Europe, for the benefit of both of our economies.

This report captures the practical economic links between us, and the opportunities, for even greater cooperation in the future.

Authored by the Conference Board of Canada, and commissioned by Team Ireland in Canada, it tells a remarkable story:

• Ireland is now the 10th largest investor in Canada, with inward investment flows, of over $14 billion.
• We are now the seventh largest destination for Canadian services worldwide.
• Eight of the top ten Canadian companies, four of the top six Canadian banks, and four of the five leading Canadian software firms, now have bases in Ireland.
• And our two-way trade has nearly doubled since the provisional implementation of CETA, which we intend to fully ratify, very soon.

So, before I turn to the opportunities ahead, let me take a moment to thank those who have helped make this report possible.

I want to acknowledge the leadership of Team Ireland, IDA, Enterprise Ireland, Bord Bia, Tourism Ireland, IBEC, the Canada Ireland Business Association, and our Ambassador, John Concannon, and his team in Canada for collaborating on this important project.

And I want to thank Team Canada – represented today by the Canadian Ambassador, Dennis King, for your partnership and role in expanding the Canadian footprint in Ireland.

This new economic study affirms the strength of the Canada–Ireland economic relationship — but I am sure the Ambassador will agree with me, that it also shows that we have only scratched the surface of what is possible.

The study highlights the potential to increase traded goods between our two countries by US $1.4 billion annually — a 34% rise — and to expand trade in services by over half a billion US dollars.

That means new contracts for businesses, new jobs for workers, and new prosperity for communities on both sides of the Atlantic.

This is the message that Taoiseach Micheál Martin brought to Ottawa last month.

Our Taoiseach is hugely committed to this relationship, and I know that he is keen to return next year to Canada, at the head of an expanded trade mission.

During his visit, the Taoiseach announced two flagship initiatives for the years to come:

(i) Canada-Ireland 180 – which will mark the 180th anniversary of the peak of Irish migration to Canada in 1847, and will seek to foster new cultural, academic, and economic bridges across the Atlantic.

(ii) And secondly, a partnership between the Irish and Canadian governments to recognize the contribution of General John de Chastelain to our peace process, by naming a scholarship programme in his honour which will be delivered by the Irish Canada Universities Foundation.

While in Ottawa, the Taoiseach invited Prime Minister Carney to visit Ireland next year as we take on the EU Presidency, in July 2026.

This would be an important signal of the importance we attach to the EU-Canada relationship at a pivotal moment for both of our countries.

And next year, Ireland plans to host a Canada–Ireland Business Leaders Summit in Ireland – ideally to coincide with the visit of Prime Minister Carney – to bring companies together, create new partnerships, and ensure that today’s potential becomes tomorrow’s reality.

In the meantime, our Minister for Enterprise, Tourism and Employment, Peter Burke, will lead a trade delegation to Canada next month.

As well as trade and investment, our place in Europe brings major opportunities in research and innovation.

By partnering with Irish institutions, Canadian universities, research institutes, and companies can now join our Horizon Europe consortia — the EU’s €95 billion flagship programme for research and innovation – and gain direct access to funding and world-class collaborations.

Conclusion

So, it is clear that Ireland and Canada are natural partners — we are outward-looking, innovative, and ambitious.

My friends, together we can lead in areas like clean technology, medical devices, financial services, agriculture and agri-tech, digital innovation, and higher education.

The opportunities are vast.

And our challenge now is to seize those opportunities.

So, let’s be ambitious for the future.

To drive two-way trade to new heights.

To build the partnerships that will create the next generation of jobs and innovation.

And to make Ireland that key partner and gateway for Canada into Europe.

Thank you.

Go raibh míle míle maith agaibh go léir.