The Minister for Trade and Commerce John McGuinness has announced €3.6m in new contracts for Irish firms in Mexico during the latter half of this week's Enterprise Ireland Trade Mission to Latin America. It follows on from the €5.5m in contracts secured in Brazil at the beginning of the week.

The contracts signed in Mexico include the opening of new office by Galway Group Fintrax. The company has been selected by the Mexican tax authorities (SAT) to implement a nationwide Value Added Tax (VAT) refund program for tourists.

Speaking from Mexico City, Minister McGuinness said: "Irish exports to South America are growing steadily accounting for over €1bn annually. Brazil and Mexico, as the two largest markets in the South American Region represent significant opportunities for Irish exporting companies. Already, over 85 Irish companies are engaged in export activities with Brazil while 13 Enterprise Ireland clients have a physical presence in Mexico, employing up to 4,000 people there.

"This highly successful trade mission has given a new impetus to increasing direct trade with South America and as Enterprise Ireland continues to drive its Latin American strategy we expect to see more Irish success stories in the region in a divers range of sectors including construction, education, IT, telecommunications and financial services."

Tom Cusack, Director of the Americas for Enterprise Ireland added:

"Over 10 per cent of sales of Irish-owned companies to the Americas are destined for Latin America. Having recently established offices in Brazil and Mexico, Enterprise Ireland is committed to assisting its clients to develop stronger links in this region and to driving Irish exports in these rapidly growing economies."

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