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Contract clothing in the Baltics past and present. Where is the future? Intertextil Balticum 2012 13.04.2012. Brendan Finnegan.

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Presentation on theme: "Contract clothing in the Baltics past and present. Where is the future? Intertextil Balticum 2012 13.04.2012. Brendan Finnegan."— Presentation transcript:

1 Contract clothing in the Baltics past and present. Where is the future? Intertextil Balticum Brendan Finnegan

2 Today Irish company`s Delmount manufacturing story from infancy. Establishing outsource manufacturing in the Baltics Proposed way forward for Contract manufacturers in the Baltics, thinking outside the box. Russian advantage reference gateway to Europe and business partnerships ILCC as a tool to fix the future

3 Delmount History of Contract Manufacturing in the Baltics INTRODUCTION Formally manufactured in Ireland for 20 years Customers in Ireland and England Design Input and weekly working plan – Time is of the essence Change of customer to Private Label and establish Outsourced Production Facilities Irish warehouse co-ordinating material and trimmings Sourcing Baltic Partners and Factories Building trusting relationships

4 Contract clothing in the Baltics – past and present. Where is the future? Latvia’s main exported commodities are: Wood and wood products Machinery and equipment Metals Textiles Foodstuffs The main export partners are: Lithuania Russia Estonia Germany Sweden Denmark

5 Sell your vision Come armed with value Show don’t tell Ignore initial objections at your peril Always be open to learning something new At every moment be professional

6 Contract clothing in the Baltics – past and present. Where is the future? Irish-Russian Dialogue The Irish government is set to a positive dialogue with Russia in the economic sphere, Richard Bruton TD, Minister for Enterprise, Jobs and Innovation, concluded at the event. “Irish-Russian relations are on the rise. In particular, the Irish services in high demand on the market. Many Irish companies have already achieved success in Russia in such areas as: medicine, agriculture, construction, information technology, aviation

7 Contract clothing in the Baltics – past and present. Where is the future? Technology Transfer Agreement Professor Eskindarov, Rektor of the Finance University under the government of the Russian Federation, Moscow will visit the Dublin Institute of Technology (DIT) College of Business on 18 th April 2012 and sign an agreement with DIT. The agreement will endorse programme development, staff exchange, student exchange and collaborative research and is a very important step in Irish academic community making essential links with Russia.

8 Business in Practice: Alternative Dispute Resolution in Ireland and Russia Legal issues to be addressed Courtroom based litigation can be protracted, laborious and expensive. Additionally, the vast discrepancies between litigious proceedings in the two jurisdictions as well as obstacles such as the language barrier and the general apprehension inherent in being a party to commercial legal proceedings in a foreign jurisdiction, all play a part in disincentivising Potential Investors from taking that essential final step to sealing the deal. For years, the trend in international commercial contracts (for the purposes of this note, international commercial contracts means contracts of a commercial nature concluded between two parties domiciled in different jurisdictions) has been to agree to a specific arbitration clause.

9 Ireland-Russia bilateral trade, September 2011 Irish – Russian Trade on the Increase Irish exports to Russia totalled €46.9 million in September, up 61.2% yoy, against Irish imports from Russia of €7.8 million, up 14.7% yoy. Irish trade surplus with Russia stood at €39.1 million in September, up 75.3% yoy. Revising annual forecast, I now expect Irish exports to Russia to reach €520 million in 2011, against €373 million in 2010, while Irish imports from Russia to settle at €125 million, down from €159.7 million in The resulting annual trade surplus will be around €398 million or more than the combined trade deficits in Irish trade with China and India in 2010.

10 Planning a new venture? Ireland is the best location in the world for start ups. The World Bank recently ranked Ireland as the top country in Europe for starting a company. As well as hosting some of Europe’s top accelerator programs, Ireland has a high rate of seed and venture capital availability. Ireland’s population is young, highly innovative, well-educated and multi-lingual. Strategically located with easy access to the important markets in Europe, US and the Middle East. Ireland is an English speaking country in the Euro-zone. Ireland is a great place to live and work.

11 Latvia - Ireland

12 Why Ireland Ease of doing business Tax regime Gateway to world markets Ireland is a low bureaucracy, low tax environment. It is ranked third in Europe (seventh in the world) by the World Bank in terms of ease of doing business, ease of paying taxes and starting a business, as well as investor protection. Ireland is committed to maintaining its competitive 12.5% corporation tax rate. The corporation tax system is simple and transparent, and income taxes are relatively low. A 25% Research & Development (R&D) tax credit which may be refundable over a three year period; Ireland is one of the most open and globally connected countries in the world. Its geographic position, easy transport links to Europe, the US and the Middle East; and membership of the EU and Euro provides easy access to some of the richest markets on earth.

13 Key Areas for Business in Ireland ICT Product Sales IT support Outsourcing Manufacturing & Product Development Partnering for accessing new markets

14 About ILCC Founded with one aim – to assist and develop trade between Latvian and Irish businesses Based in Ireland and Latvia Experienced‏ team of professionals Offering a full range of export support and business development services to Irish and Latvian companies, including Market Access, Sales Support and Investment opportunities.

15 How can ILCC help? To find business partners and customers Represent a business or foreign investor Do market research Organise networking events Help with participation in Trade missions Educate/train businesses on new trends and markets Support with legal advise

16 We are supported by: Embassy of Ireland and Latvia Investment and Development Agencies Chambers of Commerce and Industry (LCCI/LTRK)

17 Thank You!

18 QUESTIONS?


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