Engineering Industries Ireland is calling on the Government to urgently establish a State-backed Export Credit Scheme to level the playing field for Irish industrial engineering exporters competing in increasingly volatile international markets. 

With global trade facing unprecedented challenges — from geopolitical tensions to supply chain shocks in a tariff war that is likely to go on for months— the absence of a State-backed export credit insurance scheme in Ireland is placing domestic exporters at a severe disadvantage compared to their European counterparts.

Pauline O Flanagan, Director of Engineering Industries Ireland said, "Engineering, electronics and industrial equipment account for €1,408,797,864 of tariffed exports to the US which accounts for 36% of US share of trade, in product.

“A State-backed Export Credit Scheme would not only protect and grow our existing export base — it would directly support Government ambitions for a more diversified, resilient and sustainable economy.

“Given the economic uncertainty many businesses are currently facing, we cannot afford to fall behind our competitors— the credit scheme is a prime example where this is already happening."

Noranne Stack, Enercon and EII chair commented: “Irish engineering companies — from multinationals to innovative SMEs — have the talent and the ambition to compete globally, particularly in fast-growing sectors like green energy, climate technology, and advanced manufacturing.

“But without a modern export credit scheme, we are tying one hand behind their back. Export credit support is an essential tool used across the EU and beyond. It is time for Ireland to catch up.”

“Engineering Industries Ireland highlights that international models show such schemes operate with minimal cost to the State.

“Without these supports, Irish exporters face greater difficulty securing contracts, slower access to working capital, and additional cost burdens compared to their EU competitors."