Around 1,000 jobs could be created through a new Government plan targeting multinational companies based in Ireland to source their business locally.
Jobs Minister Richard Bruton said there was an €80 billion global market for Irish companies to tap, in an attempt to win contracts to supply materials and services.
"We have just less than 14% of that," Mr Bruton said.
"If we can win even another €500 million, a very small increase in that, that represents 1,000 jobs in Ireland. This is a really tangible opportunity."
His department, along with Enterprise Ireland and IDA, have identified 65 multinationals they think have potential for Irish business, the minister said.
This was a concrete initiative that could boost Irish sales, exports and ultimately create jobs, Mr Bruton said.
The goal was to achieve this by the end of next year.
As foreign direct investment in Ireland is expected to grow, there would be further potential for this over the coming years.
"There is an €80 billion market here on our doorstep of supplying multinationals with their needs for materials and services," he said.