MINISTER KITT LAUNCHES THE ASIA PACIFIC STRATEGY COMMITTEE

Mr Tom Kitt, Minister for Labour, Trade and Consumer Affairs, today (Thursday 27th January 2000) welcomed the establishment of the Asia Pacific Strategy Committee to oversee the implementation of the Government's long-term strategy to develop foreign earnings in the Asia Pacific region, including Australia.

The Committee will be responsible for overseeing the implementation of the Government's Asia Strategy as set out in the report 'A Strategy for Long- Term Development of Foreign Earnings in Asia' and in particular the establishment of a programme to raise awareness of Ireland with key decision makers in Asia.

Minister Kitt said that "Asia will be a major engine of world economic growth in the next half-century and Ireland cannot afford to ignore the opportunities which will arise, from a trade, investment or national competitiveness point of view".

One of the goals of the Committee is to improve political and business contacts in the Asia-Pacific Region as well as to raise awareness of Ireland as an investment location and as a source of high quality exports.

The Committee includes representatives from the various Governmental promotional agencies such as Enterprise Ireland, IDA, Forfas, Bord Bia, Bord Failte and Bord Iascaigh Mhara as well as the Department of Enterprise, Trade and Employment and the Department of Foreign Affairs. After consultations with relevant organisations in the private sector, a number of private sector representatives with relevant experience in Asian markets have been identified to assist and participate in the work of the Committee.

"Asia will be pivotal to Ireland's long-term economic interests and it is essential that we develop a coherent and sustained strategy for the effective promotion of our economic interests in that part of the world. Considerable progress has been made with regard to enhancing our diplomatic and promotional representation in the region: - the Government has already decided to establish a new Embassy in Singapore and new Consulates-General in in Shanghai and Sydney and Enterprise Ireland has also decided to assign representatives to those locations" the Minister said.

The Minister also praised the Report which was prepared by the Asia Strategy Group. The Report is a welcome contribution to the debate about the growing importance of diversifying our trade geographically.

"This report is the first ever detailed analysis of Ireland's economic interests in Asia and contains a series of challenging recommendations as to the strategy which we need to take in order to increase our political, trade and investment ties with Asia " the Minister said.

(Copies of the Report 'A Strategy for Long- Term Development of Foreign Earnings in Asia' will be available from the Government Publications Sales Office and on the website of the Department of Enterprise, Trade and Employment: www.djei.ie).