Biggest Trade Mission to leave Ireland planned for China - Tánaiste

Enterprise Ireland `Doing Business in China' Guide launched

Mary Harney, Tánaiste and Minister for Enterprise, Trade and Employment, today announced that one of the largest trade missions organized by Enterprise Ireland will accompany the forthcoming State Visit by President Mary McAleese to China. Approximately 127 people from 77 companies and educational institutions representing a cross section of Irish business and education will participate on the mission, which will take place between October 9^th and 15^th. The Tánaiste was speaking at the launch of an Enterprise Ireland booklet, `Doing Business in China - A Guide for Irish Companies'.

Highlighting the importance of the Chinese market to Ireland, the Tánaiste said: "The Asia Strategy Committee which was set up in 1998, identified that our relationship with China at all levels needed to be improved. In 2000, I led a major trade mission to China, which set the scene for increasing the numbers of Irish companies active in that market. Over the past four years, Enterprise Ireland has implemented a very proactive strategy to develop export opportunities for Irish companies and to raise the awareness, both in Ireland and in China, of the potential for increased trade".

"The guide being launched today is an introduction to China, to its culture and to its business practices. It also deals in some detail with a number of important industry sectors. The information contained here will serve as a useful primer for interested parties and will point the way to the steps to be taken in entering the Chinese market. The forthcoming Trade Mission to China will provide valuable opportunities for a large number of Irish companies to further develop export markets", the Tánaiste added.

Mr Peter Coyle, Executive Director, Enterprise Ireland said: "China is rapidly becoming a very important element in Ireland's foreign trade - both as a market for Irish products and services and as a source of raw materials, parts and components for our manufacturing industry. Enterprise Ireland is concentrating resources on the wealthier eastern coastal provinces of China and on industry sectors where there is the greatest potential for the export of Irish goods and services. Most of these sectors are dealt with in individual chapters in the Guide launched today, including Information Technology and Telecommunications, Healthcare, Construction services and the Education sector. Irish companies in all of these sectors are now active and prospering in the Chinese market. The Trade Mission in October which will accompany the President's State visit will build on the links already established and foster future trade relationships".

Notes to Editors:

Speakers from industry at the event included:

Mr. Joseph Moore, MD - Sigma Wireless Technologies Ltd

Mr. Sean O'Driscoll, Group CEO - Glen Dimplex Group

Mr. Ted O'Morchoe, Projects Director Asia Pacific - Infocell Ltd

Enterprise Ireland now has offices in Beijing, Shanghai and Hong Kong. Trade and technology centers have been opened in Beijing and Hong Kong to provide space for Irish start-ups.

Total trade with China in 2002 grew by 42% and Irish exports to the market grew by 62%. Exports to China amounted to €547m in 2002 and imports were to the value of €1,493m (CSO).

China's economy has boomed over the past decade with average growth in excess of 8% per annum.

Chinese GDP growth in 2003 will be 7-8% (including a 1% reduction for SARS).

China's total GDP in 2002 was US$1.2 trillion (still small in world rankings).

Foreign Direct Investment in China exceeded US$50 billion in 2002. China is the No. 1 destination for FDI in the world.

ENDS