Tánaiste hosts business breakfast for His Excellency, Mr Wen Jiabao, Premier of the People's Republic of China
Mary Harney, Tánaiste and Minister for Enterprise, Trade and Employment, today (Wednesday 12th May) hosted a business breakfast on behalf of Enterprise Ireland for His Excellency, Mr Wen Jiabao, Premier of the People's Republic of China. Approximately 140 representatives of Irish business and education attended the event in the National Gallery of Ireland, Dublin.
Speaking at the breakfast the Tánaiste said that China is rapidly becoming a very important player in Ireland's foreign trade. "It is expected that in future years China will become even more important on three fronts - as a market for Irish products and services; as a source of raw materials, parts and components for our manufacturing industry; and as a location for outsourcing".
Commenting on the excellent trade opportunities for Irish companies in China, the Tánaiste said that Ireland was keen to expand on the pattern of two-way trade growth between the two countries. "There has been a significant growth in the number of Irish companies doing business, exploring the market and establishing representation in China.
"New business opportunities exist for Irish companies in a number of sectors, but in particular in Software & ICT for Mobile telecoms, eGovernment and financial sectors, Medical Devices, Engineering and Environmental services and Education. Enterprise Ireland has offices in Beijing, Shanghai and Hong Kong and has recently expanded representation by opening a new office in Guangzhou in South China and will open an office in ChengDu in West China later in the year. I would encourage Irish companies to use these offices as a first step to accessing information about the Chinese market" she concluded.
ENDS/ETE 1218
Notes to Editors
- Trade between Ireland and China has been increasing rapidly. Two way trade is up over 100% since 2000. 2003 CSO statistics show Ireland-China trade at Euro2.8bn, with exports amounting to €584m and imports amounting to €2,216m.
- China's economy has boomed over the past decade with average growth in excess of 8% per annum.
- Chinese GDP growth in 2003 was 7-8%
- China's total GDP in 2002 was US$1.2 trillion (still small in world rankings), 2003 estimate is US$1.25 trillion
- Foreign Direct Investment in China exceeded US$ 50 billion in 2002: the No. 1 destination for FDI in the world
For further information contact:
Kathleen Quinlan
Press Officer
Enterprise Ireland
087-969 1680
Last modified: 13/05/2004
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