Minister Ahern Meets with Hong Kong Political and Business Leaders

Minister for Trade and Commerce Mr. Michael Ahern will today (Monday 28^th February 2005) address a breakfast meeting of the Ireland/Hong Kong Business Forum. Minister Ahern, who is visiting Hong Kong at the invitation of the Hong Kong Administration, will hold a series of meetings with representatives of political, commercial and business interests during his week long visit to the region.

Speaking at the Business Forum breakfast Minister Ahern said he intended to build on the Taoiseach’s recent visit to China and Hong Kong where he led the largest ever Irish Trade mission to visit an international market. Minister Ahern said: “Hong Kong and China are now among the most sought after trading partners in the world and we in Ireland are obviously very keen to build on and expand our trade and investment here. Our exports to Hong Kong alone last year were at 830 million euro and rising; interestingly, they were higher than our exports to mainland China. Combined exports to China and Hong Kong continued their significant surge upwards, and amounted to €1.34 billion in the January – November period, an increase of 19% over the same period in 2003.”

Minister Ahern pointed that over the last six years Ireland has adopted a concerted and strategic approach to Irish economic relations with Asia. “Our Asia strategy has resulted in a big increase in economic activity between Ireland and the region, particularly with China and Hong Kong. We’ve increased our diplomatic and economic representation and have made very serious efforts to increase mutual awareness and contacts.

“The results have been very encouraging in terms of increased trade and investment. Trade exports to Asia have increased to over 6 billion Euro and by 2003 some 93 Irish companies had established in Asia, that’s double the number in 1999.

“The primary goal over the coming years will be to intensify the level of political, business and other forms of interaction with Asia so that Ireland can realise the trade and other benefits that the region can offer. We’ll be paying great attention to ensuring that indigenous Irish companies can avail of business opportunities available in Asia and we will be providing supports to help that happen” Minister Ahern added.

Minister Ahern said he was looking forward to availing of the opportunity to grow and expand the excellent contacts made and the very substantial business done during the recent Trade Mission.

ENDS/TC134