Minister Michael Ahern launches new initiative aimed at targeting Chinese market

Michael Ahern TD, Minister for Trade and Commerce today (Tuesday, 6^th December 2005)launched a Chambers of Commerce initiative to encourage business in China, at the Stephens Green Hotel, Dublin

Speaking at the launch the Minister said “I am very happy to be invited here today by the Chambers of Commerce of Ireland to launch the Master Class on doing business in China. This is an initiative, which will give an added boost to the actions being taken under the Governments Asia Strategy 2005-2009 launched earlier this year and the Agencies involved in the promotion of Irish trade and economic links with China.”

“As a result of this work, we have seen the expansion of our diplomatic and promotional presence in China, increasing political contacts and raising awareness of Ireland in China has also led to increased awareness of China here in Ireland. An indication of the level of commitment that the State Enterprises are showing in strengthening our relationship is reflected in the fact that Enterprise Ireland now has 4 offices in China, located in Beijing, Shanghai, Guangzhou and Hong Kong. It is also encouraging to see that other State organisations such as IDA, An Bord Bia and Tourism Ireland have also opened offices in the region ”, the Minister continued

Ireland's total trade with Greater China (including Hong Kong) in 2004 was worth in the region of €4.8 billion. Exports to the area were €1.5 billion and Imports from the area were

€3.3 billion. Trade continues to increase, with Irish exports to mainland China growing by 38% and imports growing by 23%. Irish companies with a presence in China & Hong Kong has increased from 17 in 1999 to 55 in October 2005.

A recent Enterprise Ireland Trade Mission to China, led by the Taoiseach was the biggest Trade Mission ever to leave Ireland. During the visit contracts to the value of over €125 million were signed and significant Investments to the tune of €46 million were made in China. In February this year, 24 Education establishments visited China to participate in Education fairs in five major cities, with a view of encouraging Chinese students to study in Ireland.

“In a few short years China has transformed itself at great speed, and the selection of Beijing as hosts of the 2008 Olympics, a tremendous boost for the country, is evidence of the worldwide recognition of China's rightful position as a leading nation in the International community, and the rapid pace of change that permeates Chinese society”, the Minister added

“It is against this background of opportunity that I would congratulate the Chambers of Commerce of Ireland on this new initiative and I wish great success to those businesses embarking on their journey into this remarkable market”, he concluded.

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