Cork Chamber and Enterprise Ireland Target China Markets

Our two-way trade with China is now worth €5.75 billion a year and, last year, Irish companies sold a record €900 million of products and services in the Chinese market, an annual growth of 40% according to Minister for Trade and Commerce Mr. Michael Ahern, T.D.

Minister Ahern was speaking before his departure today (Friday 13^th October 2006) when he will lead a weeklong trade mission to Shanghai and Beijing on behalf of Cork Chamber of Commerce and Enterprise Ireland.

Last May Cork City Council and Shanghai Municipal Government signed a twinning agreement following which a delegation of more than one hundred Chinese people came to Cork for a range of meetings in business, tourism, education and culture. On foot of that visit, Cork Chamber was invited by Shanghai Chamber of Commerce to visit the city.

“There has been very significant progress in developing business with China. However, there is a major task in creating awareness of Ireland in China, which is a vital precondition to building strong trade and business links. Through Enterprise Ireland, we aim to bring Irish and Chinese companies and business communities into more regular contact, introduce Irish companies to specific opportunities in China and raise awareness of Ireland as a source of world class products and services amongst the Chinese business community,” Minister Ahern said.

The Minister noted that exports to China by Irish-owned companies have increased by more than 170% since 1999. The number of companies selling to China in that time has grown from 35 to over 80 and the number of Irish companies with a presence in the markets has grown strongly to 60.

“We have substantially stepped up Ireland’s presence in China and continue to do so. Recently IDA and Tourism Ireland opened new offices in Shanghai and Enterprise Ireland has expanded its office in Beijing and its Incubator facility in Shanghai.

“I am confident that many business opportunities will be generated as a result of the this trade mission and that large benefits will flow to its 20 participating organisations, if they can gain a foothold in the Chinese marketplace which has a consumer population of 1.3 billion.”

During his week long visit to the region Minister Ahern will hold a series of meetings with representatives of political, commercial and business interests.

While in Shanghai the Minister will also officially open the 11^th Asian Gaelic Games and present trophies to the winning teams.

ENDS

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