Ireland Keen To Boost Exports To Hong Kong And China

by Mary Swire, Tax-News.com, Hong Kong

01 March 2005

Irish Minister for Trade and Commerce Michael Ahern told a business forum in Hong Kong that the Irish government is keen to expand trade and investment with Hong Kong and China, and to build on the considerable growth in Irish exports to the region which has taken place in recent years.

“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," Mr Ahern stated at a breakfast meeting of the Hong Kong-Ireland Business Forum yesterday.

Mr Ahern went on to observe that combined exports to China and Hong Kong continued to climb sharply last year, growing by 19% to EUR1.34 billion in the period from January to November 2004. He also noted that the Irish government’s focus on building economic relations with Asia is now starting to pay dividends.

"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," he explained.

According to the Minister, Irish exports to Asia have increased to over EUR6bn, whilst the number of Irish firms that have established a presence in the region doubled to around 93 between 1999 and 2003.

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