Jimmy Deenihan
Question:2 Mr. Deenihan asked the Minister for Tourism and Trade the objectives he has for his forthcoming visit to Malaysia; the companies that will accompany him on the trade mission; and if he will make a statement on the matter.
Ceisteanna—Questions. Oral Answers. - Trade Mission to Malaysia.
(Donegal South-West): On the invitation of His Excellency, the Prime Minister of Malaysia, Dr. Mahathir, the Taoiseach will pay an official visit to Malaysia from 27 to 30 May 1993. The Minister for Tourism and Trade will accompany the Taoiseach, together with a substantial trade delegation.
The visit is a follow-up to the visit to Ireland last September by the prime minister accompanied by a number of his ministers and a Malaysian trade delegation.
I see the objectives of the mission as further cementing the growing trade relationships between Ireland and Malaysia as well as raising the profile of Ireland among the Malaysian business community.
Malaysia is one of the fastest growing economies in Asia with growth rates of 8 per cent over the last five years. The market offers great potential for Irish companies especially in the service sector.
About 20 Irish companies will participate in the mission. The mission has a specific strategic focus and the companies are drawn from four major sectors, aviation, healthcare, education/training and engineering. In addition, there is also a number of companies from the food sector which already have a substantial trade with Malaysia. A number of the companies will be signing agreements aimed at developing further co-operation with their counterparts in Malaysia.
During the visit, the Minister for Tourism and Trade will also participate in bilateral meetings with a number of Government Ministers to discuss ways of further developing trade and economic relations between Ireland and Malaysia.
Will the Minister of State indicate the value of Irish exports to Malaysia and the position Malaysia holds in the world trade league so far as Ireland is concerned?
(Donegal South-West): In 1992, we exported £28.235 million worth of goods and services to Malaysia — this is a provisional figure — and imported £36.735 million worth of goods. This leaves a shortfall in the balance of trade in the region of £8.5 million. This is healthy when one compares it with the figure for 1991 when the shortfall was £17.5 million. Apart from 1989, this is the lowest it has ever been. I do not know what position Malaysia holds in the league but I can obtain this information for the Deputy.
Does An Bord Tráchtála have a permanent office in Malaysia? Will a cost benefit analysis of the present initiative be carried out by the Department of Tourism and Trade and An Bord Trachtála? It is a huge trade mission.
(Donegal South-West): Malaysia is covered by our office in south-east Asia. Along with the Taoiseach, the Minister for Tourism and Trade is due to meet a number of ministers during his visit to Malaysia and I am sure on his return he will have some fresh ideas in regard to what can be done to develop further our trade relationships with that economy, which is one of the fastest growing in Asia.
Will the Minister of State list the products and services that we export to Malaysia?
(Donegal South-West): Exports from this country to Malaysia include essential oils, perfume materials, toiletries, cleansing preparations, organic chemicals, office machinery, automatic data processing machines, electrical machinery, apparatus and appliances, textile yarn and fabrics and made-up articles.