Terence Flanagan
Question:67. Deputy Terence Flanagan asked the Tánaiste and Minister for Foreign Affairs and Trade the steps being taken to improve trade with China; and if he will make a statement on the matter. [1448/14]
View answerWednesday, 15 January 2014
Questions (67)
Written answers
Developing Ireland’s trade and investment relationship with China is an ongoing priority for the Government. The importance of China as a trading partner for Ireland is reflected in the large number of high level visits that have taken place between Ireland and China in recent years, and the strong growth seen in many key sectors.
Total trade with China (including its various territories) exceeded €8 billion in 2012. Goods and services exports amounted to €5.4 billion, making China Ireland’s 9th biggest export market, and our largest in Asia. The Export Trade Council, which I chair, is responsible for the implementation of Ireland’s Trade, Tourism and Investment Strategy. The Council includes relevant Ministers, heads of State Agencies involved in trade promotion, along with representatives of the private sector. The Trade Strategy, a review of which will shortly be presented by the Government, identifies China as a priority market.
Regular Ministerial visits play a major role in encouraging and facilitating trade and investment. I was invited by Foreign Minister Wang Yi to visit China in July/August 2013 and in addition to our bilateral meeting, I met with several senior members of the Chinese Government and held discussions on the full range of bilateral issues, including human rights. While in Beijing and Shanghai, I engaged in trade promotion activities involving a wide range of companies active across all sectors of the economy. Implementation of trade priorities in China is led by the Local Market Team, chaired by our Ambassador and comprising the Embassy in Beijing, the Consulate in Shanghai, and the relevant state agencies. Specific, focused assistance for Irish exporters is provided by the Local Market Team and Enterprise Ireland. EI works with companies to build knowledge and capability, provide mentoring and support, offer funding to explore opportunities, and to build trade links.
Export growth of 19% was recorded in 2012 to bring the total value of goods and services exported by Irish owned companies to China to €346m. Enterprise Ireland has set the objective of achieving exports of €600m by 2016 – an ambitious 73% growth rate over 2012 figures.
The priority target sectors for export development over the coming 3 year period are:
- Financial Services
- Clean Technologies (including Energy Efficiency and Green Buildings)
- Pharmaceuticals
- Information Technologies
- Medical Devices
- Education Services
- Agri-Technologies
- Equine Products and Services.
The value of Irish agri food and related exports to China grew from €167m in 2010 to €323m in 2012, an increase of 93%. Exports for the first 9 months of 2013 were €321m compared with €235m in the same period in 2012 (a 37% increase) and are estimated to be in excess of €400m by end of year. Bord Bia has also established a “Food Hub” in its office in Shanghai which provides a cost-effective way for Irish companies to achieve a presence within the market. At present nine companies are represented in the Bord Bia Food Hub.
My Department, in conjunction with the State Agencies, will continue to utilise all opportunities to promote increased trade and investment between Ireland and China, and to take full advantage of the substantial goodwill and positive relations that exist between our two countries.