Minister of State for Trade, Employment, Business, EU Digital Single Market and Data Protection, Pat Breen TD, is today commencing a trade and investment mission to China with the aim of highlighting the strong trade and investment links between Ireland and Greater China. 12 Enterprise Ireland supported companies will participate on this five-day mission, with seven Enterprise Ireland supported companies participating at the China Hi-Tech Fair in Shenzhen for the first time. 19 IDA existing and target IDA client companies will also participate in the program over the five days. The mission includes participation at the China Hi-Tech Fair in Shenzhen, a number of high-level EI and IDA Client meetings, a meeting with Shenzhen’s City Government, media and engagements with the Irish community. Asia Pacific is one of the fastest growing regions for Enterprise Ireland backed companies.
Over 600 Enterprise Ireland companies are currently exporting to the region with exports of over €2bn, which increased by 73% over the last four years. 22% of clients have identified the Asia Pacific region as a key target market for export growth. Commencing on Monday 11th November, the China Hi-Tech Fair will see seven Irish companies showcased to over 500,000 visitors. Held annually in Shenzhen, it is the largest and most influential technology fair in China. Companies including Decawave, Innalabs and Taoglas are among the companies showcased at the Fair. The event will be a pivotal platform to promote Ireland to Chinese partners as a source of world class products and services across a range of sectors.
Speaking on his arrival in China, Minister Breen said “China is not only a major bilateral trading partner but also a key partner for growing and furthering links in education, tourism, science and technology and research. There is massive potential to further increase the two-way trade across a range of sectors, including life sciences, digital and technology, financial services and fintech. Irish companies already have a proven track record in supplying innovative products to Chinese buyers. This trade mission and Ireland’s presence at China Hi Tech Fair will help to accelerate the expansion of Enterprise Ireland backed companies into mainland China. During the mission, I look forward to engaging with key decision makers to promote Ireland as a source of world-class products and services,” added Minister Breen.
Tom Cusack, Enterprise Ireland’s Regional Director, Asia Pacific, reaffirmed the benefits to Chinese and Irish companies on this week’s Trade Mission, “Greater China now accounts for 52% of exports to the Asia Pacific region and 4.4% of global exports. Building on this strong growth and the potential for further expansion into this fast-growing market, Enterprise Ireland is setting ambitious targets to increase exports to China. The Irish Advantage offers significant benefits for companies in China looking to partner with Irish businesses. Our participation in the China Hi-Tech Fair is an excellent opportunity to showcase these innovative companies in the Chinese market.”
John Conlon, Executive Vice President and Head Asia Pacific Operations at IDA Ireland said “This is a terrific opportunity to promote Ireland as a world class business location and to relay the strong message that Ireland is a gateway to Europe, an excellent location choice for those investors considering establishing operations in Europe and very much open for business.”
About Enterprise Ireland
Enterprise Ireland is the Irish State agency that works with Irish enterprises to help them start, grow, innovate and win export sales in global markets. Enterprise Ireland partners with entrepreneurs, Irish businesses, and the research and investment communities to develop Ireland’s international trade, innovation, leadership, and competitiveness. In this way, we support sustainable economic growth and regional development and help create and sustain employment in Ireland. www.enterprise-ireland.com