China's tallest building - - Shanghai's World Financial Center

Enterprise Ireland Trade Mission to China: Minister for Education and Science Batt O'Keeffe TD and Minister for Trade and Commerce John McGuinness T.D. today jointly announced that Irish companies and organisations signed contracts and agreements with Chinese organisations that will lead to new export sales valued at €25m over the next 12-18 months.

No detail has been provided and the time period of 12-18 months, suggests that much of this business is more aspiration than reality.

As not one contract has been identified while the ministers would invariably engage in political puffery, an element of skepticism is in order. 

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The announcement was made at Enterprise Ireland's business breakfast in Shanghai this morning, which was attended by more than 400 guests and marked the completion of the first leg of the Enterprise Ireland trade mission to China.

Commenting on the announcement, Minister O'Keeffe said: "This is the second largest trade mission to leave Ireland (the largest was also to China in 2005). It comprises 94 companies and 180 business participants covering a wide variety of business sectors including Education, Medical Devices, Aviation Services, financial services and telecommunications. I am delighted to see such strong representation from the education sector. Education is a key sector for the Irish economy and essential to the promotion of Ireland overseas. The signing of agreements that will be worth €25m over the next 12-18 months is a remarkable achievement."

Minister for Trade and Commerce John McGuinness TD said: "Quite a number of the contracts that have been agreed in Shanghai represent first time sales in this market for small and medium Enterprise Ireland client companies. It is clear evidence that Ireland is well and truly open for business at many stages of business development and augers well for future growth and internationalisation of our own Irish-owned business sector."

Frank Ryan, Chief Executive Officer of Enterprise Ireland commented:  "This grade mission builds on the success of all previous missions to China - a high growth market for our companies. It is very significant that our client companies continue to compete and win business against intense global competition at the highest level."

The Enterprise Ireland Trade Mission to China today moves to Beijing for the final leg of the mission.