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News : Irish Economy Last Updated: Feb 21, 2012 - 6:45 AM

Enterprise Ireland says Irish-owned indigenous firms responsible for 6.4% of Irish exports to China in 2011
By Finfacts Team
Feb 20, 2012 - 1:57 PM

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Chinese Vice President Xi Jinping (l) meets with Irish President Michael D. Higgins in Dublin, capital of Ireland, Feb. 20, 2012, Photo: Xinhua

Enterprise Ireland, the State enterprise agency responsible for promotion of indigenous enterprises, said today that Irish-owned firms were responsible for 6.4% of Irish exports to China in 2011. 

The agency announced that indigenous Irish exports to China grew by 10% in 2011, for the second year in a row and the agency is aiming for a further 15% growth in 2012.

Enterprise Ireland made the announcement at the China Trade and Investment Forum of more than 350 business delegates from Irish and Chinese firms. China’s Vice President Xi and the Taoiseach Enda Kenny TD. attended the forum which was organised by Enterprise, Ireland, IDA, Bord Bia and Science Foundation Ireland as part of Vice President Xi’s official visit to Ireland this week.

Enterprise Ireland is reporting that client exports to China grew by 10% in 2010 to €251m and initial estimates show that 2011 delivered a further 10%. The agency is said it's aiming for a 15% growth in indigenous exports to China in 2012. More than 200 Irish companies are exporting to China - - 140 of them have offices in China.

Exports in 2010 totalled €4.3bn and most of them came from the mainly American-owned foreign-owned sector in Ireland

Speaking at the event, Enterprise Ireland CEO Frank Ryan said: “The visit to Ireland by Vice President Xi is hugely significant in terms of Ireland’s export-led recovery. China is a priority market for Enterprise Ireland and we’re working intensively with Irish companies to help them access growth opportunities in China.”

Frank Ryan added: “We are proud of our clients’ performance that has seen them grow Irish exports to China by 10% year on year. This makes China the number one destination for indigenous Irish exports in the Asia region.”

The China Ireland Trade Forum involved several presentations to highlight Ireland’s strengths to the Chinese delegation such as high-end technologies from Ireland; Ireland as a location for 3rd level education for Chinese Students; Ireland as a source of some of "the world's leading food products to include dairy, meat and beverages and Ireland as a compelling investment location."

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