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IRISH EXPORTS TO China could increase at rates of up to 11 per cent every year to 2030, with large demand for expensive consumer goods driving growth.
Asia Trade Forum chairman Hugh Kelly said that the ICT and life sciences sectors would lead the charge, with food and dairy also contributing to growth.
As middle classes grow, the whole Chinese economy is moving up the value chain. We’re well positioned as the demand for higher tech products increases – we’re not in the low cost space, we’re in the value space.
The Asia Trade Forum will run a series of nationwide seminars on doing business with Asia, as well as business visits to India and Malaysia this year.
Kelly said that he was unconcerned at the prospect of economic slowdown in China and other large Asian economies.
“The economy may or may not be slowing down, but with population growth and modernisation demand is inevitably going to increase.”
He said that Ireland has not always replicated its successful trade with the US around the world, but recent developments such as a $100m co-development fund for exporting start-ups launched by the China Investment Coporation and the National Pension Reserve Fund had the potential to turn that around.
At the launch of the Asia Trade Forum in Iveagh House, Minister of State at the Department of Foreign Affairs and Trade Joe Costello said the government was in lock-step with the industry’s Asian ambitions.
He said three recently opened trade missions in Hong Kong, Indonesia and Thailand would “substantially increase our footprint in Asia, and will serve to boost trade, tourism, investment and other links with Ireland.”
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Another reason not to introduce GM foods into Irish farms. Stick with the high end luxury goods, what you are good at.
Can’t believe I had to scroll this far down to find an interesting, thought provoking comment.
The relentless negativity and trolling in the journal comments section these days is really quite appalling.
I lived in hong kong and most of the cheap fruit and veg comes from china. Other expats warned me to steer clear where possible. The chinese have very poor standards when it comes to food quality. All that green and oolong tea must be a great help.
Bit confused!? Didn’t realise middle class china was now #big in japan!
You’re right! Our mistake, corrected now.
We should do more to support the growhouse industry in Ireland.
Chinese hydroponic technology has demonstrated the massive production capacity of small houses and apartments across the state to grow tonnes of foliage indoors in urban areas.
Landlords seem determined to obstruct this important SME sector.
What do the Chinese call their good china ?
Delph
They’re just realising the export potential to China now? They should have been getting this in gear a decade ago. Ditto for Russia and India.
@conventional. Very true. Getting help, even correct stats and advice from any of our govt agencies, or those sponsored by govt, is still difficult if one wishes to trade with both these nations. Not to mention the absolute lack of real trading experience our Govt ‘export and trading bodies’ offer. Pure spin is all you get straight from each embassy trade attachés marketing file and then nothing!! Very infuriating.
Maddning isn’t it? A cave-dweller could have predicted this 10 years ago and yet our ‘experts in the field’ are the last to cotton on. More wasted opportunities. Wait until the Brits, Germans and basically everyone else gets in there first and then we start to take some notice. Ever the followers, never the leaders….
Think of all the chinese people with their tayto and mi-wadi drinkin barrys tea
Watch out for Bertie’s & Cyrprian bradys greasy mitts in all this with their ‘Ireland China Co-operation Council’ (ICCC) .
For what? McDonnell’s and BMW’s
Dairy.
The Chinese keep putting lead & arsenic on their milk for some odd reason
Melamine I think
Jewellery/ Fashion. Alcohol and chocolate. Not a bad shopping list if you can afford it.
KFC, McDonalds and BMWs are already big in China. Just remember, whatever you export to them will be copied and marketed without you inside a year…
Anyone in the market for a good Rolox? Picked up a nice one in Zhangjiagang earlier this year!
Back to us?!
Coolmore have been working with the Chinese for the last few years to help set up a racehorse breeding operation in China’s new multi billion dollar equine centre in Tianjin. It’s areas like this where we are world leaders that we really need to exploit.
Meanwhile the Chinese working class are just hungry
Yum yum pigs bum cabbage and potatoes
What Irish made goods? O’Neills jerseys?
Coddle
with fried lice
Spuds
Lactel a French company has opened shops in major Chinese cities since Summer 2013, selling quality milk at premium prices. there’s an important demand there following local bad milk scandals since 2008. As the Chinese economy pushes up the standard of living, surely the Minister could have pragmatically promoted Irish Dairy products.
have your say