China offers Irish companies major opportunities, Dublin conference told

CHINA PRESENTS enormous opportunities for Irish businesses, a conference in Dublin heard yesterday.

More than 350 people from the Chinese and Irish business communities attended the Ireland-China Economic Trade Co-operation Forum, part of a three-day trade mission organised by a division of the China Chamber of Commerce.

Representatives from more than 80 Chinese companies have travelled to Ireland as part of the delegation, which is also visiting other European countries including France and Belgium.

Among the Chinese companies in attendance were banks and financial institutions, aviation firms and energy companies.According to Brendan Waldron, chairman of the Ireland China Association, some of the Chinese banks in attendance are actively looking at establishing back offices in Ireland with a view to making Ireland their European base.

The potential of Ireland’s position as a gateway to Europe was one of the key messages promoted by speakers at yesterday’s conference.

“Ireland is not simply a market of five million people. It needs to be seen as part of the EU, a market of 500 million people,” IDA Ireland’s Dermot Clohessy told delegates.

He stressed the importance of the existing double taxation agreement between Ireland and China as a key facilitator of trade links between the two countries.

Latest figures show that Irish exports to China increased by 14.3 per cent in the first three quarters of 2009.