China International Import Expo important global event, says Irish minister

The upcoming China International Import Expo is an important global event that demonstrates China’s intention to further open its market and to promote international trade and cooperation, said Heather Humphrey, Irish Minister for Business, Enterprise and Innovation.

The minister made the remarks in an email received by Xinhua on Tuesday while offering comments on the first edition of the expo which is to be held in China’s eastern coastal city of Shanghai on November 5-10.

“For an open, global, trading economy this offers a valuable opportunity for Irish companies to grow their appreciation for the opportunities that exist in the Chinese marketplace,” she said.

“I plan to lead a significant trade mission from Ireland to China and to attend the China International Import Expo in November. I believe this will be a valuable opportunity to further deepen Ireland’s trade cooperation with China.”

More than 20 Irish companies have so far confirmed their participation.

“Overall trade trends between Ireland and China are indeed very positive,” Humphrey said. “Two-way trade between Ireland and China doubled in the years from 2013 to 2017, reaching over 15 billion euros last year.”

The 2017 Ireland-China trade statistics quoted by the minister included the Chinese mainland, Hong Kong and Macao, which are higher than the official statistics announced by the Chinese side that only cover the Chinese mainland.

“Our ambition is to build upon this success in the years ahead,” Humphrey said.

According to the minister, Enterprise Ireland, an Irish state agency responsible for the development and growth of Irish companies in world markets, intends to double its client companies’ exports to China by 2020.

Enterprise Ireland is a government body affiliated to the Department of Business, Enterprise and Innovation headed by Humphrey. Enterprise Ireland has more than 300 client companies exporting to China and China is the seventh-largest market for Enterprise Ireland client exports, according to Humphrey.

The Chinese government prizes innovation, green tech, research and technology for future development and these are areas where Irish companies excel and are rapidly expanding, the minister said.

“China’s One Belt, One Road Initiative is opening up the potential for even stronger trade links and connectivity between Ireland and China,” Humphrey said.

“We welcome the initiative which is complementary to much of our existing cooperation in the area of trade and investment.”

The minister believed the recent commencement of direct flights between the Irish capital Dublin and Beijing and Hong Kong will foster growing trade, tourism, education and cultural links.

On June 12, China’s Hainan Airlines opened direct flights between Beijing and Dublin shortly after the Hong Kongregistered Cathay Pacific opened a direct flight route between Hong Kong and Dublin. Prior to these, there were no direct flight services between Ireland and China.