IEA says exports to Asia could rise by €10bn if the right action is taken

IRELAND can increase the value of its exports to Asia by €10 billion per annum inside five years if current plans are fully implemented, the Irish Exporters’ Association (IEA) claims.

Currently, 4% of Ireland’s total exports go to Asia, but launching its Asia Trade Strategy 2011-2015 blueprint yesterday, the IEA said it is critically important for that amount to climb to 10% over the next five years.

IEA chairman Colin Lawlor said that Ireland and Irish exporters “must aim high, much higher than in the past”.

“By setting this target as a key goal we plan to drive state policy and the necessary action to achieve the 10% target. In this way we can help to position Ireland to benefit from our strong trading relationship with Asia over the rest of the decade,” he added.

Mr Lawlor warned that the Asia Trade agenda is an ambitious one that cannot be achieved overnight.

“We believe, however, that a concerted effort from Government, the state agencies and industry will be required over the coming five years to deliver a solid future for Ireland in the critical Asian markets,” he added.

In its Asia strategy, the IEA is calling for more Government trade missions to the continent, closer work with the Asian diaspora in Ireland, a greater inclusion of Asian culture in the Irish education system and an expansion of internship programmes for students.

“We must recognise the reality that Asia offers a competitive edge rather than mere competition and, to that end, business should be educated on Asia’s opportunities and potential; particularly in relation to the impact of globalisation and the strategic imperative to at least consider Asia in corporate strategy development,” the association said.

“In-market presence should — at the very least — match that of the EU and US regions and there should be a focus on additional incubator and trade support in the priority markets.”