IBEC welcomes positive response to Asian plans

The business body, IBEC, has welcomed what it calls the positive response from the Minister for Trade and Enterprise Micheal Martin to its proposed action plan for developing markets in Asia.

The group said there is huge potential for Irish businesses to expand into the world's fastest-growing economies in areas such as medical devices and financial services.

Sales of IT, pharmaceutical and food and drink products are already growing.

However, IBEC's Pat Ivory has said that there are a number of barriers to progress that need to be tackled with help from the government: "We're looking for improved information on Asian markets so that Irish companies can take greater opportunity of trade there.

"We would like to see new direct flights to the region because of the level of trade that's currently going on, and the potential to grow it. And we'd like to see technical regulation be harmonised, in addition to tackling the non-tariff barriers; bureaucracy, customs and lack of intellectual property protection," he said.