Irish exports to China up 63% in 2008

Trade figures released by the CSO today indicate that Irish goods exported to China and Hong Kong in January 2008 increased to €261m, an increase of 62.7% on exports for the same month of 2007.

IBEC Head of Trade and International Relations Pat Ivory said that this is an impressive performance by Irish exporters following on from record exports of €1.95bn to China and Hong Kong in 2007, particularly given the challenging trading conditions as a result of the continuing strength of the Euro against US dollar.

Mr. Ivory and EU business partners met with the EU Commission this week in Brussels ahead of the EU mission to China led by President Barroso and including nine EU Commissioners, beginning on the April 25.

It is hoped that the visit will start negotiations on a new EU-China high-level economic and trade agreement. Business raised the need to address the undervaluation of the Chinese Renminbi, which is damaging not only for the global economy, and particularly Europe, but also for China’s domestic interests.

Mr Ivory said: "The sustainability of China’s strong economic growth is impaired by inflation and excessive liquidity. Although China has made progress in streamlining its intellectual property legislation, effective enforcement of IP rights also remains highly problematic, particularly at regional and local level. In 2006, 79% of all counterfeit and pirated goods seized at EU borders came from China, compared with 54% in 2004.”