China and Ireland are expected to more than double two-way trade by 2010, according to senior Irish trade officials.

"On the basis of figures this year, we will probably exceed the target set by top officials (which is to double trade volume by 2010)", said Micheal Martin, Irish Minister for Enterprise, Trade and Employment.

Imports and exports between the two countries totalled US$4.6 billion last year, according to statistics from China's Ministry of Commerce. There was much growth in the first few months of this year.

China's imports from Ireland were US$1.4 billion in 2005, worth far less than exports to Ireland.

"So we expect to export more (to China) in the future," Martin said.

He said there were many opportunities for Irish companies in such things as software, telecommunications, aviation services, electronics and engineering. He said food, international consultancy and services in areas like training and international finance also offered scope for firms to cash in on.

In order to deepen trade relations between the two countries, governments and trade-promotion organizations are increasing delegation exchanges and trade shows.

"I am delighted to see that Irish companies are establishing operations in China," Martin said. There are now 60 Irish companies with a presence in the China market.

"We are seeing that more are coming to this dynamic market," he added.

The minister also hoped more Chinese companies would invest in Ireland, which they can use as a stepping stone to other parts of Europe.

He said Ireland is the only English-speaking member of the Euro Zone and has the lowest corporate taxes in the European Union.

The minister opened service centres for Enterprise Ireland, an organization to help Irish-owned businesses invest abroad, in Beijing and Shanghai respectively. The centres are designed to give support to Irish companies exploring business opportunities and partnerships in China.

Source: China Daily