Mr. Kevin Sherry:

With regard to the resources we have available in the Asia Pacific region, even though like any agency we have reduced our resources overall, we have actually increased them in the Asia Pacific region. We have allocated an additional ten staff in the region in the past 36 months. We also have a resource in Ireland, the high growth market team, which is focused on assisting companies to prepare for tackling these markets. We have eight offices and 39 staff in these markets. We also have a network of what we call pathfinders, or trade consultants, which represent a variable cost to us. They have specific expertise in certain sectors and we support companies to utilise them.

The market in the Asia Pacific region is growing. Exports to the region have grown by 70% in the past four years. The number of client companies which are exporting to it is approximately 620, a 15% increase in the same period. It is a region that requires a very sharp focus because while it is big and has strong growth rates, the timescale to secure business in the market is longer than in other established markets. The committing of boots on the ground is critical, not just by Enterprise Ireland but also by companies.

It is not a case of either-or, that we go after the market in the Asia Pacific region and not other established markets. The United States and Europe are very important markets. We were very clear that we would not take resources from these established markets and place them in high growth markets; they had to be additional resources. Today, we have an international education trade mission to China led by the Minister, Deputy Richard Bruton. Next month we will have a trade mission to China and Japan. The Minister of State, Deputy Eoghan Murphy, has returned from a trade mission to attract investment in the financial services sector. It is a constant focus for us in terms of trade missions and activities. Obviously, high level missions led by Ministers are particularly important in these regions, where government to government interaction is so important, but that is not to take away from other markets. Last year the growth rate among Irish indigenous companies exporting to the United States was 27%. It is about focusing on both and not a case of either-or.

On foreign direct investment, as part of our activities in the market Enterprise Ireland has responsibility for the food sector and our trade missions to the Asia Pacific region have been partly focused on food products. Recently the Minister for Agriculture, Food and the Marine, Deputy Michael Creed, was in the region on a food and agri-tech mission. Foreign direct investment is a key part of this activity. The Chinese are very interested in baby infant formula because they had a big issue and scares associated with it in terms of the quality of product from their own producers. My colleague from IDA Ireland, Ms Buckley, may also want to comment on the foreign direct investment aspect.