Mr. Kevin Sherry:

We do not ignore the market. We service it from Hong Kong. Our territory director visits there regularly. We have a pathfinder in place. We have 32 offices around the world. Wherever possible, we co-locate with either the Department of Foreign Affairs and Trade, through the consulate or embassy, or another agency. We obviously have to make decisions about where we locate the offices, which is primarily driven by a combination of factors. Those factors are, first, the market opportunity and the capability of Irish companies to service the market opportunity in particular sectors. The second is the client demand for that particular market. The third is, increasingly, what we have tried to focus on in terms of the development of our network, in that there has been a change in terms of the requirements of our clients from just a geographic presence to specific domain expertise. We referred previously to the specific expertise we require as a team and as an organisation to service the needs of our clients, which is more about the specific sector expertise. We spoke earlier about the pharmaceutical sector with IDA Ireland. Whether it is medical devices, telecommunications or other areas such as financial services, our clients are looking for us to have specific expertise in those particular areas - to have the Rolodex and the networks and to understand the market dynamics in those particular sectors in order that we can help them access the contacts in those markets, and also to work with them in helping them to develop market strategies where they can penetrate those markets.

The way we operate is that, increasingly, we have moved to having a network where the specialist expertise that we cannot put in every office is developed within certain offices in the region that can provide the expertise across the region. In parallel with that what we have done is build out our external network of pathfinders who effectively are trade consultants around the globe and we have expanded the network with people who have specific expertise that can assist our clients when required and that we would network them to those individuals. We constantly review our overseas office network and make decisions based on those criteria about where we should locate offices. In some cases that will result in us closing offices, which we have done. To give some examples of that, we have closed an office in Glasgow and Kuala Lumpur in Malaysia. We moved our office in India from Delhi to Mumbai. We have also opened other offices. We opened an office in Austin, Texas and in-----