Terence Flanagan (Dublin North East, Fine Gael)
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Question 307: To ask the Minister for Jobs, Enterprise and Innovation his views on his recent visit to China and the deals done; his further views on the future for the relationship between the two countries; and if he will make a statement on the matter. [21864/12]

Richard Bruton (Dublin North Central, Fine Gael)
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In March of this year, An Taoiseach Enda Kenny and I led a seven day trade and investment mission to China. The Mission I led incorporated a seven day programme covering Hong Kong, Shenzhen, Shanghai, and Beijing. Some 130 Executives from 90 companies accompanied the delegation. During the Mission itself, An Taoiseach and I witnessed significant contract signings from 14 companies totalling more than €35m at business events organised by Enterprise Ireland. All together, these business events were attended by more than 900 Irish company representatives and their Chinese customers and partners and the contracts signed covered a wide range of sectors including: clean technologies, mobile software, international services, healthcare, consumer products, education and industrial technologies.

In addition to these signings, a number of significant Memorandums of Understanding were signed between Irish companies and their Chinese counterparts. These are essential building blocks in developing business in China. These covered areas such as International Education, Financial and International Services. It is expected that these signings will also contribute significantly to future export growth for Irish companies. In addition, Enterprise Ireland signed an MOU with their Chinese counterparts (CCPIT), which will see enhanced cooperation and a focus on working closer together on sectors of mutual interest.

Over the course of the trade and investment mission, IDA Ireland met with 16 companies and financial institutions. China is a key strategic focus for securing new sources of Foreign Direct Investment to Ireland over the medium to long term. There are, however, some short term investments to be won and IDA expects to secure a number of investments over the coming months. IDA Ireland signed a Memorandum of Understanding with China's ICBC Financial Leasing, a global leader in aircraft leasing and part of ICBC, the world's largest bank. This means that IDA Ireland is now partnered in China with ICBC, which has an unrivalled client base and network. The key focus for IDA will be to build on the momentum generated by the Mission and to capitalise on the increasing awareness of Ireland as both a trading partner and a potential location for FDI to Ireland.

China is central to Ireland's Asian trade strategy. Significant opportunities for Irish business exist in areas like ICT and life-sciences as well as the tourism, farming & food sectors. Contacts made during the mission with education, banking and legal sectors open the prospect of valuable new channels of training and other services exports. The Trade Mission in March was a very important step in growing closer ties and contacts with our Chinese counterparts and that is given physical form with the agreement of both countries to enter in to a strategic partnership for mutually beneficial co-operation.