John Deasy (Waterford, Fine Gael)
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135. To ask the Tánaiste and Minister for Foreign Affairs and Trade the level of trade with Vietnam in each of the past five years. [25905/13]

Joe Costello (Dublin Central, Labour)
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I visited Vietnam in October, 2012 to see the impact of the aid programme, to promote trade between our two countries and to support a number of Irish companies working in Vietnam. Ireland’s trade with Vietnam over the past five years has increased significantly, as outlined in the following table, based on figures from the Central Statistics Office:

Between 2008 and 2011, the total value of trade between Ireland and Vietnam increased by over 21%, from €155 million to €188 million. Exports from Ireland have grown at a faster rate and, for the first time over this period, there was an overall trade balance in Ireland’s favour in 2011. While figures on the services side for 2012 are not yet available, it is expected that there will be a further increase on the 2011 levels. There was a significant increase in total trade in goods in 2012, to €177 million.

Vietnam is a country in transition. Our bilateral relationship focuses on the needs of the poorest communities and on providing economic expertise and developing stronger bilateral economic links. The trade figures demonstrate that we are making real progress in building stronger economic links with Vietnam, and that it has the potential to become a key economic partner for Ireland.