Kenny In China To Increase Economic Ties

26 March 2012 14:00 - Victoria Wedderburn

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Kenny In China To Increase Economic Ties

Irish Prime Minister Edna Kenny is in China this week as part of a four day official visit. Considering the situation in Ireland, as its economy recovers from the European debt crisis, trade and cooperation between China and Ireland will be high on the agenda. Ireland will be looking to China to kick-start its economic recovery. The Taoiseach said, “Ireland’s economy is fundamentally sound; our public finances have been stabilised, our exports are at record levels, and foreign direct investment is booming. The business world knows that Ireland is recovering well.”

Kenny’s visit to China follows Chinese Vice President Xi Jinping’s recent trip to Ireland where he called for greater economic cooperation between the two countries. During this visit Xi Jinping stated that China had become Ireland’s biggest trading partner in Asia and he noted the potential for greater bilateral trade. Irish exports to China hit $4 billion in 2011, up 6% from 2010.

Kenny said, “Ireland has advantages which China can benefit from, and China represents a vast market for Irish goods and services. Our similarities are greater than our differences and we have in many respects a similar business culture, centred on enterprise and innovation.” He added, “Both Ireland and China have moved rapidly toward a knowledge-based economy built on innovation and technology and our companies have all the elements for working more closely together.”

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Related Links:
• Government of Ireland
Official website
• Economic Calendar
For scheduled economic events
• Latest News
For regular news updates
• Taoiseach
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