The Irish Exporters Association (IEA) has unveiled a business-to-business Asian trade forum that aims to promote trade between Ireland and Asian countries.
Only 8 per cent of Irish exports go to Asian markets but over the past three years there has been intensive promotion of Ireland in Asia as a place to do business with, which culminated this morning with the launch of the new forum.
"In June of 2003 it was estimated that the region now accounts for just over 8 per cent of Irish indigenous exports, amounting to somewhat over €315 million," the Minister for Trade and Commerce, Mr Michael Ahern, said today.
"While this is still a small percentage of total exports, it is well above the EU average . . . the Government welcomes this interest, and we will continue to develop and expand our presence and level of activity in Asia in line with the wishes of Irish exporters."
Trade between Ireland and India, for example, has increased consistently year on year up to 2002.
However, indications for 2003 however point to a decline, part of which is accounted for by global economic developments, particularly the weakness of the dollar.
In 2002, there were significant increases in Irish exports to India in the telecoms equipment, metal manufactures and industrial machinery sectors as well as manufactured articles and pharmaceuticals.