| Fast Development in Sino-Irish Trade and Economic Cooperation |
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| Friday,May 09,2008 Posted: 00:21 BJT(1621 GMT) |
| From:ireland Article type:Original |
In recently years, the trade and economic relations between China and Ireland have been developing rapidly. In the year 2005, China replaced Japan as the biggest trading partner of Ireland in Asia. According to the statistics from China, in 2007, Ireland was China’s 12th biggest trading nation among EU27.
The China-Ireland bilateral trade volume only amounted to USD 5.15 million when China and Ireland established diplomatic relations in 1979, and it increased to USD 419 million in the year 1999. Trade has increased even faster in recent years. According to the statistics of China, in 2007, the trade volume between China and Ireland reached USD 6.4 billion at a growth rate of 16.5% compared to the previous year. According to the statistics of CSO in Ireland, the export volume from Ireland to China grew by 45.3% in 2007.
In 2007, China introduced 30 Irish investment projects with a total contractual value of USD 228 million, and actual input of USD 61 million. By the end of 2007, the total number of Ireland invested projects reached 145 with a total contractual value of USD 490 million, and actual input of USD 144 million. In the meanwhile, a number of Chinese companies have made investments in Ireland.
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