Ireland's export trade to China continues to boom and the most vibrant market in the world will remain a key target for Irish companies, according to the Minister for Enterprise, Trade and Employment, Micheál Martin. "Our two-way trade in 2006 surpassed the €5.5 billion mark," he said.

In his opening address to the "International Conference on China in the 21st Century: Culture, Politics, Business", at UCC yesterday, the Minister acknowledged China's input to the Irish economy as a key element in our continued economic growth.

While the trade balance was currently in China's favour, Mr Martin said the "factory of the world" met Ireland's need for raw materials, parts and components to feed our own manufacturing facilities.

"At the same time, I am even happier to acknowledge that Ireland's export trade to China continues to boom - in recent times even more steadily in relation to services exports."

He pointed out that Ireland's links with China had grown enormously in recent years through presidential and ministerial visits to both countries, through successive trade missions to China and through the establishment of an Asia Strategy, a process designed to expand Ireland's political, trade and economic links with the main Asian economies.

Zhang Xinsen, the Chinese ambassador to Ireland, said he hoped the conference would serve as a bridge to bring the two countries even closer.