The number of Irish businesses operating in China is set to increase significantly in the coming years, the head of a leading financial advisory company has predicted.
According to Róisín Brennan, chief executive of IBI Corporate Finance, the "China Option" needs to be on the agenda for any ambitious company.
"The number of Irish companies doing business in China will continue to grow dramatically in the coming years. Already over 280 Irish companies are now doing business there - up from just 10 in 1999 - and the volume of trade undertaken between Ireland and China is growing dramatically also - up 19 per cent in 2006 alone (to almost euro six billion)."
Speaking at a seminar on merger and acquisition opportunities in China, Ms Brennan said that China was altering the way global business was conducted, as evidenced by the recent stock market volatility triggered by the China Stock Exchange.
She also predicted that Irish firms would increasingly outsource their production needs to the country.
