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Ireland wants to be the Most Ideal Trading Partner of China in EU

On May 31, at the 2017 Beijing International Fair for Trade in Services, Irish Theme Day Forum, Paul Kavanagh, the Irish ambassador to China, said, many advantages of Ireland in the field of service trade make Ireland to be “the most ideal trading partner of China in EU." For the global and China's investors, Ireland is the ideal gateway into EU and the euro area.

 

In the past eight months, six Irish ministers visited China, and in 2016, 22 senior officers of China visited Ireland. Two countries have established friendly and close bilateral relations, Paul Kavanagh said. The bilateral relations of two countries in trade, investment, education, science and technology, financial services, food and agriculture are becoming closer and closer.

 

At the same time, Paul Kavanagh said that Ireland and China are the ideal partners because Ireland's advantageous area perfectly matches the prior developmental areas of "the 13th Five-Year" Plan(2016-2020) of China, these areas are: innovation, entrepreneurship, technology, research and development, higher education, higher services, food safety and so on. According to China's official data, the growth rate of bilateral trade between Ireland and China is higher than China and other EU countries'. In 2013, the two-way trade between two countries had just reached 7 billion Euros. According to preliminary data, two-way trade amount is expected to exceed 12 billion Euros in 2016, and it is expected to exceed 14 billion Euros in 2017. This figure doubled in four years. In addition, Ireland is also China's fourth largest investment destination in the EU. The economic relationship between Ireland and China are flourishing.

 

In addition, for Chinese companies, Chinese investors and Chinese entities who want to have a service base in the EU; Ireland will be more attractive after Britain exits from the EU. After Brexit takes effect, Ireland will become the only country that speaks English in the European Union, the euro area as well as the single market in Europe. Ireland is becoming China's ideal investment platform in EU and the euro area - the single market with 450 million high-income consumers. With its higher education, dynamic and flexible workforce and a stable and friendly taxation system that helps enterprises develop; Ireland will be China's ideal service partner in the EU.