Ireland is seeking to forge closer economic and trade ties with China, a market 300 times bigger than the island nation in terms of population.
Irish Deputy Prime Minister Mary Harney and a business delegation that included 50 firms, the largest trade mission from Ireland ever to visit Asia, concluded a 10-day visit to China yesterday.
"It is time for us to come to China," Harney said last week in Beijing. "The business delegation is very impressed with China's economic reform and they have enormous confidence in China's development."
An Intergovernmental Agreement on Co-operation in Science and Technology was signed by the Harney and Zhu Lilan, China's minister of science and technology, in Beijing on September 8.
Timoney Technology, a leading automotive and transport company in Ireland, signed a contract to transfer technology to Beijing Heavy Duty Truck Co. for the manufacturing of a new all-terrain, heavy-duty truck.
The contract was the first technology transfer contract between an Irish company and a Chinese company.
Two other IT giants, Baltimore Technology and Oniva, also signed co-operative agreements with Chinese software giant Neusoft Corp and leading e-commerce provider Sparkice.
In addition, co-operative programmes in education and technical training were launched last week in Beijing.
Harney said IT and education were the fields Ireland has advantages and expects to co-operate with China.
Ireland is one of the world's biggest exporters of software. Its education system is regarded as one of the best in Europe.
Among the business group, 23 were from the education sector, Harney said.
"China's expected entry into the World Trade Organization (WTO) and its strategy to develop its western areas will create great business opportunities for Irish companies," she said.
Irish companies can provide software, environmental, communications and energy technologies and engineering equipment and technology to help fuel China's massive infrastructure construction.
To help Irish companies smoothly enter the Chinese market, the Irish Government set up a business service centre last week in Shanghai to help companies deal with problems they meet in China and provide investment suggestions.
"If such a centre proves to be successful, we will consider opening similar centres in Beijing," Harney said.
Observers call Ireland a late comer to the Chinese market. A lot of foreign firms have established a firm foothold in China since the late 1970s.
Harney acknowledged that it was only two years ago that her country mapped out a strategy to shift more focus to Asia, particularly China.
"As a small country, Ireland exported mainly to the United Kingdom in the past, then to Europe since 1973 and recently to the United States," she said.
Harney encouraged Chinese companies to make Ireland a bridgehead to enter the European market.
Chinese companies will have national treatment in Ireland, she said, adding that there will be no limitation on withdrawal of investment and profit transfers.
Although Sino-Irish bilateral trade remains small, it is developing rapidly.
According to Irish statistics, exports from Ireland to China jumped by 57.5 percent last year to US$112 million while imports grew by 2.2 percent to US$617 million.
Ireland mainly imports electronic components and chemical products from China. Its exports to China include computers, integrated circuits and pharmaceutical products.
There are more than 70 Irish companies engaged in trade with the Chinese mainland and Hong Kong.
(Business Weekly)
