Martin confident that Chinese investment in Ireland will grow

BILATERAL RELATIONS between China and Ireland are warm and positive, Minister for Foreign Affairs Micheál Martin said yesterday…

BILATERAL RELATIONS between China and Ireland are warm and positive, Minister for Foreign Affairs Micheál Martin said yesterday after meeting senior Chinese leaders in Beijing, adding that he was confident that Chinese investment in Ireland would soon start to grow.

“There needs to be a committed engagement with China to build up a long-term relationship. There was a strong discussion on China-EU relations, and the Chinese see Ireland as a sympathetic voice on issues,” said Mr Martin after a lengthy meeting with his counterpart, Yang Jiechi.

He also met vice-premier Li Keqiang, a rising star in the Chinese Communist Party firmament, tipped to replace Wen Jiabao as premier at the next succession, expected in two years’ time.

The main focus of the five-day visit has been trade. “The political relationship is a key backdrop to doing business in China. I found genuine warmth and respect,” he said.

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When Mr Martin turned to the issues which traditionally hamper bilateral relations between China and most countries – human rights and Tibet – Mr Yang said China had made progress on human rights but that no one was perfect, and that this discussion should take place in an environment of mutual respect.

After 10 rounds of talks with representatives of Tibetan spiritual leader the Dalai Lama, the door remained open, but Mr Yang said the issue was complicated. Mr Martin said he felt there was a willingness to share perspectives on these issues.

On Burma and North Korea, both neighbours and allies of China, Mr Yang said China was willing to help but not to interfere.

He said a nuclear swap deal which Iran signed this month with Turkey and Brazil should not be dismissed as a way out of the nuclear crisis there.

The Minister pitched Ireland’s strengths to the Chinese, such as its agricultural expertise and biotech, which is a big issue in a country where food safety is of such importance following a number of food scares.

While much of the traditional focus in China has been on foreign firms taking advantage of cheap manufacturing here, China’s rise means that firms will be looking abroad to locate in future.

The low corporation tax and the ease of doing business in Ireland would be a major draw for Chinese companies looking abroad, he said.

“They indicated that Chinese companies will grow overseas and that Ireland is a gateway. We met companies in that regard, and we will see more Chinese investment in Ireland,” he said.

“We need to do more on foreign direct investment (FDI) to identify what issues Chinese companies coming to Ireland will look at. We need to visit more, because if you don’t engage you don’t get a return,” he said.

A Shenzhen-based battery-maker turned eco-friendly car manufacturer after a big investment from US investment wizard Warren Buffett is looking at Ireland as a place to invest.

The visit will have taken him to Hong Kong, Shenzhen, Beijing, Shanghai – including a visit to Ireland’s Expo pavilion — and Dalian by the time it concludes.