An analysis of the economic bilateral relations between Ireland and China

Cathal Hannon

Abstract


The purpose of this article is to analyse the salient features and recent developments in the Sino-Irish bilateral economic relationship. Both trade and the investment climate will be discussed. We are now in a transitional phase as economies readjust to the dynamics of world trade and fluctuating investment patterns.

Sectors considered to possess intrinsic opportunities in the Chinese market have been highlighted by the Irish government. These 6 key industries include: financial services, ITC, education, education, agriculture, food and drink. Of particular importance is the food sector. Ireland’s reputation in terms of food production and quality is exemplary. With the lifting of the quota in the beef and dairy sectors, a whole range of opportunities became apparent and this bodes well for Irish firms. The development of the service industry will also attract much attention.

The nature of Irish FDI will be discussed and how investment destined for China is drastically different in form. Previous analysis conducted indicates that traditionally, Irish outward FDI was disproportionately horizontal and largely in the non-traded sector. However, Irish FDI in China is predominantly in the traded sector and marginally horizontal. Market size continues to be one of the biggest attractions for China.

Some of the incentives and disincentives to investment will be dealt with. Intellectual property rights and contract law violations pose some of the biggest location challenges. Predictions for the future remain positive. There is much to be gained from partnership, from the perspective of Ireland at least.


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ISSN : 2251-1555