Seoul
(The Korea Herald/ANN) - The message from Ireland is that its economy is back
to growth. But for that to continue Ireland is looking toward Asia due to the
potential for growing its exports and attracting investments.
Ireland's Deputy Prime Minister and Minister
for Foreign Affairs and Trade Eamon Gilmore was in Seoul last week to address
the 5th annual Asia Pacific Ireland Business Forum while also meeting with
Korean business partners and opening the 16th Asian Gaelic Games in Suwon.
"We're on the road to recovery," he
told The Korea Herald.
The Irish economy grew in the first two
quarters of this year with the second seeing 1.6 percent growth.
"It's modest but it's the first time
since 2007 that we had two successive quarters of growth so it’s good
news," said Gilmore.
The Irish food and beverage sector has
traditionally been a strong player in the Korean economy.
"We are a food producing country and we
are particularly keen to grow that sector and that sector is doing very
well," he said.
The IT sector is also showing promise due to
the potential of growth in the gaming industry.
"We also see potential for growth in
areas like medical technologies, pharmaceuticals, addressing the link between
the medical technologies and advances in medicine, particularly care for (the)
elderly."
Bilateral trade reached $10.1 billion last
year fuelled by the imports of IT, food and beverages, medical equipment and
supplies, and computers from Ireland. On the other hand, Korea exported $381
million worth of semiconductors, railroad cars, monitors and synthetic
chemicals.
Gilmore is also out to promote Ireland's
educational sector for English as a second language.
"Ireland is English-speaking, part of
Europe, a member of the euro and it is probably not as well known in Asia and
it needs to be. Therefore we have a job to do promoting it as a location for
investment and as a location for English education."
Gilmore pointed out that Ireland is an ideal
place to learn the English language due to its strong reputation in the use of
the English language and communication.
Investments into both countries are virtually
equal, totaling a combined $5 billion.
"Korea is a very important part of our
ambition," he said. "When you look at the size of this economy, when
you look at its market, the potential for Korean investment in Ireland is very
big and that's what we are promoting."
Concerning Northern Ireland, Gilmore explained
that the political and diplomatic process in engaging with its neighbors has been
a success.
"Over the course of a decade and a half
now, we have built a peace process with Northern Ireland and we have built a
relationship between Northern Ireland and the Republic of Ireland" built
on economic issues, he said.
The Irish experience is one of three models
that the Korean government looks at when examining the possibilities and
ramifications of reunification with North Korea, the others being the Chinese
model in handling Hong Kong, and Taiwan and Germany.
"First there is a political dialogue,
then a peace settlement so that there is no hostility which leads to a
structure that enables us to talk about practical economic cooperation,"
he noted.
"It works to the economic advantage of
both sides of the border."
Yoav Cerralbo in Seoul/The Korea Herald | ANN
Business & Investment Opportunities
YourVietnamExpert is a division of Saigon Business Corporation Pte Ltd, Incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Consulting, Investment and Management, focusing three main economic sectors: International PR; Healthcare & Wellness;and Tourism & Hospitality. We also propose Higher Education, as a bridge between educational structures and industries, by supporting international programs. Sign up with twitter to get news updates with @SaigonBusinessC. Thanks.
No comments:
Post a Comment