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Ireland has a family-based dairy industry with an emphasis on safety and harmony with nature. In 2015, Ireland beat out New Zealand to become the second-largest supplier of infant milk powder to China. Many Chinese friends ask me: "What makes Irish dairy products stand apart from those of other countries?"Well, Ireland is a natural location for the dairy industry. It has a mild climate and it’s covered in green grass, which means animals feed on natural sources, and are outdoors 90 percent of the year.
If you look at a map of Europe, Ireland is on the very edge of the continent. Our air and water doesn’t come from the east, from industrialized Europe. The grass-based nature of Ireland’s pastures is very important. The regulatory control of the industry is very tight. Our farmers do not try to escape regulation because everybody values our reputation as being a producer of top quality and safe food.
In 2014, Chinese government inspectors came to Ireland and they inspected our dairy industry. They gave top marks to Ireland. This has boosted our reputation in China, especially among Chinese parents in regard to infant milk powder. Chinese consumers are increasingly aware that Ireland is the perfect source for top quality, safe dairy products. China is now Ireland’s second-largest dairy market in the world.
Irish food and beverage exports to China have also been growing from 100 million euros in 2010 to 850 million euros in 2016. Having said that, I want you to know that cooperation is a two-way street. In recent years, there has been a sharp increase in Chinese investment in Ireland. I am especially looking at two sectors where Ireland offers a very excellent platform for Chinese corporations to invest. The first one is ICT, which means information and communications technology. Nine of the world’s top 10 ICT corporations have already invested in Ireland. There is a growing number of Chinese corporations investing in Ireland’s ICT.
Secondly, financial services. Ireland is one of the largest financial centers in the European Union. More than half of all commercial aircraft leased in the world today are leased from Ireland. There are many other areas of banking and financial services that we believe will be increasingly attractive to Chinese companies.