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Ireland-Hong Kong relations have received a tremendous boost since the Republic of Ireland opened a full Consulate-General in the city last year, the Hong Kong SAR Government's most senior representative in Europe has said.
The Special Representative for Hong Kong Economic and Trade Affairs to the European Union, Ms Linda Lai, said that Consul General Mr Peter Ryan, who took up his duties in August, has quickly developed new trade and investment linkages between Ireland and Hong Kong, working closely with Hong Kong's dynamic Irish community and business organisations.
Ms Lai spoke at a luncheon to celebrate the Year of the Ram, hosted by the Hong Kong Economic and Trade Office, Brussels (Brussels ETO) in Dublin on March 6 with the support of the Ireland Hong Kong Business Forum and the Hong Kong Trade Development Council.
The 100 VIP guests included Minister of State, Departments of Finance, Public Expenditure and Reform and the Department of the Taoiseach (Prime Minister), Mr Simon Harris, TD, as well as government officials, business and financial leaders, representatives of business organisations, senior academics and media representatives.
"Earlier last year, when Minister for Public Expenditure and Reform, Mr Brendan Howlin, visited Hong Kong for Saint Patrick's Day, he said he expected to see a more frequent flow of Irish ministerial visits to Hong Kong in the period ahead," Ms Lai said.
"This has indeed proved to be the case. We were delighted to welcome Minister Harris to Hong Kong in January, where he addressed our Asian Financial Forum and met with our Financial Secretary and our Secretary for Financial Services and the Treasury. This makes a very good start of further co-operation between Ireland and Hong Kong in 2015."
Ms Lai said that she was pleased to announce that keeping up this momentum, the Chief Secretary for Administration, Mrs Carrie Lam, would be visiting Ireland later this year. Since Ireland is the technology and financial services gateway to the EU, the ICT industries and finance and business generally would be the main focus of the visit.
Ms Lai remarked that Hong Kong's status as an international financial, trade and transportation centre enjoys the full support of Central Government. The latest example is the launch last November of the Shanghai-Hong Kong Stock Connect initiative, which represents one of the biggest developments for foreign investors wishing to access the Mainland Chinese stock market.
"We are pleased to note that the Irish fund industry is already tapping into Shanghai-Hong Kong Stock Connect and rolling out innovative new fund products such as RQFII and UCITS," she said.
Minister of State Simon Harris told guests that during his visit to Hong Kong in January, he was struck by the opportunities that exist for Irish companies in Hong Kong.
"The opening of the Consulate has generated positive momentum which we hope will encourage more business engagement between our two communities."
He said that building and enhancing links between Ireland and Hong Kong in the financial services sector has a definite potential for further growth, and announced that the Irish Government will next week launch a new strategy to promote the international financial services sector in Ireland.
"I see Hong Kong - a key financial centre in Asia - as an important partner in the future implementation of this strategy. It is in both Hong Kong and Ireland's interest to develop our collaboration.
"The internationalisation of the fund industry in China represents the largest opportunity within fund management this decade and next, and Ireland is committed to the opportunities presented by this for the Irish funds industry. When I was in Hong Kong I had an opportunity to hear about recent developments in this area and the role of Hong Kong in this process.
"I am pleased to meet again with representatives of Hong Kong Exchange who will travel to Ireland next week along with their counterparts in the China Securities Regulatory Commission as part of a roadshow to inform interested parties in Ireland about the Shanghai-Hong Kong Stock Connect."
Mr Harris added that the food sector was among other key sectors where Ireland is also looking to build traction in Hong Kong, and one where links between the two places are growing at great pace.
"Agri-food exports to Hong Kong have experienced huge growth, increasing by 70 per cent in the last two years, and continuing to grow strongly," he said.
"Indeed I look forward to discussing this and other points with Carrie Lam when she travels here."
Other speakers at the luncheon included Chair, Ireland Hong Kong Business Forum, Mr Liam Kavanagh, who made the welcoming address, and the Regional Director, Europe, Hong Kong Trade Development Council, Mr Stephen Wong.
The event was further enlivened by a performance by young Hong Kong-born and educated marimba and percussion soloist, Ms Fiona Foo Pui-yee.
Ends/Saturday, March 7, 2015
Issued at HKT 03:41
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