Ireland China Trade Agreements

Ireland and China Trade Agreements: A Boost for the Irish Economy

With Ireland being one of the fastest-growing economies in the European Union, the country`s trade relations with China have become increasingly important in recent years. In fact, the two countries signed a number of trade agreements in 2018 that are expected to give a significant boost to Ireland`s economy and strengthen its position as a global player.

One of the most important agreements signed between Ireland and China was the Bilateral Investment Treaty (BIT), which provides mutual protection for investments made by companies from both countries. This agreement will help to facilitate increased investment between the two countries, as well as promote economic growth and job creation in Ireland.

In addition to the BIT, Ireland and China also signed a number of Memorandums of Understanding (MOUs) covering a range of areas including agriculture, education, and tourism. These MOUs will help to facilitate greater cooperation and collaboration between Ireland and China in these areas, as well as provide a framework for future cooperation.

One of the key areas of focus for the trade agreements between Ireland and China is the agri-food sector. Ireland is already an important supplier of beef and dairy products to China, and the new trade agreements are expected to further increase demand for Irish products in the Chinese market. This is particularly important for Ireland`s agricultural sector, which accounts for a significant portion of the country`s exports.

The new trade agreements are also expected to benefit Ireland`s tourism industry, which has seen significant growth in recent years. China is one of the fastest-growing outbound tourism markets in the world, and the MOUs signed between Ireland and China will help to promote Ireland as a destination for Chinese tourists.

Overall, the trade agreements signed between Ireland and China represent a significant opportunity for Ireland to expand its trade relations with one of the world`s largest economies. The agreements are expected to provide a significant boost to Ireland`s economy, particularly in the agri-food and tourism sectors, and strengthen the country`s position as a global player. With the ongoing growth of the Chinese economy, Ireland`s relationship with China is likely to become even more important in the years ahead.

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