China
Exploring Trade and Investment Opportunities in China-Ireland Relations
Irish businesses have opportunities in China’s evolving market, particularly in pharmaceuticals, food, and technology. Diplomatic ties, strengthened since 1979, support trade, educational exchanges, and tourism, with bilateral trade surpassing €21 billion in 2024 amid Ireland’s unique diplomatic stance.
With China’s evolving market landscape and ongoing economic reforms, Irish businesses have a unique opportunity to expand their presence. Sectors such as pharmaceuticals, food and agriculture, and technology present promising growth prospects.
China and Ireland established diplomatic relations in 1979, and their ties have deepened over the decades through economic, cultural, and political cooperation. A significant milestone in their relationship was the establishment of the Strategic Partnership for Mutually Beneficial Cooperation in 2012, which ushered in a decade of stable and enduring collaboration. This strong foundation has allowed both countries to maintain constructive engagement even as global dynamics shift.
Ireland’s neutral stance has set it apart from the EU’s increasingly cautious approach toward China, particularly amid growing tensions between Brussels and Beijing. While Dublin declared closer alignment in 2023 with the EU’s “de-risking” strategy, it continues to recognize China as a key global player and fundamental economic partner. Ireland’s appreciation for China’s economic and social development achievements underscores its pragmatic approach to bilateral relations.
Cultural and educational exchanges have also expanded, with a growing number of Chinese students studying in Ireland and Irish institutions strengthening ties with China. Tourism between the two nations has increased, and initiatives such as Confucius Institutes in Ireland have further deepened mutual understanding.
China is one of Ireland’s largest trade partners. According to data from Ireland’s Central Statistics Office (CSO), bilateral trade in goods exceeding €21 billion (US$22 billion) in 2024, an increase of 8.1 percent from 2023.
China was Ireland’s sixth-largest export market and fifth-largest source of imports in 2024. Total goods exports from Ireland reached €9.5 billion (US$10 billion) in value in 2024, up 6.1 percent year-on-year, while total goods imports reached €11.8 billion (US$12.4 billion), up 9.3 percent year-on-year.
| This article was first published by China Briefing , which is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in in China, Hong Kong, Vietnam, Singapore, and India . Readers may write to info@dezshira.com for more support. |
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