ireland asia business yearbook 2013

AsiaIrelandBUSINESSYEARBOOK

2013

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suppliers of building materials to the construction industry in Ireland. Since the merger the Group has become a leading international manufacturer and distributor of building materials, with 3,600 locations in thirty-four countries worldwide.

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The Ireland Asia Yearbook is published by Asia Mattersin association with Business and Leadership Ltd©Asia MattersEditor: Sorcha CorcoranProduction editor: Karina CorbettArt director: Michelle Gregan

Executive director: Martin [email protected]+353 87 2688805

Managing director: Sam [email protected]+ 353 1 6251425www.businessandleadership.com

Asia Matters is an independent and apolitical think tank, which wasestablished to bring enhanced partnership by Irish interest in the EUAsia interaction and relations. Based in Dublin, Asia Matters is headedby executive director Martin Murray and guided by an advisory councilunder chairman Alan Dukes, former minister for finance in Ireland.Asia Matters facilitates the development of EU Asia business andcultural relations through online and offline communications, andpublications and events, engaging a high-level peer community inbusiness and government sectors. Following the success of theinaugural EU Asia Top Economist Round Table on 25 May 2012 inDublin, Asia Matters will host the second EU Asia Top EconomistRound Table on 24 May 2013 in Dublin during Ireland's EU presidency,and the third EU Asia Top Economist Round Table on 27 September2013 in Tokyo, Japan.

Based in Dublin, Business & Leadership is Ireland’s leading businesspublisher. We specialise in creating unique, engaging and thoughtprovoking content for business leaders, and are the publishers of boththe official magazine of the Institute of Directors in Ireland, IrishDirector, and the global magazine of the IDA, Innovation IrelandReview. Our targeted online business news platform,www.businessandleadership.com, delivers business news andleadership insights to almost 60,000 business users each month. Asbilateral engagement increases, there is greater demand for marketinsight and intelligence into the opportunities across Asia and we aredelighted to partner with Asia Matters in the first Ireland Asia BusinessYearbook, bringing together key decision-makers in government andstate agencies and business leaders to share their insights,experience and knowledge.

Ireland Asia Business Yearbook 2013 3

CONTENTS

4 FOREWORDAn Taoiseach Enda Kenny TD

6 IRELAND OVERVIEWHaving improved its competitiveness,Ireland is aiming to attract Asianinvestment

8 ASIA OVERVIEWWhile the geography is vast and eachmarket is different, overall the regionis growing

10 NETWORKSEnterprise Ireland’s chief executiveFrank Ryan provides his insights

11 IRISH EXPORTSThe Irish Exporters Association istaking a practical approach togrowing exports in Asia

12 FDIChief executive of IDA Ireland BarryO’Leary outlines its Asian strategy

13 FOOD AND DRINKA huge opportunity for Ireland in Asia,says Bord Bia chief executive AidanCotter

14 TOURISMChief executive of Tourism IrelandNiall Gibbons highlights possibilitiesin China and India

16 CITY TWINNINGThe Lord Mayors of Dublin and Corktalk about their cities’ twinning withBeijing and Shanghai, respectively

18 FOREIGN AFFAIRSPat Breen TD, chairman of the JointCommittee on Foreign Affairs andTrade, discusses his visit to Japan

19 STRATEGYDirector general of IBEC DannyMcCoy believes Ireland can benefitfrom emerging trends in Asia

20 COUNTRY STRATEGYGlen Dimplex is now the biggest Irishcompany in Japan. Chief executiveSean O’Driscoll shares his insights

24 COUNTRY STRATEGYCork-headquartered PCH has been inChina since 1996. Founder LiamCasey still sees lots of opportunity

26 DOING BUSINESS INJAPANHead of Asian partnerships at DITProfessor Bing Wu says Ireland hasunique advantages

28 INNOVATIONMicheál Collins’ company Prep Zoneis thriving in Singapore and plans toenter China

29 IT SERVICESEIRE Systems is different from othermarket entry companies from Ireland,says founder Matthew Connolly

30 FUNDSPatrick Lardner, chief executive, IrishFunds Industry Association (IFIA),provides an overview of theimportance of Asia

32 EDUCATIONA key area for growth, says MarinaDonohue, manager education, businessand consumer services, Enterprise Ireland

34 CONSUMER PRODUCTSManaging director of Tipperary CrystalDeclan Fearon on the importance ofbuilding partnerships over time

COUNTRY PROFILES[36] Japan [38] China [40] Indonesia [42] Korea [44] India[46] Vietnam [48] Singapore [50] Brunei Darussalam[51] Myanmar [52] Philippines [53] Malaysia [54] Thailand[56] Mongolia [58] Cambodia [60] Laos

USEFUL INFORMATION62 EU free trade agreements65 Embassies66 Bilateral business

associations

4 Ireland Asia Business Yearbook 2013

FOREWORD

ASIA is home to over half the world’s population, and to some of the world’sfastest growing economies. For an export-oriented country such as Ireland, thecountries of Asia offer enormous opportunities to further bilateral co-operation.The Government is committed to realising the potential that exists to increase

trade, investment, education and cultural links with Asian countries. Since takingoffice, my Cabinet colleagues and I have been fully engaged in visiting andmeeting our Asian counterparts.The purpose of these visits is simple. It is to raise the profile of Ireland and

Irish business; to highlight Ireland's many strengths as a location for investment;to make contacts; to open doors; and to ensure that Irish businesses get theorders and the contracts that will ensure jobs and growth here at home.Exports are key to Ireland’s economic recovery. Our goods exports for 2012

were at their highest level since 2002. Our trade surplus last year was nearly€43bn. An increasing amount of this trade is with the emerging and developedeconomies of Asia.In addition to trade in goods, we are also promoting our internationally

recognised services in Asia. Education, for example, is a key growth area, whereIreland has much to offer.We are also seeking to take advantage of developments at a European and

global level. Negotiations on an EU-Japan free trade agreement (FTA) will beginduring our EU presidency.Irish firms are already benefiting from the EU-Korea FTA that entered into force

last year. Negotiations with Singapore on an FTA have concluded andnegotiations with India and other ASEAN countries are continuing. Theseagreements will reduce barriers to trade and investment, and offer improvedmarket access for Irish companies.Ireland, as a small, open economy, is ever more dependent on our ability to

create and develop goods and services that we can market and sell in theseregions.The Government and its agencies are making unprecedented efforts to assist

Irish companies to capture the opportunities that exist within these markets. Ilook forward throughout 2013 and beyond to continuing this important sharedendeavour.

An Taoiseach Enda Kenny TD

WHYASIAmatters

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IRELAND OVERVIEW

ALONG with export growth, foreign direct investment (FDI) isplaying an important part in Ireland’s recovery, and all the signspoint to this trend continuing.Over 5,000 jobs were announced by IDA client companies in

the first six months of 2012, continuing the strong flow of FDIrecorded in 2011.The jobs are in a range of sectors, including IT, life sciences,

digital media and international financial services. PayPal, Appleand Mylan were among the largest projects announced.There has been a notable increase in capital intensive projects

in recent times, particularly in the pharmaceutical and ICT areas.A number of recent investments have commenced or will shortlycommence, leading to the construction of over 1,500,000 sq ft ofnew buildings, giving a much needed boost to the constructionindustry.Despite the global challenge of patent expiry in the pharma-

ceutical sector, Ireland continues to perform strongly in the sec-tor, targeting both the pharmaceutical and the bio-pharmaceuticalsegments in particular. Recent announcements have included EliLilly, Amgen, Allergan and Abbott.IDA’s 2011 annual report shows there are now almost 146,000

people working directly in over 1,000 IDA client companies. Thatyear saw the creation of over 13,000 new jobs, with the best netjobs increase since 2002 of over 6,000.Many multinationals are continuing to recruit in a range of

areas, including IT, languages, and sales and marketing.Commenting on the outlook for the Irish economy, IDA CEO

Barry O’Leary says: “There are challenging headwinds facing IDAand Ireland, with little growth in European demand, moderategrowth in the US and a slowdown in the economies of China andIndia. Due to a lack of domestic demand and budget deficitsmany countries are ramping up their attempts to attract inwardinvestment.“However IDA remains optimistic that Ireland can continue to

win significant FDI, building on our strong track record.

“IDA targets a number of sectors that will continue to groweven in a globally challenging environment. These include IT, digi-tal media and life sciences. Even in areas of low or no growth,opportunities will arise in sectors such as the consolidation oftechnology and operations hubs in global financial institutions,and consolidation of operations in a number of other sectors.”One of the objectives in the Government’s Action Plan for Jobs

2013 published in February is for IDA to target more than 130new investments, secure €500m worth of research and develop-ment investment, and help create 13,000 new jobs this year.

COMPETITIVENESS IMPROVINGImprovements in competitiveness in areas such as office rents,construction costs, unit labour costs and business services inrecent years have helped boost Ireland’s FDI performance.Ireland currently ranks first in four key areas in the IMD World

Competitiveness Yearbook 2012 and its overall ranking hasimproved by four places to position 20.Ireland ranks first for availability of skilled labour; flexibility and

adaptability of workforce; investment incentives; and attitudestowards globalisation.The country ranks second for business legislation, openness to

foreign investors; for large corporations that are efficient by inter-national standards; and for adaptability of companies. It comes infourth for corporate tax rate on profit and real corporate taxes.The IMD data, used by global companies, location consultants

and professional firms, highlights that Ireland possesses anextensive pool of highly skilled graduates available to a range ofindustries, among them ICT, life sciences, financial services anddigital media. Executives in the survey pinpoint Ireland’s skillbase as a key attraction of the country as an inward investmentlocation.The 2012 Talent Shortage Survey, published by the Manpower

Group, ranked Ireland as the global leader for the availability ofskills and the least difficult location, globally, in which to fill talent.

Despite the challenges, export growth and foreign directinvestment continue to drive Ireland’s economic recovery

An optimistic outlook

IRELAND OVERVIEW

“Competition for FDI is significantly increasing and theavailability of skilled labour is, amongst other things, one of themain deciding factors when companies are choosing a locationfor their overseas investments,” says O’Leary.“The fact that Ireland continues to lead the way in availability of

skilled labour adds significantly to our reputation as a host forFDI and the outlook for maintaining this position in the futureremains positive. For example, greater availability of computerand software personnel will be a key feature for investors inIreland over the coming years.“This is due to the increase in the numbers enrolling in com-

puter software courses and conversion courses in universitiesand institutes of technology across the country. Uptake of under-graduate computer courses has experienced a 40pc increase inthe past four years, with the first of these additional students, athonours degree level, coming into the employment market lastsummer.”

FOCUS ON ASIAIn support of IDA Ireland’s stated objective in Horizon 2020 toachieve 20pc of greenfield investments from high growth marketsby the year 2014, seven new IDA offices were opened in recentyears in Shanghai and Shenzhen, Mumbai and Bangalore,Singapore, Moscow, and Sao Paolo.“While these markets represent greater export opportunities for

Ireland in the medium term due to their domestic growth rates,the pipeline of potential inward investments at the end of 2011 isencouraging and we are fully committed to our 2014 targets.Undoubtedly with the strengths of these economies we have toestablish a market share there and we are investing for the medi-um to long term,” IDA Ireland’s 2011 annual report states.One of the most significant Asian transactions in recent years

involved the launch of SMBC Aviation Capital, which was officiallyopened in Dublin in October 2012.The new company comes into existence following the €5.8bn

acquisition of the business by a Japanese consortium led by

Sumitomo Mitsui Banking Corporation (SMBC).The consortium also includes Sumitomo Mitsui Finance and

Leasing, and Sumitomo Corporation. SMBC Aviation Capital isthe world’s fourth largest aircraft leasing firm by owned and man-aged fleet and its presence here adds significantly to Ireland’scluster of aircraft leasing companies; 50pc of the world’s com-mercial aircraft fleet is now managed from Ireland.Separately, IDA Ireland also signed a memorandum of under-

standing (MoU) with SMBC to promote communication and busi-ness exchange between Ireland and Japan last October.SMBC has had a presence in Ireland since 1989 through its

subsidiary, Sumitomo Mitsui Finance Dublin Ltd. This presencehas been further enhanced with the acquisition of SMBC AviationCapital and the recent opening of a Technology DevelopmentCentre of Japan Research Institute America (JRIA) in Tralee.“The increased presence of SMBC in Ireland also adds to the

cluster of high-profile Japanese companies that have chosenIreland as a base for their overseas operations including Alps,Fujitsu, Takeda, Trend Micro and Gala. In addition, by signing theMoU between IDA Ireland and SMBC we hope to open the doorsto attract further Japanese investment into Ireland,” says O’Leary.

Ireland – key facts■ The economy returned to growth in 2011, expanding

by 1.4pc■ Significant improvement in Ireland’s cost environment

underpinning the return to growth. Business costshave fallen significantly from the peak in 2007/2008.Irish labour costs fell below the euro Aarea in 2011

■ Companies continue to choose Ireland as one of thebest countries in the world to do business. IDA Irelandcompanies recorded their third year of employmentgrowth in 2012

■ Key strengths remain – Ireland has a young educatedworkforce, the best productivity performance in theEU, a strong export performance and a critical massof companies

■ The economy has been restructured towards a moresustainable growth model

■ Ireland has re-entered the sovereign bond market■ Ireland’s cost of living continues to improve■ Exports continue to perform well■ The Purchasing Managers Index signalled growth in

both manufacturing and services in 2012■ Ireland’s fiscal adjustment is on track with troika

programme targets having been met

Source: IDA Ireland, January 2013



ASIA OVERVIEW

IRISH companies generally are beginning to succeed in the AsiaPacific region because the economies there have not experiencedthe difficulties faced by the US and Europe since 2008, accordingto Alan Dixon, executive director, Asia Pacific region at EnterpriseIreland.Based in Shanghai, Dixon leads a team based across a network

of offices in Australia, China and Hong Kong, India, Korea, Japan,and the ASEAN region.“When Irish business people talk about Asia, they tend to be

referring mainly to China because that’s mainly what’s in the newsand Ireland has had a trading relationship with China for over 33years. We have also been in Japan for a long time; India is morerecent, with Enterprise Ireland having set up an office there in 2006.“The geography is vast in Asia Pacific – the distance between

Shanghai and Sydney is further than the distance from either toDublin, which people often don’t realise. It takes five hours to flyfrom Shanghai to Singapore.”Irish companies putting down a presence in a market is an

indication of how serious they are about doing business there,

Dixon maintains.“Ten years ago, Enterprise Ireland was working with 100 Irish

companies in this region that mainly had joint venture partners andsales offices on the ground,” he says.“Now there are hundreds of Irish companies operating there

including large Irish enterprises such as CRH, Glen Dimplex andGlanbia. Irish Enterprise clients have increased fivefold to reach500 in total.”Not only is the Irish presence rising in terms of company num-

bers, those that are in the region are doing some extraordinarythings.“The software used at passport control in Toyko airport was

developed by Irish company Daon; the water management sys-tems in Hong Kong were designed by Datac; and when you pay bycredit card through the Bank of China, Irish company Fexco isresponsible for processing the payment,” notes Dixon.Most recently, Kerry-based mobile technology company

Altobridge announced a major new contract with Maxis Berhad, alarge integrated communications service provider in Malaysia.

An increasing number of Irish companies are successfullyputting down a presence in the Asia Pacific region

Time to thrive

ASIA OVERVIEW

The agreement will involve the deployment of over 300 newmobile broadband sites, delivering ultra-low cost 3G services torural communities throughout Malaysia, which Maxis is undertak-ing. Close to 200 sites are already in service across some of theremotest parts of Malaysia.Set up in 2002, Altobridge is headquartered in Kerry Technology

Park and has further bases in the US, China and Malaysia, cover-ing sales, research and development, customer support, and man-ufacturing.Focusing on other sectors, Dixon says Ireland has carved out a

name in financial services and Dublin in particular is known for air-craft leasing.Life sciences and medical technology are also growing in impor-

tance. For example, Wexford-based stents manufacturerClearstream is operating in India and clinical trials company Icon isbig in China, Japan and Korea. Dixon says significant demand inthese areas is expected in the ageing markets of Korea and Japanparticularly.Food is a huge business for Ireland in the Asia Pacific region and

Enterprise Ireland invests in Irish exporting food companies con-ducting R&D, working together with Bord Bia to support them togrow in individual markets.“There are big opportunities for Irish food and drink, particularly

exports of milk powder. China in particular is keen to import infantformula, for which Ireland is a manufacturing centre. Around10–15pc of infant formula supplied globally is made in Ireland.Seafood is another area we are promoting through investment inIrish companies. China’s growing middle class is interested in try-ing different foods and products,” says Dixon.In China and Malaysia, a major opportunity exists in education

services as Irish universities target students and set up joint pro-grammes and degrees (see page 32). “Before I came to Shanghaiin 2008, I didn’t appreciate the significance of education. It isAustralia’s third largest revenue earner after coal and iron ore andAustralia is targeting China and India for students,” notes Dixon.

“The US, UK and Canada are big players in this space too,appealing to Chinese students because of the English languageand they know them through television programmes. Ireland hadover 5,000 Chinese students in 2012 and we also successfullyused social media in India, attracting 800 students. We expect thisfigure to double in the next three years. Minister for EducationRuairi Quinn’s visit to China and March will be important in thisregard.”Irish exports into the region by Enterprise Ireland clients grew by

12pc to reach €989m in 2011 and Dixon expects growth of at least8pc for 2012.“Asian markets continue to grow for Irish companies although

China has slowed a bit, but this was to be expected. The focuswithin China is more on domestic consumption rather than export-ing. It has a relatively well-off middle class made up of 140 millionpeople, which means a major opportunity, particularly in the con-sumer goods area.“Japan has experienced turbulence following the tsunami and

earthquake. Nevertheless Irish companies are doing well and anumber have been there for many years. India is a difficult market –it tends to be more about partnership than in China.”In 2007, just before Dixon moved to Shanghai, Australia would

have been Ireland’s biggest market in Asia Pacific; two years laterChina had taken over and is now its No 1 market in the region.“Taken together, Southeast Asia is the third largest market where

Irish-owned companies have a presence. Important markets areSingapore, Malaysia, Vietnam, Indonesia and Thailand. Each Asianmarket offers different opportunities and you won’t necessarily getthe same Irish companies throughout the region,” he notes.In every Asian market face-to-face contact when doing business

is required to a much larger degree than in western markets.“One thing that would link all of the successful Irish companies

in Asia Pacific is that they aggressively pursue the market, go thereregularly and meet potential customers. It’s being in front of deci-sion-makers in the first 18 months that really separates them fromcompanies that might just visit once a year,” says Dixon.“A great opportunity exists in Asia Pacific for Irish companies,

but it isn’t for everybody.”



NETWORKS

Enterprise Ireland has identified the Asia Pacific region asone of immense potential, says chief executive Frank Ryan

Targeting themarket

BUILDING on a strong export performance overall for the pastnumber of years, Enterprise Ireland is continuing to harness theas yet unexploited potential of Asia Pacific markets, according tochief executive of Enterprise Ireland Frank Ryan.“We are prioritising Asia Pacific, but this is not to say that we’re

taking away from existing markets. We must maintain growth inthose, but we view Asia Pacific market as offering significantgrowth potential for the future,” he says.Client exports to Asia Pacific climbed 17pc to reach €978m in

2012. This compares with client companies’ largest market forexports, the UK, which climbed 4pc to €5.5bn and NorthernEurope, which rose 18pc to €2.16bn in the same year.Under the Government’s ‘Action Plan for Jobs 2012’ Enterprise

Ireland was directly involved in 105 of a total of 270 actions,which will continue to reinforce its activities in the Asia Pacificregion.“Throughout the year we delivered on these targets in areas

such as setting up a Potential Exporters division and initiatives inthe areas global sourcing and international and female entrepre-neurs,” says Ryan.“The world economy is predicted to grow moderately in 2013,

according to the World Bank. This is important because it pro-vides a context and offers opportunities for Irish companies tocontinue to grow their exports, which in turn creates additionalemployment in Ireland.“Throughout the year, Irish exporting companies persevered

and faced severe global economic conditions with determination.They are now, more than ever before, leaner, stronger and continueto increase their appetite for international growth.”

Ryan notes that Enterprise Ireland has built up a vast amountof knowledge and connections right across the Asia Pacificregion and can help companies interested in venturing into one ofthe markets in various ways.The agency has a national network of nine regional offices

throughout Ireland and over 30 international locations. Eight ofthese are in Asia Pacific – in Australia, China, India, Hong Kong,Malaysia, Singapore, and South Korea.“We can help companies with research and prequalification

before they incur the expense of going into the markets.Servicing Asia Pacific markets is expensive, but a lot can bedone beforehand through our country desk officers in Dublin,”says Ryan.“Once a company has decided to go into a market our network

of offices on the ground can work with colleagues in Dublin tohelp them to find suitable local partners. Finding the right partnerin Asian markets does take time. However, putting in the timeand effort results in a better quality outcome in the longer term.”Ryan provides the following advice to any Irish company con-

templating targeting a market in Asia Pacific: “You need to startfrom what the opportunity is for your sector and use what you’vedone closer to home as a reference point, spending time andresources on developing your offering to suit the market.“For example, if your company has done something special in

the area of biotechnology, you could consider targetingSingapore as there is a large cluster of biotech companies there.Or if you’ve found a niche in financial services it might be best tostart in Hong Kong or Singapore as they are viewed as financialcentres in the region.”


IRISH EXPORTS

IN overall terms, Ireland exports significantly less than our potentialto Asia – generally, less than 4pc of Irish exports go to the region,compared to more than 20pc of exports from our Europeanneighbours.Within this there is, however, some encouraging news – for

example, merchandising exports to Japan increased 18.9pc lastyear to more than €2bn; merchandising exports to India alsoincreased by 5.9pc, but from an incredibly low base to just over€230m.On the other hand, exports to China actually decreased by

8.9pc to just over €2.2bn. In overall terms, our business in Asia issmaller than the opportunity suggests.Opportunities are expanding throughout the region. Despite

some reductions in growth levels (as traditional export marketsfor these countries such as the US and EU have struggled), theAsian Development Bank recently reported that domestic con-sumption continues to grow throughout Asia.This is driving opportunities in many categories from food

through consumer products, healthcare, education, financial serv-ices, aviation and technology.We see China, Japan, India, Republic of Korea and Malaysia as

the top priority markets. The key is to ask which market is at theright stage of development for what your company can delivercompetitively and which market makes sense to start in.It does not always follow that the biggest, ie China, is the right

market to enter first for many reasons.Since the Irish Exporters Association set up the Asia Trade

Forum (ATF) in 2011, we have worked hard to ensure that policy-makers are listening to the needs of its members. One tangible

example of that is the introduction and now expansion of theForeign Earnings Deduction scheme.In addition, there are several such initiatives that we are work-

ing on to support all exporters and these include access tofinance and working capital and expansion of R&D tax creditarrangements.At a more practical level, we have helped more companies to

get their first step on the ladder through our free events in Irelandfocusing on practical, concrete advice for exporters from peoplewho have already done it. Last year we also ran the first businessmission to India, which helped a number of exporters open rela-tionships and even seal deals.Finally, our joint programme with the Smurfit UCD master’s

programme to link students with businesses to focus on practicalfirst steps for companies was a great success and we plan toexpand it.When it comes to Irish exports to Asia, the first and most

important thing is to recognise the importance of the opportunity.It is there, and significant, and for many companies should be afactor in their thinking from the beginning. Then, the next step isto do the homework and make the investment to make it happen.The same exists at Government level – we need more of the

great resources from Enterprise Ireland, IDA and Bord Bia on theground in these markets for longer.We are late in this race versus our competitors, but we can

catch up – it is just a matter of driving the issue to ensure it getsthe focus.Our work with the ATF will not be done until Asia represents at

least 10pc of total Irish exports.

Colin Lawlor, chairman of theIrish Exporters Association,provides his insights into Irishexports to the Asian region

Stepping up


FDI

Key growth markets such as Asia Pacific represent majoropportunities for Ireland going forward, says IDA chiefexecutive Barry O’Leary

Broadeninghorizons

WHILE the US and Europe accounts for most of IDA’s invest-ment projects, Asia Pacific and the other key growth marketslike Brazil and Russia represent Ireland’s future, according toIDA chief executive Barry O’Leary.“We have committed as part of the current IDA strategy

implementation to achieving 20pc of our greenfield investmentflow from these markets by the end of 2014 and have put inplace a dedicated team to drive this,” he says.“Japan has led the Asian investment to Ireland up to now and

we have a representation there for almost 40 years – in fact thefirst post-war investment by a Japanese company took place in1958 in Ireland when Brother established a manufacturing anddistribution facility in north Co Dublin.”IDA currently has 23 Japanese client companies employing

close to 2,500 people in Ireland.Focusing on sectors, information and communications tech-

nology has led the way in terms of investments to date, closelyfollowed by pharmaceuticals, but O’Leary says IDA is also see-ing some positive opportunities in financial services and avia-tion/engineering, and in sub-sectors such as digital media andgames.The agency recently opened offices in Shenzhen, Seoul and

Singapore in the past three years, in addition to its longerstanding representation in Tokyo, Sydney and Shanghai.

“In addition we have signed important and symbolicmemorandums of understanding in China and Japan with thelikes of ICBC (the largest bank in the world) and SumitomoMitsui Banking Corporation to promote enhanced communica-tion and information sharing on investment opportunities,”O’Leary notes.“Building on the momentum we have created in these mar-

kets, the senior management team in IDA and I have extensivetravel planned in Asia in 2013 to further support our front lineexecutives in converting investment opportunities.“I’m pleased to report that we have a firm commitment from a

number of Government ministers to travel to our key Asian mar-kets this year to enhance our efforts and the work of EnterpriseIreland, while also strengthening bilateral diplomatic relationswith these countries.”O’Leary adds that IDA has been “very encouraged” with the

geographic spread of investment from Asia over the past cou-ple of years, which endorses its decision to broaden our marketrepresentation in the region.“Key investments in that regard include ICBC Financial

Leasing and Huawei from China; Rakuten, Fujitsu andSumitomo Mitsui Banking Corporation from Japan; and emerg-ing investments from India and Malsysia with Aris Global,Braahmam and Amanie Partners respectively.”


FOOD AND DRINK

ASIAN markets are very important to Irish food and drinkcompanies as they are growing rapidly – as chief executive ofBord Bia Aidan Cotter points out, exports to the region climbed26pc in 2012 to reach €467m.“When you consider that overall Irish food and drink exports

went up by 2pc to reach over €9bn in 2012, you can imaginehow important the growth rates in Asia are,” he says.“The main components for Ireland in Asia are dairy ingredients,

pig meat and seafood. There are growing middle classesthroughout Asia as well as a shift in dietary habits towards moreprotein-based products, which Ireland has its own strengths in.There is a good alignment in terms of what the region needs andwhat Ireland can provide.”Focusing on individual markets, within the total export figure to

the region China is by far the largest, reaching around €259m in2012, 39pc up on 2010.“In fact, total food exports to Asia are 75pc higher than in

2010, with markets such as Japan, Malaysia, South Korea,Vietnam and Thailand all showing double-digit growth for Irishfood and drink exporters,” notes Cotter.Growth has been particularly strong for Irish food and drink

over the past two years because of a greater focus by companieson Asian markets in terms of a greater investment of resources.Among Bord Bia’s key initiatives this year will be the continued

development of its sustainability programme Origin Green, whichCotter says will be important in Asia.

Since launching in June 2012, some 164 companies accountingfor almost 60pc of Irish food and drink exports have signed up tothe programme.Bord Bia announced plans in January to recruit 10 new ‘Global

Ambassadors’ as part of Origin Green, with Southeast Asia andIndia two of the areas to be targeted.Cotter says for first-time exporters the sheer scale of the Asian

region can sometimes be quite intimidating, especially for smallercompanies.One of the ways Bord Bia addressed this issue was to launch

the Ireland China Food Hub and the Ireland-China Food Networklast year.The network will bring together members of the diaspora

based in China, while the Food Hub is a shared office facility forIrish food and drink exporters targeting the Chinese market.“There are six companies from the meat and seafood sectors

initially working together to share resources and market knowl-edge with a view to increasing their presence in the market. Weare optimistic about the attractiveness of this way of growing Irishcompanies’ business in Asia generally,” Cotter explains.Bord Bia has a programme of research ongoing in the region

with the aim of identifying opportunities for Irish companies. Forexample, last year it carried out ethnographic research in SouthKorea, Vietnam and Indonesia, which involved researchers livingin people’s homes to see how they ate and shopped during theday.

Irish food and drink exports to Asia have seensubstantial growth in the last two years andthere is optimism that this trend will continue,says Bord Bia chief executive Aidan Cotter

Driving double-digit growth

Minister for Agriculture, Food and the Marine SimonCoveney TD; Michael Carey, chairman, Bord Bia; andAidan Cotter, CEO, Bord Bia at the opening of the IrishFood Hub, Shanghai


TOURISM

THE Chinese and Indian markets offer exciting possibilities fortourism to the island of Ireland in the medium to long term,according to Niall Gibbons, chief executive of Tourism Ireland.“The majority of overseas visitors to the island of Ireland

come from the core markets of Great Britain, mainland Europeand North America, and while this will continue, it is importantthat we expand our focus beyond these markets and look tothe long-term opportunities presented by the markets in Asia,and in particular China and India,” he says.“The United Nations World Tourism Organisation has forecast

that the Asia-Pacific region will be one of the fastest growingregions for outbound travel in the coming years.”In China Tourism Ireland has a presence in Beijing and

Shanghai and in India in Mumbai and Delhi.The Irish Government’s short-stay visa waiver scheme, intro-

duced in 2011, has been a real boost in helping to raise aware-ness of the island of Ireland in both China and India, accordingto Gibbons.The scheme makes it easier for tourists from emerging

tourism markets to visit Ireland when they are visiting the UK –they can now continue to Ireland without the cost or hassle ofapplying for a separate visa.Tourism Ireland has been highlighting the scheme extensively

in China and India, and many Indian and Chinese tour operatorsare now including the island of Ireland in their programmes forthe first time ever because of the scheme.In terms of strategy, Tourism Ireland’s activity in China and

India involves establishing and consolidating relationships withkey intermediaries – including tour operators, travel agents, air-lines and media.It also operates a programme of fact-finding or familiarisation

visits for travel agents, tour operators and journalists to Ireland.“In China, we focus mainly on three geographical areas:

Shanghai (eastern China), Beijing (northern China) andGuangzhou (southern China),” Gibbons explains.“Our promotions are targeted to reach approved destination

status groups; business travellers; summer and winter schoolgroups; as well as luxury and independent travellers.”Tourism Ireland’s target markets in India include the 25–44-

year-old segment from Mumbai, New Delhi and Bangalore; alsobusiness travellers and family groups.Online and social media activity is important too, Gibbons

notes. “We are currently developing the Chinese version of ournew website Ireland.com. We have more than 74,000 Facebookfans in India and in China Tourism Ireland has about 233,000followers on social networks, including Tencent and Sina Weibo.”More than 82 million Chinese people travelled overseas in

2012, an increase of 17pc over 2011; outbound tourism expen-diture reached US$98bn, up 35pc over 2011. The Chinese out-bound travel market is predicted to increase to 94.3 million peo-ple in 2013.“The growing disposable income of Chinese consumers

[there are an estimated 562,000 ‘high net worth’ individuals inChina], has boosted confidence considerably,” says Gibbons.“Independent travel is increasingly a strong personal state-

ment and those who are able to travel independently interna-tionally are generally web savvy, speak good English and canafford the time and money required by the planning.”Until recent years, India’s outbound tourism was restricted to

the privileged few. The recent explosion in travel is due to manyfactors – including the thriving economy and subsequent risingincomes; higher pay scales and double income families; entic-ing fares, packages and offers; attitude changes, and mediainfluences and trends.The number of outbound Indian travellers exceeded 14.3

million in 2011 and is estimated to reach 20 million by 2015.

The markets in Asia offer positive long-termprospects for Irish tourism, says chief executiveof Tourism Ireland Niall Gibbons

TOURISTattractionZhao Ruo Hong and Zhao Yan trytheir hand at hurling at MuckrossTraditional Farm in Killarney, Co Kerry

The Dublin City Business Association (DCBA) is a not-for-profit voluntary association that hasworked tirelessly for the restoration, development and promotion of Dublin city centre for over

35 years. DCBA is a guiding force in the decision making process in local and nationalgovernance. It has a strategic vision of the development and sustainability of the city centre

and the greater Dublin area.

DCBA is represented on relevant decision-making panels, strategic policy committees andother committees in Dublin. DCBA provides a forum for networking with your colleagues andpeers. We make sure that you are up to date with credible market information. We take action

to achieve results for the benefit of our members.

DCBA has a significant source of information. DCBA operates an open door policy for itsmembers and we are available for an update or discussion in confidence. All members have

access to DCBA website policy papers, issues and events. Regional and local issues –the matters that concern you.

YOUR DUBLIN – YOUR VOICE –DUBLIN CITY BUSINESS ASSOCIATION

David Brennan, chief operations officerDublin City Business Association, 21 Dawson Street, Dublin 2

Tel: 00 353 1 662 2995, email: [email protected], web: www.dcba.ie


CITY TWINNING

LORD Mayor of Dublin Naoise O’Muiri was part of a delegationthat went to the inaugural World Tourism Cities Federation(WTCF) conference in Beijing last September, as part of thetwinning agreement between the two cities.WTCF is the world's first non-profit international non-govern-

mental organisation set up to promote global tourism. With ‘tocreate better city life through better tourism’ as its core idea, it’scommitted to promoting exchanges and co-operation betweenmember cities.Having worked on the idea for a number of years, the twin-

ning of Dublin with Beijing first came to fruition two years agowhen the two cities signed a memorandum of understanding(MOU), explains O’Muiri.“It was included as part of the original MOU that Dublin

would be a founding member of the WTCF.”Based on the twinning agreement Dublin has with San Jose

for over 25 years, the link-up with Beijing involves a practicalprogramme of activity of mutual benefit to both cities.“We send a delegation to Beijing every year and vice versa,

which works very well. We are hoping to take two interns fromBeijing Municipal Government to work in Dublin City Councilsoon, which means developing a relationship between the twolocal authorities,” says the Lord Mayor.“Educational institutions have been ploughing ahead on the

basis of the co-operation too, such as the Confucius Institute inUniversity College Dublin. In addition, the Chinese New Year

Festival in Dublin has grown in size and we will continue todevelop that.”Dublin has become one of the top five honeymoon destina-

tions for Chinese people and a new tourist map of the city inMandarin was launched last year, he notes.“Dublin and Beijing can learn a lot from each other thanks to

the twinning agreement. Something Beijing can learn from us isthat Dublin is quite unique in terms of its cultural heritage. It is acity of cubby holes with an intimate experience available – verydifferent to Beijing, which is a city of great scale, a lot of whichis newly built, and a lot built around the Olympics. We havebeen sharing experiences of attracting tourists and gaininginsights.“The Olympics represent an example of how Chinese people

are very good at long-term planning, which is something we inDublin can learn from. They decide where they want to be infive years’ time and stick with it.”O’Muiri recently became the first Dublin mayor to go to

Japan, having participated in an intercultural conference inHamamatzu last autumn.“We took the opportunity to meet business people and edu-

cational institutions in Tokyo with the aim of developing links inthe greater Dublin region. From the trip I could see there arecertainly opportunities for Irish companies to work in Japan butit doesn’t happen overnight. You have to spend time working onrelationships.”

‘TheOlympics representanexampleofhowChinesepeopleareverygoodat long-termplanning,which issomethingwe inDublin can learn from’

The twinning agreement between Dublin andBeijing has been mutually beneficial as bothcities continue to learn from one another,explains Lord Mayor of Dublin Naoise O’Muiri

Twinperks


CITY TWINNING

CORK has been a sister city of Shanghai since 2005 and hasbeen working with the Shanghai Municipal People's Governmenton the relationship since 2002.In 2009, both city governments concluded a five-year plan to

manage the relationship to 2014. Cork has also signed friendshipco-operation agreements with Hangzhou in Zhejiang Province(2011) and Wuxi in Jiangsu Province (2011). In 2013, it will signan agreement with Shenzhen in Guangdong Province.Each agreement is organised around the themes of local gov-

ernment; education; business; and culture and tourism.In Cork, these relationships are managed through the China

Project Group, which reports to the City Council’s InternationalRelations Committee.The organisations represented on the China Project Group are

Cork City Council, Cork Chamber, Cork Institute of Technology(CIT), University College Cork (UCC), Fáilte Ireland South Westand City of Cork VEC.In 2008, the UCC Confucius Institute (UCCCI), led by Prof Fan

Hong, was founded in partnership with Shanghai University.Lord Mayor of Cork Councillor John Buttimer is a board mem-

ber. “The UCCCI now delivers language and culture classes to inexcess of 50 schools in Munster and further afield,” he explains.“In 2011, it was selected as a Confucius Institute of the Year in aworldwide competition, with its close relationship to the city gov-ernment in Cork highlighted as a particular factor in its success.In 2012, it was selected to design the new short course inChinese for the Junior Certificate.”In parallel, since 2008 Cork City Council has sponsored the

forming of formal relationships between 10 schools in Cork with

counterparts in Shanghai.Cork Chamber has concluded agreements with chambers in

Shanghai and Hangzhou.The Shanghai intern programme has seen nearly 20 officials

spend up to 12 weeks working with Cork City Council and study-ing in UCC.Cork has a track record in providing a positive experience for

foreign companies, some of which have been here for over 40years and have added more high value functions and activities inthat period, he continues.“It is particularly strong in pharma, biopharma, ICT, international

services, medical devices, education, health, public administra-tion and tourism.“In addition, Cork is spawning its own hi-tech companies and

start-ups that would be very attractive to Asian partners for jointventures or acquisition. The two Chinese companies in Cork,Huawei and Firecomms, both acquired local companies. UCC isdeveloping a College of Asian Studies with a focus on China,Korea and Japan, in addition to Taiwan. One of the biggest Irishcompanies in China, PCH, is headquartered in Cork.”The Lord Mayor says that Cork continues to seek opportunities

with partners in Asia. “The focus to date has been on China, butstrong relationships exist with Japan, the Philippines, India,Pakistan and Saudi Arabia through the activities of individual com-panies and the nationalities represented in the local labour force.“Cork City Council as the lead government agency works

closely in partnership with the commercial sector and the third-level sector to promote, develop and sustain links with bothestablished and emerging economies in Asia.”

Since becoming a sister city of Shanghai, Corkhas been developing that relationship, explainsLord Mayor of Cork Councillor John Buttimer

Relationshipbuilding

PAT Breen TD, chairman of the Joint Committee on ForeignAffairs and Trade, went on an eight-day trip to Japan lastNovember, which came about following a visit from theJapanese parliamentary senior vice-minister for foreign affairsKazuya Shimba to Dublin.Covering Osaka, Kyoto and Hiroshima, Breen describes the

trip as “quite exhaustive”, involving a lot of meetings, includingwith politicians, Japanese external trade organisations, and IDAIreland and Enterprise Ireland representatives on the ground.“The Japanese ambassador to Ireland Chihiro Atsumi was

anxious that a senior Irish politician travel to Japan beforeIreland took up the EU presidency,” Breen explains.The impression Breen got from his visit was there wasn’t a

high awareness of Ireland as a market generally, but those thathad heard about Ireland had good things to say.“They’re positive about the new Government and feel that

confidence has been brought back to the economy. They’reimpressed with how we met all our troika targets and don’tassociate us with Spain, Portugal and Greece.“I found people to be very understanding of how the

downturn affected Ireland because Japan went throughsomething similar in 1989 when their property bubble burst.”

The process towards reaching a free trade agreementbetween Europe and Japan started during Breen’s visit andnegotiations are continuing.It is estimated that the successful conclusion of a free trade

agreement between the EU and Japan could add €42bn to EUGDP.“The removal of tariffs and barriers would be of huge benefit

to Ireland. Japan imports about 60pc of what they consumeand Ireland exports a huge amount of food into Japan, worthabout €1.8bn in total, while we import about €800m from there.Agriculture there is quite weak following the tsunami,” he says.“During the trip I emphasised to members of parliament the

importance of opening up the beef trade again with Japan,which has been gone since the BSE crisis in 2000. Some ofEurope has got the go ahead, with France and the Netherlandshaving the ban on their beef lifted on 1 February. Ireland is nextin line.“I would hope it will be achieved before the Japanese prime

minister Shinzo Abe comes to Northern Ireland for the G8conference next June. The beef trade to Japan was worth €20ma year to Ireland before the ban. I would hope too that theprime minister will make an official visit to the Republic thisyear.”Breen feels Ireland should be pushing trade with Asia and

that Japan is very important.“Japan is Ireland’s 11th largest trading partner, and our

second largest in the Far East. I believe there is huge potentialto increase beef, pork and shellfish exports. Japan is Ireland’sthird largest market for pork exports. The ‘Ireland House’concept where Enterprise Ireland, IDA Ireland and the Irishembassy are taking a co-ordinated approach is working well.“There are 50 Japanese companies in Ireland, 22 of which are

IDA Ireland assisted, and which created 200 jobs in Ireland lastyear.“It is important that senior members of parliament on both

sides foster favourable relations. Ireland is very much seen inJapan as making a comeback.”


FOREIGN AFFAIRS

The prospect of a free trade agreement between the EU and Japan isgood news for Ireland, according to Pat Breen TD, chairman of the JointCommittee on Foreign Affairs and Trade

Land of the rising opportunity

‘During the trip I emphasised tomembersofparliament the importanceofopeningup thebeef tradeagainwithJapan’


STRATEGY

IRELAND’S nimble business model, combining both traditionalsectors, such as food and drink, with hi-tech sectors, such assoftware and medical devices, means it can take advantage ofemerging trends in markets across Asia.So believes director general of employers group IBEC Danny

McCoy, who says for this to happen, companies need torecognise the diversity of the Asian economies and societies.“While the rise of China and India is remarkable, we must

recognise there are economies across Asia, such as Indonesia,Thailand and Kazakstan, that offer opportunities for engagementand trade.“Geographic distance still represents a challenge when looking

at opportunities for development. While not the limiting factor itonce was, it still hampers some opportunities and we need totake this into account when considering our trade strategy.”On a more basic level, McCoy points out that Ireland tends not

to have the same shared history or background as we do withmany of our developed trading partners such as the UK and theUS. But this shouldn’t distract or stop us from engaging fully withAsian partners.“Recognising these differences, we need to have a better

understanding of culture in Asia and the impact this has on doingbusiness. IBEC has been working with a number of partners,including University College Cork, in developing training forcompanies considering exporting to Asia.”

Ireland’s relationship with Asia matters on a number of levels.“Over the past decade we have seen the increasing

interconnectedness between our economies. Asian equity anddebt markets now price in and react to changes in Europeanmarkets,” says McCoy.“The Asian economies are developing at a rapid pace. They are

not homogenous – at one end of the scale we have therelationship between the EU and Japan, a relationship that isdecades old. The EU is the biggest investor in Japan, whileJapanese companies employ thousands of people acrossEurope.“The continuing pace of development across Asia presents a

huge and growing market for business. Across areas as diverseas services, food, education, consumer goods, Europeanbusiness have great opportunities. Equally, Asian economies arelooking to advance into the EU and US economies.”Ireland is well positioned to act as a gateway to Europe for

many Asian companies, according to McCoy. “We have alreadyseen some investment begin to flow in that regard, but this needsto grow in a sustainable and enduring fashion.“For Europe, Asia represents not only an important trading

block, but also a geo-political partner. Meeting the challenges ofthe 21st century requires defining a new and imaginativerelationship between Asia and Europe, and recognising eachother’s strengths and respecting our cultural differences.”

Director general of employersgroup IBEC Danny McCoybelieves Ireland can benefitfrom emerging trends in Asia

Building tradingBLOCKS


COUNTRY STRATEGY

WHEN it comes to Asian trade strategy, Ireland has put a vastamount of its emphasis in the past five years on China, which isas it should be, but we have to get the balance right between itand other countries, according to Sean O’Driscoll, chairmanand chief executive of Glen Dimplex.Over the past 10 years or so Glen Dimplex has grown rapidly

to become the largest Irish company operating on the ground inJapan with annual turnover of €70m, seven offices, fivedistribution centres and 120 employees.The Japanese company represents 5pc of the Glen Dimplex

group, but a very important 5pc, says O’Driscoll, who is aformer member of the Government appointed EnterpriseAdvisory Oversight Group and the Ireland Asia High LevelStrategy Group.“China has overtaken Japan as the second largest economy

in the world – this is the headline everyone thinks about. If youdrill down into the detail, China has a population 10 times thesize of Japan, which translates back into per head ofpopulation wealth a multiple of what it is in China. That is theopportunity.“You can look at the big picture, but you lose the opportunity.

Japan is wealthy and prosperous, a country fixated on qualitywhose citizens are prepared to pay premium prices for thatquality.”Glen Dimplex started looking at seriously targeting the

Japanese market about 12 years ago when it decided therewas a need to go further afield generally in terms of sales. Ajunior sales executive went to investigate and reported back 10days later that he believed there wasn’t an opportunity for itsproducts there.“We decided to spend time in the market at a more senior

level so international business development director NeilNaughton and I went for a week. A lot of our business meetingswere organised by Enterprise Ireland, which we found fantastic.We saw an opportunity to sell heating appliances that arepremium, European manufactured and renewable,” O’Driscollexplains.“On a train journey the CEO of a distributor we knew in

Japan asked me exactly what were we trying to achieve. I toldhim we wanted to establish our own company there and heasked me to consider him as the person to run it. Seiji Kasamacontinues to be our chief executive in Japan.”O’Driscoll describes doing business in Japan as “a very slow

burn”, but when it did happen it turned into a long-termsustainable business very fast. It is now working in partnershipwith the likes of Panasonic, which is a significant supplier to theJapanese building industry with an extensive portfolio ofshowrooms. The model of working with large customers thatsell Glen Dimplex products is working.“During the first couple of years we made lots and lots of

Realisingpotential

The Japanese market is largely untapped byIreland, believes Sean O’Driscoll, chairmanand chief executive of Glen Dimplex


COUNTRY STRATEGY

‘Japan isagreat countrytodobusiness inbut, Ibelieve, largely ignoredby Irishbusinesspeople’

visits, speaking to potential Japanese customers. We had lots ofenquiries but very few orders. It was frustrating for our non-Japanese colleagues on the ground as every day there weremore questions about the technical aspects of our productswith the same question being asked in different ways. But thiswasn’t translating into hard orders.“Then after about two years it all changed and orders started

to come and come very strongly. I always say that process wasabout our Japanese colleagues building relationships withpotential customers. They knew that before we could sell withany degree of confidence we needed to be 100pc sure potentialcustomers understood us, what motivated us and wereconvinced we were quality focused.“The Japanese are the best marketers in the world because

they really understand their products and are able tocommunicate this in a simple way.”Last year, Glen Dimplex set up a dedicated renewables

division in Japan, focused on selling energy efficient heat pumpsto displace air conditioning systems. They are going into hotels,glass house complexes for growing vegetables, and spa resortswhere they are replacing kerosene boilers.One of the secrets of Glen Dimplex’s success in Japan has

been gaining a proper understanding of the culture, according toO’Driscoll.“It’s not just about the language or the legal system. In the

case of Japan, you have to meet the decision-makers face toface regularly. Unless you’re prepared to do that you can forgetabout Japan. We invested a lot of time in understanding theirculture. The Japanese are slow to engage with you until they’reconfident, but when they do they make tremendously loyalbusiness partners.“It is a society of absolute attention to detail and order – it has

the highest quality expectations of any market we have everoperated in. Everything has to be done on time. Learning fromthis has made us a better business worldwide.”Elsewhere in Asia Pacific, Glen Dimplex recently set up new

subsidiaries in Malaysia and India, and Australia and NewZealand are growing since it entered those markets four yearsago.“In Asia Pacific we are taking it step by step. As you put

down a footprint and become successful you can look at othermarkets in the region. Malaysia has come out of what we’vebeen able to do in Japan, as has New Zealand. Singapore is thenext area on our horizon,” says O’Driscoll.“Japan is a great country to do business in but, I believe,

largely ignored by Irish business people. To me, if you are in theexport business, of the two countries, China and Japan, thebiggest opportunity lies in Japan. China’s focus at the momentis more on exports than imports. You have got to work very hardin Japan to build up the level of trust needed but it’s worth it.”


DOING BUSINESS IN JAPAN

MANAGING director of Mitsui Sumitomo Reinsurance in DublinYoshihiro Tsuchiya believes the key areas for opportunity inJapan for Irish businesses include eco-business, pharmaceuti-cals, information technology, education and tourism.Mitsui Sumitomo Reinsurance was established in 1998 in

Dublin as a strategic overseas subsidiary in MS & AD InsuranceGroup (the largest non-life insurance croup in Japan) to writereinsurance business from Europe, Africa, the Middle East andAsia and has been successfully expanding operations to date,according to Tsuchiya.“The Japanese market is generally very competitive, especially

for quality and services. Irish companies also need to be clearlyaware of the business culture and regulations, which can be dif-ficult for overseas people,” he says.“On the other hand people are open to high quality goods or

services, which Irish companies are good at so I believe therewill be a good opportunity for Irish companies to do business inJapan.”Tsuchiya is currently chairman of the Japan Business Society

of Ireland, which was established in 1977 and currently consistsof 19 Japanese or Japanese-related companies, plus all theindividual members from the Japanese Embassy in Ireland,

including the Japanese Ambassador.“The main aims of the society are to promote mutual friend-

ship and share information amongst members; to support aJapanese supplementary school in Ireland; to co-operate withthe Japanese Embassy and assist its activities as necessary;and to collaborate and contribute to anything especially relatedto the Japan/Ireland relationship,” Tsuchiya explains.“Based on my experience I feel the Irish people and culture

have a good affinity with Japanese people and culture, so thereis a good chance that Irish companies can establish good andlong-term relationships with Japanese people and the marketoverall.“Although the impression of Ireland is good for Japanese

people, frankly Ireland is not a familiar country for Japanesepeople generally, so it could take time to make your businesspartners understand the Irish brand.“Also it is essential to invest enough time to establish rela-

tionships with key people or key companies. If you just seek aquick outcome it is not easy.“On the other hand once you successfully establish a good

relationship it would tend to promise a long-term and stableoutcome.”

Chairman of the Japan Business Society ofIreland Yoshihiro Tsuchiya explains the way inwhich Irish companies should approach entry tothe Japanese market

FORGINGlinks


COUNTRY STRATEGY

LIAM Casey, founder and chief executive of PCH International,says China is moving at an incredibly fast pace and Irishexporters have to keep up, continually evolve and stay relevant tobe competitive.PCH International started out as a sourcing company in Ireland

with operations in Shenzhen, China in 1996. The business grewfrom just one person in the first two years, offering sourcingservices, to more than 1,200 people today in China, Ireland, theUK, the US and South Africa, offering complete end-to-endproduct development and supply chain solutions.It creates, develops and delivers technology products for

leading brands and is now a leader in the accessories market forsmartphones, e-readers and tablets.“I’m still learning new things about China every day. As a

business person, you have to look for opportunities and you haveto go where the opportunities are – that’s what brought me toShenzhen over 17 years ago and why I am still here,” says Casey.“China is a long-term commitment and you have to be ready to

take risks and risk failure to achieve breakthroughs and success.

Most importantly, focus on people – your clients, their customersand hire the best people.”The opportunities in China are limitless and Casey believes Irish

companies should move quickly to sell consumer products there.“The middle class in China is expected to make up 75pc of the

population by 2050. That’s over 300 million people who can affordto buy luxury brands. Shenzhen, where PCH’s operationalheadquarters are now located, has the highest per capita GDP ofany city in China – people have money to spend and they have aphenomenal appetite for foreign brands.“Tourism, education, agriculture, information and

communications technology, and life sciences are all growingsectors.”Casey has witnessed a marked evolution in terms of doing

business in China since 1996. “In those days if you could find afactory, you were in business. Years ago, the China challenge wasa knowledge challenge. Today, it’s an execution challenge. You nolonger just have to know where to get things done, you have todo it quicker and better than your competitors,” he notes.

The business opportunities in China arelimitless, believes founder and chiefexecutive of PCH International Liam Casey

The Chinese


COUNTRY STRATEGY

“In the beginning, we were concerned about copyright and poorquality. But those challenges are now the exception rather than therule. The new China lies in design, quality, cleantech andsustainable supply chains, innovation, and in setting new worldstandards for global business.”With this in mind, PCH International opened a sustainable

packaging design centre of excellence operating from Shenzenand San Francisco in the US last August.In Shenzen, the centre of excellence has a material library, a

structural design engineering and quality test lab and productshowroom.Up to 20 new jobs are being created in the next year or so in

diverse roles including project managers, material expert supplybase managers, lab operators, print supplier managementspecialists and green practice experts.The packaging design team will work closely with PCH’s

existing cleantech team in developing sustainable packaging forexisting clients, new clients and also start-ups through the PCHAccelerator programme.“The high-end brands we work with all want beautiful packaging

for their products. At our sustainable packaging design centre, wedesign and create beautiful packaging that has the maximumimpact on the consumer and minimum impact on theenvironment,” Casey explains.“We evaluate everything from material sourcing, packaging

design, manufacturing and transport to final disposal. The centrealso offers clients access to our eco-friendly manufacturing

facilities for their products.”PCH has built up its market presence in China by focusing on

offering the best customer service, developing partnerships anddelivering peace of mind, according to Casey.In October 2011, it opened PCH China Direct, a 6,000 sq metre

facility also in Shenzhen, which enables brands to sell customised,personalised accessories and other products to into China.“PCH China Direct has helped us to offer global clients an entry

into the domestic China market. We are also catering for largeChinese brands looking to distribute and fulfil goods around China.The operation is performing very well,” says Casey.“The facility in Shenzen has a licence for domestic trading and

we offer the same services to PCH China Direct clients as toexporting clients. We have the capacity for about five million unitsa year.”Casey is very optimistic about the opportunities that China

offers, and thinks there has never been a more exciting time forIrish businesses to look at the market.“China used to be a place to make cheap products; then it

became a cheap place to make products. In our industry today, it’sthe most competitive place to make products and is fastbecoming the place to sell these products.“Of course you need to know why you’re doing business in

China and what it is you’re offering. Some companies get carriedaway by the thought of China’s 1.3 billion-strong population. Itmay sound obvious, but in such a huge market, clarity is veryimportant. You need to know if you want to make products or sellproducts and you need separate entities to do both.“Our business has grown organically and from word of mouth.

You can’t expect to get things done overnight in China, but ifyou’re patient you’ll find that it’s worth the time invested. A tip forIrish companies is that you can’t be afraid to fail – in fact you haveto fail at some things to be successful and break new boundaries.”Casey’s relationship with China isn’t just going in one direction.

He was appointed as Start-up Ambassador for China byEnterprise Ireland last year, which involves him assisting theagency to encourage Chinese entrepreneurs to choose Ireland asa location for their start-ups, particularly in the hi-tech space.“Chinese start-ups are thriving and they’re looking to overseas

markets for potential business opportunities. My role is toencourage them to choose Ireland as their preferred destination,”he says.“Ireland offers advantages such as a gateway to Europe, free

flows of information, capital and goods and soft skills such asinnovation, creativity, entrepreneurial spirit, and a highly educatedworkforce.“I think entrepreneurs appreciate having other entrepreneurs’

guidance on the challenges and opportunities in specific marketsand I believe the Enterprise Ireland ambassador programme isadding a lot of value.”Looking to the future and Asia generally, Casey says PCH

International’s focus, as always, is to offer the best customerservice possible. “We will have an increased focus on China as amarket and will look at new technology and product capabilities,further geographical expansion, offering a sustainable supplychain, and hiring the very best people we can find.”

‘China isa long-termcommitmentandyouhave tobeready to takerisksandrisk failure toachievebreakthroughsandsuccess’

HEAD of Asian partnerships at Dublin Institute of Technology(DIT) Professor Bing Wu believes one of Ireland’s advantagescompared to other countries that Chinese people appreciate isthe ethos and experience we have of educating our graduatesin a relatively short time (three to four years at bachelor’s level)to meet industry needs.Wu has been involved in collaborative partnerships in China

for over 10 years and believes the most important thing aboutdoing business there is to know the people and be known.“How you become known is through your product or service

quality and your sole aim should be to build up trust and friend-ship based on that. You can’t go into China saying you have aproduct or service and you want to sell it to them to make aprofit. You need to establish what the Chinese requirement isand customise your offering according to that,” he says.“As a nation, we Irish need to learn more about China as our

knowledge is limited. We do have business people workingthere but this is not enough. There is a lot of reliance on localagents and brokers – we need to be able to speak directly tocustomers ourselves.”DIT’s track record of collaboration in China goes back 10

years ago when it formed a strategic partnership with HarbinInstitute of Technology (HIT), one of the top nine higher educa-tion institutions in China.Having linked up with a number of other partners since, in

January of this year, it officially opened a new office in Haikouon the island of Hainan to facilitate the development of newstrategic relationships for DIT in China.“We have received EU funding to support our work with HIT,

which involves DIT trying to pass on our Irish ethos of industry-oriented practice and our high quality education assurancesystem to them,” explains Wu.

“Together with this, one of our programmes, the bachelorhonours degree in computer science, has been approved by theChinese minister for education to be offered in HIT. This is agreat achievement as it is the only Irish BSc (hons) programmeto be approved then by the minister. Our Chinese graduateshave done very well – for example the chairperson of theAssociation of Chinese Professionals in Ireland Hauran Guoworks in Datalex and is one of our graduates.”Something which Wu says is far more influential in a bigger

way than the HIT partnership has been DIT’s collaboration withthe Chinese government’s administration of foreign expertaffairs on the development of a new education model.“We ran training courses in Dublin for leaders in Chinese edu-

cation. The significance of this was that it came through a gov-ernment authority and we were viewed as experts in the field.“Last October, we ran another programme at DIT for Chinese

professors and lecturers looking at how institutions there couldpotentially meet the standard achieved here in terms of the timeit takes to do a bachelor’s degree. A researcher from the gov-ernment think-tank, the Academy of Educational Science inBeijing, was in attendance.“We know what we are good at in Ireland from an international

perspective – agriculture, marine products and some hi-techareas. Another area that we are not that well known, and in myview which is much more valuable, is creativity and innovation.“The Chinese are historically good at producing and copying

things but sometimes face issues in relation to keeping stan-dards high and managing this. Ireland is successful in thisregard. We can produce meat, biotechnology, finance, tourismand so on and maintain high standards by being dynamic withinnovation and creativity. We should harvest from this. We reallydo have a unique advantage in this area.”

Ireland has a unique advantage, especially when it comesto innovation and creativity, says Professor Bing Wu, headof Asian partnerships at Dublin Institute of Technology

ADVANTAGE

IRELAND


DOINGBUSINESS INCHINA

The Irish dairy farmer takes nothing for granted.

Not our temperate climate, our unpolluted waterways, our

rich grasslands nor our valuable dairy herds. These are

the building blocks of one of our most important national

assets, the Irish dairy industry.

The Irish Dairy Board also takes nothing for granted,

continually researching new markets and carefully

adapting our product lines to meet culturally diverse

market requirements. We are at the forefront of building

routes to market and seek new opportunities to deliver

Irish dairy goodness around the globe.

Whether as consumer-packed retail products under the

Kerrygold brand or as specialised ingredients, the Irish

Dairy Board’s extensive portfolio reaches consumers in

over 80 countries around the world.

As leaders in a global market, this is what Irish dairy

farmers have come to expect from the Irish Dairy Board.

And that is what we continue to do.

www.idb.ie | www.kerrygold.com

Always looking further afield...


INNOVATION

MICHEÁL Collins originally went to Singapore as an MBA studentaround eight years ago and decided to stay as he saw opportuni-ties for entrepreneurs. Having started out in 2006 with two people,his training company Prep Zone now employs 40, has an office inDubai and expects to enter the Chinese market in the second halfof this year.Since arriving in Singapore, Collins has served as executive

director of the Irish Business Association and president of theEuropean Chamber of Commerce there and was also chairman ofthe EU ASEAN Business Council.“We started out as boot-strappers and to date haven’t taken on

investment or debt. We thrived because we were fortunate that atthe time the costs of starting and doing business in Singaporewere far lower than they are today and we addressed direct needsnot sufficiently taken care of in the marketplace – although therewas and remains stiff competition,” he recalls.Prep Zone coaches people through exams and applications

processes for the world’s top MBA and undergrad programmes. Itrecently started new firm Business Test Methods, which createsentrance exams and evaluation processes specifically for executiveeducation using technology.When doing business in Singapore, Collins advises Irish busi-

ness people to come prepared. “Have a good track record to showfor your work and be open to door-opening projects that don’tmake you money. Coming as a foreigner with no track record todeal with Singaporean firms is a disadvantage you have to take inyour stride.

“Hiring people will be tough as there is effectively full employ-ment. The best Singaporeans generally prefer to work for estab-lished prestigious firms, or else the brightest will start their own.“Cost and talent volatility remain the biggest challenges to stabil-

ity in Singapore for small firms such as ours. Almost all our educa-tion staff in Singapore were recruited directly from top US universi-ties – we would not be able to source them locally.”In terms of deal making, Collins says to expect price to be a

deciding factor and presume you will be asked to maintain therelationship. “You can count on the regulatory framework to sup-port you and English is perfectly appropriate.”Singapore is a relatively small market, but it is one with a lot of

people with willingness to spend. In Prep Zone’s case, the educa-tion business worked well, says Collins, as people value educationhighly and Singapore is viewed as a place where people from otherAsian countries go to bring their education and careers to the nextlevel.Collins believes it’s not a country to use to develop other mar-

kets. “You could consider it as the first country if you have a multi-country strategy, however it’s becoming increasingly easier to setup and live in other ASEAN nations that are typically far cheaperplaces to live and operate.“Conversely of course the markets are less rich so consumer

products are a better bet in Singapore for SMEs and the emphasisshould be on premium goods. Singapore is a good centre for cor-porate services as multinational firms use it as a base for sales,operations, HR and finance.”

With his company Prep Zonethriving in Singapore, MicheálCollins plans to enter theChinese market later this year

Prepare to succeed


IT SERVICES

EIRE Systems is different from other market entry companies fromIreland as it originated and was founded in Japan, by MatthewConnolly and Paul Timmons, in 1996.As Connolly explains, they both went on the FÁS overseas

graduate programme around 20 years ago with Dublin Institute ofTechnology and stayed on to work as IT consultants in the net-working environment.They spent nine months developing their business idea and

working on it part-time and decided to set up the company oncethey felt the opportunity was there in terms of demand.EIRE Systems provides a wide range of IT services in the infra-

structure space, such as project work for clients moving buildings,deploying upgrades of Windows or dealing with disaster recovery.Currently employing around 100 people in Tokyo, EIRE Systems

has a further 50 employees in Hong Kong, Singapore andShanghai, and has done work in every major Asian city. Around65pc of the staff are Japanese, with the rest coming from differentcountries.It now has a couple of hundred clients, most of which are large

international companies. “We focused initially on the financial sec-tor and moved into supporting the pharmaceutical and technologysectors and have also done some work with retail and hospitalityclients,” says Connolly.One of the reasons EIRE Systems has grown in Japan has been

its western mindset with local ability to deliver solutions, which isparticularly important to international companies, he adds.“There is an impression of Japan being particularly advanced in

IT, but it isn’t true. It is in terms of electronics and advanced soft-ware gaming, but there are no famous Japanese IT companies thelikes of HP, Dell or Lenovo, and there are no Japanese softwarecompanies that are up there competing with Microsoft. Toshiba isbig now in terms of laptops, but this has been an add-on to itsoriginal business.“A lot of technology used by business in Japan comes from the

US. When we set up our company, the value for us over ourJapanese competitors was that they were stuck in their own wayof trying to sell old systems while we were deploying new net-works based on Microsoft and Novel, for which there were noJapanese equivalents.”In Connolly’s view the regulatory system in Japan

makes it relatively easy to do business there.“There are set rules that don’t change – there are no

backhanders to officials to get things done. If you followthe process you will achieve what you’re aiming to do.When trying to set up a company, for example, there arearound 30 documents you need to submit to the authorities,

but once that’s done it takes about three weeks to have yourcompany incorporated.“In China you might have the same 30 documents, but then the

authorities might ask for extra ones that weren’t on the list. It isevolving in terms of preparing its own regulations and how it doesbusiness.”In terms of adapting to the culture in Japan, Connolly says most

of it is about being sensible and polite and fitting in with whatpeople want; and not asserting yourself too much.He provides the following tips: “Make sure you have 200 busi-

ness cards and wear your new suit and are always on time. Gowith the flow, listen thoroughly and learn from what people say.You will get feedback but it could be during drinks and dinner laterand you might have to wait for a few visits to get it. There is noreason why people in Japan have to buy from you. You can’t havethe attitude of ‘this is my pitch, why didn’t they go for it?’.”

Doing business in Japan doesn’t have to be complex, explains EIRE Systems’co-founder Matthew Connolly

Route tomarket

‘There isan impressionofJapanbeingparticularlyadvanced in IT, but it isn’t true’


FUNDS

Chief executive of the Irish Funds IndustryAssociation Patrick Lardner provides an overview ofthe importance of Asia to Ireland in the funds area

Investmentcapability

THERE are many underlying markets and segments that combineto make up what we know as the Asian funds market. Thepotential size of the market in terms of population is clearlyimportant, but also the relatively low penetration of investmentfunds usage there, and an increasing number of locally basedinvestment managers who want to internationalise theirbusinesses will provide a range opportunities for our industry.During the past 20 years the industry in Ireland has been built

to a position of being globally recognised and respected on theback of our success in connecting investment managers withtheir end clients.We do this by providing the services that allow investment

funds to be established, operated and administered to thehighest standards. It is exactly this capability that we bring to thevarious Asian markets because international fund managerscontinue to want to attract Asian sourced capital and Irish funds,solutions and services that are globally recognised.But there’s another important aspect here and that’s the

potential for the industry in Ireland to help burgeoning investmentmanagers throughout Asia attract capital outside their homemarkets, much like we have done for managers from manycountries, notably from the US and UK.This ability to partner firms looking in either direction backed

by proven skills, capability and scale is a compelling propositionand one we are keen for all to be aware of.In recent years the rate of growth in demand for investment

management products in Asia has exceeded that of manytraditional western markets. This growth, while impressive, iscoming off a relatively small base. By way of example, accordingto PricewaterhouseCoopers, the assets under management offoreign fund managers in China is 2.3bn Yuan (€290m), which is arelatively low figure when you consider that the assets under

management of US mutual funds last year came to US$11.6trn(€9.1trn).Z-Ben Advisors estimates that the total market size of financial

products in China, as at 2010, was worth 92.5trn Yuan (€11.4trn),of which 71.8trn Yuan is in bank savings. Z- Ben expects mutualfunds to show the strongest growth among all financial productsin China by 2015, reaching 6.9trn Yuan (€850bn).We want to be a partner to a range of entities during this

period of growth – and beyond.

NEW DEVELOPMENTSIn Irish terms, it has been significant that we have seen newpartners from the region select Ireland over others. For example,Value Partners, one of Asia's largest asset management firms,launched its first Ucits fund through its Dublin base in June.Also, in 2012 we attracted our first fund promoter from

Malaysia, further strengthening its position as the leadingregulated centre for Islamic finance outside the Middle East.The CIMB-Principal Islamic Asset Management (CIMB-

Principal Islamic) Irish Ucits funds range became the firstMalaysian fund promoter to establish funds in Ireland.At the time of the launch the chief executive of CIMB-Principal

Islamic Noripah Kamso was quoted as saying: “Ireland is right forus as we believe it will provide global flavour to our products andbe the passport for international investors beyond Europe. Dublinis more cost efficient due to our present relationship betweenIreland and CIMB-Principal Islamic. This is also supported byexisting successful conventional funds in Dublin by ourshareholder, Principal Financial Group (PFG).”In addition to these successes it is apparent from recent visits

to the region that investment managers, regulators and tradeassociations have a good understanding of Ireland and its offering.

Indeed in Hong Kong we have met managers who were in theprocess of re-domiciling funds from the Cayman Islands to Ireland.

IRISH ENGAGEMENT WITH ASIAN FUND MANAGERSA local presence is critical and we achieve this in a number ofways. Our relationship with IDA Ireland has given us a presencein Singapore, Tokyo, Shanghai and Sydney to date, and this iscrucial in extending Ireland’s reach.Another important milestone in 2012 related to Hong Kong

where the Irish Funds Industry Association (IFIA) opened arepresentative office in partnership with the Irish Chamber ofCommerce there, headed by Conor O’Mara.Having a presence on the ground naturally makes it easier for

managers to find out about Ireland and what we can do for them.This is greatly assisted by a growing number of Irish fund industrycompanies who either have full-time staff on the ground inlocations like Hong Kong or who spend significant time in theregion on a regular basis.Finally, the embassies and consular staff around the world

have always been of tremendous support to us and the value ofhaving this cannot be underestimated in our promotion of Ireland.Following the announcement regarding the IFIA’s Hong Kong

representative office we had a delegation from Ireland visit theregion in November where, in addition to hosting seminars and

speaking at industry conferences, we met six of the top 10mainland Chinese fund managers who have a presence in HongKong. Between them they account for 41pc of all the mutual fundassets on the mainland and include firms such as China AssetManagement, E Fund, Harvest, China Southern Management andBosera.In addition to the work undertaken in Hong Kong, the IFIA and

member companies are regularly meeting managers in China,Japan, Taiwan, Malaysia, Korea and Singapore, showing themthe strength and real substance that exists in Ireland as both adomicile and a service centre for international funds.What is important now is that we engage regularly and in-

depth with these managers to create meaningful, long-termrelationships.

FUTURE PROSPECTS AND OPPORTUNITIESOne fundamental opportunity lies in rising wealth in the region,which is occurring against a backdrop of countries where thesocial net is still underdeveloped so people will want to makeprovision for pensions and healthcare.As the regulatory environment develops and encourages fund

investment, as it is doing in China at present, we see opportunity.Separately, ageing populations also provide a catalyst for

greater savings. Governments do not want to be faced withrapidly increasing retirement income related liabilities against adeclining base of working taxpayers and this is a serious issue.According to the UN’s Population Division, some 42pc of Japan’spopulation will be over 60 by 2050 and even China will see asignificant increase, with 30pc of its population being over 60 bythe year 2050.The rapid economic development in Asia brings an associated

deepening of capital and financial markets, which is alreadysowing seeds, allowing investment firms to be formed. Oncethese firms establish themselves and build credentialsdomestically, they will seek to grow overseas and, in doing so,will set up fund structures that will allow them to gather capitalinternationally. We want to make sure that they know what Irelandhas to offer them so when it comes to making that decision weare forefront in their minds.Also, from talking to those on the ground in Asia, another

important catalyst is the internationalisation of the Renminbi.While the range of opportunities that may manifest themselveswill only become apparent in time, Ireland should be thinking ofproviding a European base for operations.


FUNDS

‘As theregulatoryenvironmentdevelopsandencourages fund investment, as it is doing inChinaatpresent,weseeopportunity’


HIGHEREDUCATION

CHINA is one of a number of priority markets highlighted in theGovernment’s ‘Building Global Partnerships’ strategy for 2010–15,which focuses on the internationalisation of the higher educationsector in Ireland.According to Marina Donohue, manager education, business and

consumer services at Enterprise Ireland and head of Education inIreland, this has manifested itself in two ways since.“China is now the No 1 country of origin for international students

in Ireland, reaching 5,123 in 2011/12 and taking over from the US.[The total number of international students is around 26,000].“Student mobility and exchange are important aspects of the

China-Ireland relationship in higher education. Half of the Chinesestudents enrolled with Irish institutions are studying offshore.“The second piece is around strategy and institutional relation-

ships. Universities in Ireland and China have collaborated to providejoint degrees, which involve spending some time studying in bothcountries, or on research projects. There are now over 160 institu-tional relationships and this is growing.”While there was a lot of interest 10 years ago in forging alliances

between Ireland and China in education, this really only took off inthe past couple of years when Irish institutions became much morefocused and targeted, she continues.“They started opening offices and all of the universities have a

presence on the ground in China now. Institutes of technology andprivate colleges visit the market very regularly. Ireland has twoConfucious institutes – in University College Dublin [UCD] andUniversity College Cork – and Science Foundation Ireland is thisyear providing International Strategic Co-operation Award fundingto encourage further collaboration at research level between Chinaand Ireland.”In other recent developments, Dublin Institute of Technology

opened its first campus facility in China in February, in Hainan, andUCD was expedient in establishing the first international university

in Beijing a year ago when it signed a contract with BeijingUniversity of Technology to create Beijing-Dublin InternationalCollege.Having welcomed some students already, Beijing-Dublin

International College will initially admit 350 undergraduate studentsand plans to scale up rapidly to 3,000 by year four, with expansionalso into postgraduate training and executive education.Minister for Education Ruairi Quinn TD is leading an education

mission to Beijing and Shanghai in March, profiling Ireland as a des-tination of choice for Chinese institutions and students.“Competition is strong with UK, US and Australian universities

aggressively targeting the market and German universities are nowoffering engineering degrees and master’s through English,” saysDonohue.“Ireland is differentiating itself around safety and security around

education, the fact that it’s English speaking, is in the EU and thateducation has a good connection to industry. The aim is to get themessage across that it’s about more than just education; it’s aboutlife experience and career development.”Apart from China, priority markets for Education in Ireland are the

US, India and Malaysia since it launched in 2011.“India is at a different stage of development to China. There are

about 800 students in the Irish education system now from a totalof 200,000–300,000 who study in a year. This compares with500,000–600,000 in China, of which we have over 5,000. There isan opportunity to grow both markets further,” says Donohue.“We have been doing some work on the value of international

students to the Irish economy and have estimated that they con-tribute about €1bn on an annual basis in terms of fee income andwhat they’re spending on living here and family visits.“In Asia there are really encouraging trends in the whole area of

PhDs and science, technology, engineering and maths [STEM] forIreland.”

Competition is strong, but when itcomes to higher education Ireland isdifferentiating itself, says MarinaDonohue, manager education, businessand consumer services at EnterpriseIreland and head of Education in Ireland

Education destination

DIT offers over 150 programmes at bachelor’s, master’s anddoctoral levels from our four colleges:• Arts & Tourism• Business• Engineering & Built Environment• Sciences & Health

With students from over 85 countries around the world you areguaranteed a true international experience in the heart of Dublin,Ireland’s cosmopolitan capital city.

Our research activities are focused on real-world problem-solving,social and technological development, and on innovation thatadvances human knowledge and that makes real impacts on societyand economically.

Research is built around four key thematic research areas:• Information & Media Technologies• Materials Technologies• Environment & Health• Society, Culture & Enterprise

Close engagement both locally and internationally with society andthe economy and active collaborations with industry and academicinstitutions are essential components in everything DIT does. Inaddition to many institutional bilateral agreements, DIT is a memberof the European Universities Association (EUA) and the InternationalAssociation of Universities (IAU).

Being a student in DIT is not all about study – we have almost 150clubs and societies that offer everything from drama to soccer soyou can pursue your interests while studying. Located in the centreof Dublin, students enjoy a vibrant and diverse cultural experience.As a UNESCO designated City of Literature, European City ofScience (2012) and home to all major political, social and sportingorganisations, Dublin has something for everyone.

We look forward to welcoming you to Dublin and being a part ofDIT’s future.

Dublin Institute of TechnologyWith over a century of experience in teaching,learning and research, Dublin Institute of Technology(DIT) is one of Ireland’s largest publically fundeddoctoral awarding higher education institutions. Itcombines the academic excellence of a traditionaluniversity with professional, career-oriented learningand research. DIT specialises in developing graduatesfor productive leadership roles both nationally andinternationally. The core values reflected in its missionemphasise student-centred learning, usefulknowledge, rigorous processes of discovery andcritical enquiry while encouraging entrepreneurshipand promoting diversity.

Dublin Institute of TechnologyInternational Office143–149, Rathmines Road, Dublin 6, IrelandTel: +353-1-402-3436Email: [email protected]: www.dit.ie/international


CONSUMER PRODUCTS

Crystal kingMANAGING director of Tipperary Crystal Declan Fearon saysthat one of the most interesting things for his company tolearn in recent months is that Beijing and Shanghai are liketwo different continents when it comes to the appetite forwestern consumer brands.

Fearon’s son David is based in Shanghai and his daughterJulianne is in Beijing. Both are learning Mandarin and theirpresence on the ground has proved invaluable in terms ofmarket insights.

For example, David has learned through friends in Shanghaithat there is a massive appetite for Jameson and Irishwhiskey generally, which young people drink in preference towine. He feels that because of this there is a growinginclination to drink whiskey from nice crystal glasses.

“Wine is still very expensive and there are a lot of fake andreused bottles. There is a market for second-hand high

quality labelled wines. As a result young people are cautiousabout what they drink and the only drink they feel really safewith is something they can identify as not being a fake or elsebeer,” says Fearon.

“We made the mistake of entering the market with crystalwine glasses when we should have started with whiskey,spirit or ‘gam bay’ style glasses, which are more part of theChinese culture. We need to make items specific to culturaluse. We are now working with groups that sell fine whiskeysto market pre-packed boxes, including our glasses.

“While I hold my hand up in terms of being wrong aboutthis initially, a lot of the things we’re doing in China we’re veryhappy with. It’s like doing a jigsaw. We now have somesemblance of where we’re going. China is not going tohappen quickly for anyone, it really is a big commitment, butthe opportunity is massive. A lot of firms have tried and

Finding partners and engaging with consumers is necessarywhen entering the Chinese market, advises Declan Fearon,managing director of Tipperary Crystal

Australian Open winnerLi Na with the trophyproduced by TipperaryCrystal


CONSUMER PRODUCTS

walked away. It takes time and endurance and you need tohave representatives living there.”Tipperary’s story in China began in 2009 when Fearon

contracted Ivory Capital in Singapore and Morgan Stanley inHong Kong to find a suitable partner for the company.Nearly two years later and after around 70 meetings, he made

a connection with the largest manufacturer of crystal jewelleryin the world – Neoglory, which is owned by Linda Zhou, one ofthe richest women in China.“Neoglory has 500 furniture shops and 500 jewellery outlets

in China and Zhou saw a parallel in what she was doing andwhat we planned to do. In China, you must show that you’rewilling to listen. Zhou came to Europe to view our operation; wecame up with business plans and memorandums ofunderstanding. You can’t achieve things overnight in China.They like to look into you, understand you and see if you are asuitable person for them to deal with. It’s not uncommon inChina for someone to think for a year and do a deal in a day,”Fearon notes.A number of Neoglory stores carrying the Tipperary Crystal

brand opened in quick succession in China, but then after muchinvestment in the relationship the strategy had to change in theautumn of 2012.“We have recently very amicably moved away from

Neoglory,” explains Fearon. “This came about because manyprojections promised weren’t delivered and things weren’thappening at the pace we had agreed. It became obviousduring the summer at meetings that Neoglory’s focus was moreon its core businesses of jewellery and property development.They were more interested in going back to basics, notdiversifying as planned.“Things had taken a rapid turn, so we parted company.

However, only last month [February] we found another partner, agroup in Xian which owns 12–14 shopping malls in north-westChina. This involves a totally different model than the one weoriginally planned. However, we now have our own warehouseand office run by David in Shanghai where everyone cancommunicate in Chinese, which will make it easier. We areopening our first store in Xian this spring.”The single biggest obstacle when entering China is not your

product, but the cultural barriers to getting placement in storesor convincing your retailer or consumer that this is somethingthey want, according to Fearon.“There is a perception that

Chinese people will payanything if they get a westernbrand and are all consumedby anything expensive. Thereality is Chinese consumersare no different to theirEuropean counterparts in thatprice is very important to

them. Brand dictates certain criteria – they may want heavilybranded products but they don’t want to buy a European brandmanufactured in China. It needs to be clearly identifiable ashaving European traits and manufactured in Europe.“I believe there’s been a change, in that there is a bit more

patriotism coming into the Chinese mindset. For example, fiveyears ago buyers from all over the world would have populatedthe Guanzhou consumer goods trade fair twice a year, buttoday a significant number of buyers are Chinese themselves.This tells us that Chinese consumers are more willing to buysomething made in China now.”In the consumer products sector, new offerings will be copied

very quickly. One of the attractions from the outset for TipperaryCrystal was that the Chinese don’t know how to make crystal,and don’t necessarily want to.“We thought this was a huge attraction as a selling feature

but soon realised we had to create the desire for the product. Itwasn’t enough to say we’re unique; we needed a brandambassador identifiable to the Chinese people or else spendmillions on advertising.“It was helpful to us in this regard when Tipperary Crystal

sponsored the Australian Open and we got permission to showwinner Li Na with the trophy we had produced. You need thatkind of lead in with a new brand.”Tipperary Crystal first started to evaluate the Chinese market

when Waterford Crystal got into difficulties four years ago.“The group that took Waterford Crystal over – KPS Capital –

had nearly €1bn in stock at retail value and this started cominginto the market at discounted prices,” Fearon says.“As a consequence, we started to look elsewhere and

decided the only place to go was east. Our original plan was toopen a crystal factory in Asia. However, after a while werealised the simplest thing was to roll out a retail programmewith the option of opening a factory later when we saw whatthe demand was.”Tipperary Crystal currently employs 10 full-time people and

10 contracted staff. For any Irish companies consideringentering the Chinese market Fearon has this to say: “You canonly genuinely do it if you follow a similar path to the one wehave, ie find partners and engage with consumers out there. Ifyou think you can do it your own way, you’re digging a big holeand you might as well throw your money into it.”

‘Thereality isChineseconsumersarenodifferent to theirEuropeancounterpartsin thatprice is very important to them’

Positiveprospects

THE Japanese economy showed signs of a moderate recovery in2012, with domestic demand acting as the driving force forgrowth, led by the demand for reconstruction after the previousyear’s Great East Japan Earthquake.Following the general election in late 2012, there was a

change of government. To put an end to Japan’s prolongeddeflationary trend and return the economy to a path ofsustainable growth, the new administration made public athree–pronged strategy consisting of bold monetary policy,flexible fiscal policy and a growth strategy that encouragesprivate sector investment.In January 2013, emergency economic measures for economic

revitalisation were announced and are now in the process ofimplementation. Also, the administration and the central bankissued a joint statement for policy co-ordination.These measures, helped by the improved economic situation

in the US and Europe, have started to reinvigorate the Japaneseeconomy. Although it is still at an early stage, marketexpectations are growing and the business world is alreadyshowing signs of revival.

BUSINESS SECTOR OPPORTUNITIESAs a major developed nation and the world’s third largesteconomy, Japan has played a central role in the global economy.With its well educated population and highly skilled workforce,Japan is the second highest spender on research anddevelopment in the world.Its large domestic market, with a population of 127 million,

provides foreign companies with great business opportunities. Inrecent years, Japan is also becoming increasingly important as agateway to the rapidly emerging Asian market. Talks are nowunderway between Japan and the EU on concluding aneconomic partnership agreement, which will greatly contribute tothe further expansion of trade and investment.Though the Japanese market is a mature and developed one,

it is often said that once foreign enterprises enter it, they canenjoy a long-lasting relationship with local partners, based uponmutual trust.


profile JAPAN

‘Japan is also becoming increasinglyimportant as a gateway to therapidly emerging Asian market’


profile JAPAN

NATIONAL FLAGThe Japanese language name for Japan is ‘Nippon’ whichliterally means ‘origin of the sun’. The national flag of Japanis called the Hinomaru (Sun Circle), and it has been used asa symbol of Japan since the 16th century.

■ NATIONAL DAY: 23 December (Emperor’s birthday)■ DATE WHEN DIPLOMATIC RELATIONS ESTABLISHED

BETWEEN JAPAN AND IRELAND: 5 March 1957

■ National population: 127.46 million(Source: Ministry of Internal Affairs andCommunications, as of 1 January 2013)

■ Top five cities and population of each(Source: Ministry of Internal Affairs andCommunications, as of 1 October 2010):1) Tokyo (8.95 million)2) Yokohama (3.69 million)3) Osaka (2.67 million)4) Nagoya (2.26 million)5) Sapporo (1.91 million)

■ Area: 362,220 sq kilometres (Source:Japan Statistical Yearbook 2013)

■ Currency: Yen■ Religion/s: Shinto, Buddhism etc■ Language/s: Japanese■ Amount of bilateral trade with Ireland(Source: CSO, 2011):1) Amount of Irish exports to Japan:US$4,581m

2) Amount of Irish imports from Japan:US$2,059m

Note: Value of exports and imports basedon the average exchange rate 2011

■ GDP (nominal): US$5,867bn (Source: WorldBank, July 2012)

■ GDP (purchasing power parity (PPP)):US$4,444bn (Source: IMF, 2011)

■ Real GDP growth (Source: IMF WorldOutlook, October 2012, January 2013):- 4.5pc (2010)- 0.6pc (2011)- 2pc (2012 estimated)- 1.2pc (2013 estimated)

■ GDP per capita: US$45,903 (Source: WorldBank, 2011)

■ GDP per capita (PPP): US$34,314 (Source:World Bank, 2011)

■ GDP share of world total (nominal): 8.4pc(Source: World Bank, 2011)

■ GDP sector breakdown: Agriculture (1pc),industry (25pc), services (74pc) (Source:Cabinet Office, Government of Japan, 2011)

Japan and Ireland have developedtraditionally friendly relations, includingclose economic ties. The people of bothour countries are known for theirhospitality, and I think we haveestablished a good co-operativerelationship in a wide range of differentfields.There are about 50 Japanese

companies currently operating in Irelandin industries such as pharmaceuticals,

financial services and aircraft leasing, while in Japan around 40 Irishcompanies are operating in such areas as electrical goods, aviation,financing, medical devices and software.Being one of the nations with a mature economy and ageing

population, Japan aims to sustain and develop its economy by furtherstrengthening its economic ties with other countries around the world.This will mean increased business opportunities for Irish companies intheir specialist areas such as the environment, energy, medicaldevices, health and food.To deepen our partnership still further, I would like to work together

with Irish and Japanese friends, in particular to expand the humanexchange between Japan and Ireland at all levels from the grassrootsto high-profile visits.

Key facts...

AMBASSADOR INTERVIEWH.E. Chihiro Atsumi

Juggernautof growth

AS an economy, China is a ‘juggernaut of growth’, which isexpected to overtake the more mainstream markets and becomethe largest economy in the world in 38 years’ time, according to areport published by HSBC, ‘The World in 2050’.Latest figures from the Chinese embassy in Ireland show that it

currently ranks as the second largest economy in the world at themoment with GDP of $8.2trn, having grown by 7.8pc last year.Its main industries are mining and ore processing; metals;

machine building; textiles and apparel; petroleum and chemicals;cement; consumer equipment; and transportation equipment.Exports from China increased by 8.9pc in 2012 to reach

$2.049trn, with the main export destinations being the US (17.2pcof the total), Hong Kong (15.8pc), Japan (7.4pc), South Korea(4.3pc) and Germany (3.2pc).Meanwhile, import volumes rose by 4.3pc last year to reach

$1.818trn. The main exporters into China are Japan (9.8pc),South Korea (9.3pc), the US (7.3pc), Germany (5.1pc) andAustralia (4.7pc).Over 110 Irish companies are currently operating 241 projects

in China. Irish investment in China amounted to $694m whileChina’s investment into Ireland amounted to $150m in 2012,according to the Chinese Embassy.There is now considerable interest in Ireland from China, which

culminated in the reciprocal State visits, that of Vice-Premier XiJinping to Ireland and the follow-on Taoiseach-led trade missionto Shanghai and Beijing in 2012.Irish ministerial visits are continuing. Minister for Health James

Reilly TD signed a Memorandum of Understanding (MoU) with theChinese health minister Chen ZHU as part of his official visit tothe People’s Republic of China last September and Minister forEducation Ruairi Quinn TD is due to go to there in March.The main areas of co-operation outlined in the MoU on health

include health regulation; e-health and telemedicine; medicalprofessional training; health promotion; maternal and child health;hospital standards; and traditional Chinese medicine.An EU-China summit has been scheduled for late 2013 and the

EU has been assessing its priorities for its trade relationship inadvance of this event. Trade between China and the EU wasdown 3.64pc in 2012 to reach $546.4bn.

China will be a key market for Irish exports up to 2030, as itovertakes France and Japan to become Ireland’s fourth largestexport destination, according to HSBC’s latest GlobalConnections trade forecast for Ireland.This is evidenced by forecasted growth in exports to China of

11pc per annum in the period 2016–2030.Irish exports to China were up 2.5pc last year to $3.8bn,

marking the sixth year as Ireland’s biggest trade partner in Asia. Itwas also the fourth year that there was an Irish trade surplus withChina. Imports from China were down by 2.4pc to $2.1bn in2012.Ireland’s main exports to China include integrated circuits;

pharmaceuticals; printing and binding machinery; agriculturalgoods; and data processing equipment. Its main imports fromChina include data processing equipment; pharmaceuticals;shoes; furniture and parts; and phone sets and parts.

BUSINESS SECTOR OPPORTUNITIESChina sees Ireland as being well positioned in European terms asit is embedded in market of 500 million people and has taxadvantages, the English language and the right time zone,according to Alan Duffy, managing director and Ireland head,corporate banking, HSBC.Duffy highlights agri-food as a particular area of opportunity

now for Ireland. “Food is the new scarce commodity of the 21stcentury. Dietary changes in the China region are happening at arapid pace and moving more towards meat and dairy, which isplaying right into the space Ireland is strong in.“The fact that Ireland produces 15pc of the world’s infant

formula and has no issues of contamination is of large interest toChina, following its well publicised problems in that area.”China’s population is ageing rapidly and because of its one-

child policy, dependency levels are changing. At the same timewage levels are increasing.“Ten years ago 90 million people entered the Chinese

workforce, in the next decade this is expected to be five million.Those workers will have to bear the brunt of an ageingpopulation. This trend will increase demand for medical devicesand diagnostic equipment. Ireland is already well positioned in


profile CHINA

ECONOMIC OVERVIEW AND BUSINESS OPPORTUNITIES


profile CHINA

Since China and Ireland establisheddiplomatic relations in 1979, thebilateral ties based on mutualrespect and equal treatmenthave developed smoothly. Therelationship has become a modelof friendly co-existence forcountries that have differentterritory sizes, cultural traditionsand social systems. In 2012, China andIreland established a strategic

partnership for mutually beneficial co-operation, which marked ahistoric opportunity for the bilateral relations.The Embassy of the People's Republic of China is committed to

promoting exchanges and co-operation between the two countries,deepening mutual understanding between the two peoples andproviding convenient and efficient consular services.

AMBASSADOR MESSAGEH.E. Luo Linquan

NATIONALFLAGThe red represents the communistrevolution; the five stars and their

relationship represent the unity of the Chinesepeople under the leadership of the CommunistParty of China (CPC). Sometimes, the flag isreferred to as the ‘Five-star Red’.

■ NATIONAL DAY: 1 October■ DIPLOMATIC RELATIONS ESTABLISHED WITH

IRELAND: China and Ireland signed theCommunique on the Establishment of DiplomaticRelations on 22 June 1979

this area, for example, through medical devices cluster in Galway,”says Duffy.CEO of Dublin company System Dynamics Tony McGuire noted at

a conference in Chengu, Sichuan that China produced almost sevenmillion graduates this year, many of them in engineering andtechnology.“It is estimated that by 2030 China will be producing 30pc of the

world’s graduates. There is no doubt that with such numbers oftechnology graduates, we will soon see them offering high valueservices to companies worldwide.”Partnering with Chinese technology companies that want to

develop their markets in Europe is an opportunity for Ireland, hecontinued.“The Chinese government and, as a direct result, Chinese industry

look very favourably on Ireland. This gives Irish companies a greatopportunity to lead the way in forming partnerships with the emergingChinese technology companies and to develop mutually beneficialbusinesses in Europe.”

■ National population: 1.3 billion■ Area: 9.6 million sq kilometres■ Currency: Yuan■ Religion/s: Buddhism and Taoism■ Language/s: Standard Chinese, Mongolian,Tibetan

■ Bilateral trade with Ireland: US$5.89bn in2011

■ Irish exports to China: US$3.8bn■ Chinese exports to Ireland: US$2.1bn■ GDP: US$ 8.2tr, second in world■ GDP (purchasing power parity (PPP)):US$ 11,299.787bn

■ Real GDP growth: Average 10pc for past 30years, 7.8pc in 2012

■ GDP per capita (current prices): US$6,100■ GDP breakdown by sector: Agriculture(10.1pc), industry (45.3pc), services (44.6pc)

■ Inflation (CPI): 2.6pc■ Inward FDI: US$111.7bn

Key facts...

Taoiseach Enda Kenny TD speaks withVice-Premier Xi Jinping of China during theirmeeting in Beijing, China in March 2012

Propelling

WITH a GDP of more than US$1trn, Indonesia is the largest economyin Southeast Asia. Its economy has recorded strong growth over thepast few decades, and in recent years the firm pace of economicexpansion has been accompanied by reduced output volatility andrelatively stable inflation.Indonesia’s economy grew by 6.23pc in 2012, the Central Bureau

of Statistics (BPS) announced recently. Almost all sectors in theeconomy recorded growth over 5pc, except for agriculture, live-stock, forestry and fisheries (3.97pc), as well as mining and quarry-ing (1.49pc).The highest growth recorded was in the transportation and com-

munication sector (9.98pc). From the expenditure side, domesticconsumption remained the biggest contributor (55pc), followed byinvestment (33.2pc). Investment recorded the highest growth of9.81pc in 2012, while domestic consumption grew by 5.28pc.From 2000 until 2012, Indonesia’s annual GDP growth rate aver-

aged 5.4pc, while over the past five years the GDP growth on aver-age was 6pc, a remarkable feat in the face of a global economicslowdown.Indonesia's economic performance has been shaped by govern-

ment policy, the country's endowment of natural resources and itsyoung and growing labour force.Prudent fiscal stewardship is the keyword of Indonesia’s success

story, which focused on reducing the debt burden, where the debt-to-GDP ratio has steadily declined from 83pc in 2001 to less than25pc by the end of 2011.Indonesia has a large resource sector, where oil and gas produc-

tion accounts for around 40pc of mining and utilities output and1.5pc of global crude oil and natural gas production.It is an important global producer of coal, accounting for over 4pc

of global production in 2010, while it also a significant producer of anumber of other commodities, accounting for 27pc of global tinextraction in 2009, 15pc of nickel extraction and 6pc of copperextraction.Indonesia is the fourth most populous nation in the world, with

almost 240 million people. The dependency ratio – the number ofchildren and elderly relative to the working age population – is lowand the working age population has been rising. In addition, theeducational attainment of Indonesia's population has also risenmarkedly over recent decades. These demographics have provideda boost to GDP growth that should continue for much of the nexttwo decades.

BUSINESS SECTOR OPPORTUNITIESImportant business opportunities in Indonesia exist in several keysectors, ranging from plantation, mining, real estate, electronics andpharmacy to food.Indonesia is aiming to build around 20,000 kilometres of roads,

15,000 MW of power plants, ports, oil refineries, as well as othersupporting infrastructure for the next five years with an investmentvalue of around US$160bn.Last year, the Indonesian government launched a new round of

tax incentives aimed at boosting downstream investment, wideningthe floor for 129 business sectors, including agro processing,renewable resources, infrastructure as well as tyre and lubricant oils,to be eligible for the so-called tax allowance.Significant and growing markets include agri-business, banking

services, education and professional training, clean energy, andtelecommunications technology. The mobile internet market andcellular services also offer an excellent opportunity.


profile INDONESIA

ECONOMIC OVERVIEW


profile INDONESIA

AMBASSADOR INTERVIEWH.E. TM Hamzah Thayeb

Key facts...

NATIONAL FLAG: The design of the Merah Putih, or red-and-white,national flag of Indonesia, is two equal horizontal bands, red on top and whiteat the bottom. The red stands for courage and represents the human body,while the white stands for purity and represents the human soul. Together itstands for a complete human being, one that is pure and courageous.

■ NATIONAL DAY: 17 August (Independence Day)■ DATE WHEN DIPLOMATIC RELATIONS ESTABLISHED BETWEEN

INDONESIA AND IRELAND: 4 September 1984

■ National population: 237.641,326 million(2010 census)

■ Top five cities and population of each(2010)- Jakarta (capital): 9.6 million- Surabaya: 2.76 million- Bandung: 2.39 million- Bekasi: 2.33 million- Medan: 2.09 million

■ Area: 1,904,569 sq kilometres■ Time zone: GMT+7■ Currency: Rupiah■ Religion/s: Islam, Christian, RomanCatholic, Hindu, Buddha, Confucianism

■ Language/s: Bahasa Indonesia (nationallanguage)

■ Amount of bilateral trade with Ireland:US$183.644m (2011); US$153,239m(January–October 2012)

■ Amount of Irish exports to Indonesia:US$107.875m (2011); US$96.539m(January–October 2012)

■ Amount of Indonesian exports toIreland: US$75.769m (2011);US$56,700m (January–October 2012)

■ GDP: US$ 846.832bn (2011)■ GDP (purchasing power parity (PPP)):US$1.123trn (2011)

■ Real GDP growth (2010, 2011, 2012 andprediction for 2013)- 2009: 4.63pc- 2010: 6.20pc- 2011: 6.46pc- 2012: 6.23pc- 2013: 6.8pc (est)

■ GDP per capita (current prices): US$3,494 (2011)

■ GDP per capita (PPP): US$4,636.20(2011)

■ GDP sector breakdown (percentagecomposition for agriculture, industry andservices)- Agriculture: 14.3pc- Industry: 46.9pc- Services: 38.8pc

There are many similarities between Indonesia andIreland in terms of values. We are hard workersand, like the Irish people, Indonesians attach greatimportance to their family. Indonesians are hos-pitable, as the Irish are courteous and welcomingto strangers. Indonesians would also like to knowas much as possible about their counterparts,sometimes over lunch or coffee; in the way that theIrish get to know their colleagues over a pint. AnIndonesian likes to bargain as much as an Irishmanis an astute negotiator.

In work or personal life, Indonesians would put a lot of emphasis on respectingtheir seniors. We put more emphasis on patience, deliberations and consensuswhile preferring to avoid conflicts and disagreements. Additionally, taking photo-graphs is viewed as a way of honouring someone; so don’t be surprised if after abusiness meeting an Indonesian businessman asks to take a photograph withyou.Indonesia offers a multitude of opportunities for Irish businesses. An example

would be the opportunities provided by the Master Plan for the Acceleration andExpansion of Indonesia’s Economic Development (MP3EI), which was launched bythe government of Indonesia in May 2011.The MP3EI aims to propel Indonesia into the top 10 economies and raise per

capita income from US$3,000 to US$15,000 by 2025, partly by establishing six eco-nomic corridors based on the comparative advantage of the different regions ofIndonesia. The total investment required for the six corridors is Rp4,012trn(US$445bn).The MP3EI identifies eight primary programmes and 22 primary activities as the

focus of national development. The eight primary programmes are agriculture,mining, energy, industrial, marine, tourism, telecommunications and the develop-ment of strategic areas. The primary activities are shipping, textiles, food and bev-erages, steel, defence equipment, palm oil, rubber, cocoa, animal husbandry, tim-ber, oil and gas, nickel, copper, bauxite, fisheries, tourism, food and agriculture,the Greater Jakarta area, the Sunda Straits strategic area, transportation equip-ment, and information and communication technology.Currently Indonesia is not that known in Ireland, while Indonesians would only

be familiar with certain aspects of Ireland such as certain famous products likeGuinness.I believe that a closer relationship between the two countries and its people can

only be strengthened through more frequent contacts, be it between governmentofficials, businesses or people-to-people contact. This would not only result ingreater understanding of each other’s culture and frame of mind, but also createavenues for more mutually beneficial co-operation between the two countries.

Leading by example

WITH a vibrant economy and top-notch industries, Korea hasgrown from the up-and-coming country of Asian tiger days into anestablished leader in East Asia.A member of the G20 and the OECD, Korea is the 15th largest

economy in the world and ranks ninth worldwide in terms oftrading volume. In 2012, Korea became the seventh member of theexclusive ‘20-50’ club, a term referring to just a handful of countries(the US, Japan, France, Germany, Italy and the UK) that havesizeable populations (over 50 million) and yet maintain a per capitaincome of over US$20,000.Innovation and open trade are the driving forces of the Korean

economy. It is a key player in sectors such as information andcommunications technology (ICT), electronics, semiconductors,automobiles, shipbuilding, steel, and petrochemicals.The only Asian country to have established free trade

agreements (FTA) with both the EU and the US, Korea has a globalFTA network encompassing 45 countries, or 61pc of the total worldeconomy.In particular, the Korea-EU FTA took effect in 2011, offering

greater two-way access for both Korean and European (Irish) firms.As a hub of East Asia, with major East Asian cities such as Tokyo

and Beijing all within a two-hour flight, Korea presents excitingopportunities for those entering the East Asian market.

BUSINESS SECTOR OPPORTUNITIESSituated at the heart of transportation networks in East Asia, Koreais an ideal location for Irish companies to establish a foothold in the

region. Irish businesses will have at their disposal a superb talentpool and sophisticated domestic market with high purchasingpower. In the Ease of Doing Business Index generated by theWorld Bank that surveyed 183 economies, Korea ranked fifth in theworld and the third in East Asia, only behind Hong Kong andSingapore.Irish businesses can also expect to forge vital partnerships with

leading Korean firms in key sectors. Here are some examples ofthe country’s flagship sectors:

■ Automobiles: Producing a total of 4.66 million vehicles in2011, the Korean automobile industry ranks fifth in the world.Hyundai and Kia have manufacturing facilities abroad, includingin Europe.

■ ICT: In 2011, Korea’s IT industry production volume reachedUS$271.7bn. Global demand for smartphones, smart TVs andtable PCs is set to propel continued growth of Korea’s ICTindustry.

■ Display: Korea claimed the No 1 position in the world for thesecond consecutive year, taking 51pc of the global market forlarge LCD panels and 87pc of the market for OLED TVs.

■ Semiconductors: Korean companies are particularlycompetitive in the Dram (dynamic random access memory)sector, with its global market share standing at 65.7pc.

■ New and renewable energy: Korea’s new and renewableenergy production jumped nearly 60-fold from US$120m in2004 to US$6.99bn in 2010.


profileKOREA

ECONOMIC OVERVIEW


profileKOREA

AMBASSADOR INTERVIEWH.E. Chang Yeob Kim

NATIONAL FLAGCalled Taegeukgi, the Korean flag has itsroots in traditional Korean philosophy on theorigin of the universe. In the centre, blueand red half-circles, symbolising the cosmicforces of ‘yin’ and ‘yang’ respectively, arejoined together to form a whole circle, areference to the principle that the universeevolves from the fluid interaction andharmony between two contrasting forces.The four trigrams surrounding the circleembody the four universal elements:heaven, earth, fire and water.

■ NATIONAL DAY: 3 October■ DIPLOMATIC RELATIONS ESTABLISHED

BETWEEN KOREA AND IRELAND: 4October 1983

■ National population: 50 million(2012 est)

■ Top five cities:Seoul (10.4 million), Busan (3.6million), Incheon (2.8 million), Daegu(2.5 million), Daejeon (1.5 million)

■ Area: 100,460 sq kilometres■ Curency: Won■ Religions: Buddhism (24pc),Protestantism (23pc), Catholicism(8pc), other (0.8pc), no religion(44.2pc) (2005 census)

■ Language: Korean■ Amount of bilateral trade with

Ireland (KOTRA)– Korean exports to Ireland:US$356m (2011), US$324m (2012January– October)

– Irish exports to Korea: US$719m(2011), US$646m (2012 January–October)

– Total volume of trade: US$1,075m(2011), US$970m (2012 January–October)

Despite the great distance that sets them apart,Korea and Ireland have common threads of historythat bring the two cultures closer together. BothKoreans and the Irish have struggled to preservetheir national identities in the past, and share thesame resilient spirit and pride in their heritage. Atthe same time, the two countries are among themost open countries in the world, fully engaged inglobal commerce and trade, and it is no surprisethat both Koreans and the Irish place greatemphasis on hospitality and openness.

Not blessed with natural resources, both Korea and Ireland are destined to seeknew engines for growth in human resources and in the knowledge-basedeconomy. Just taking a look at the Korean case – of the top seven countries thatinvest heavily in research and development (R&D), Korea tops the list in terms ofthe ratio of R&D investment to GDP. In this respect, I believe our two countries canharness their potential for co-operation, especially in areas such as ICT,biotechnology, nanotechnology, renewable energy and environmental sciences.A stronger community in Ireland and likewise a strong Irish community in Korea,

each with sizeable numbers, will play a key role in bringing our two countriestogether. This community will also help nurture specialists who understand theculture and language of each other’s country.The embassy will continue to strongly support Korean language classes in

Ireland and organise various cultural events around the year to make Koreanculture more accessible to the Irish public.

Key facts...

Country inmotionTHE Indian economy is characterised by strong macrofundamentals and good performance, though clouded byslowdown in growth in the current year with continuing concernabout inflation and a sudden increase in uncertainty about theglobal economy.The objective of faster and inclusive growth and the initiatives

taken have resulted in substantial progress towards bothobjectives. Inevitably, there are some weaknesses that need tobe addressed and new challenges that need to be faced.Some of the challenges themselves emanate from the

economy’s transition to a higher and more inclusive growth path,the structural changes that come with it and the expectations itgenerates. There are external challenges also arising from thefact that the global economic environment is much lessfavourable. These challenges call for renewed efforts on multiplefronts, learning from the experience gained, and keeping in mindglobal developments.The Eleventh Five Year Plan (2007–2008 to 2011–2012) had

aimed at achieving faster and more inclusive growth. Rapid GDPgrowth, targeted at 9pc per annum, was regarded necessary fortwo reasons: first, to generate income and employmentopportunities that are needed for improving living standards forthe bulk of the population; and second, to generate resourcesfor financing social sector programmes, aimed at reducingpoverty and enabling inclusiveness.The economy has performed well on the growth front,

averaging 8.2pc during 2007–2011. Growth in 2011–2012 wasoriginally projected at around 9pc, continuing the strong reboundfrom the crisis, which saw an 8.5pc growth in 2010–2011.Instead, the economy actually slowed down in 2011–2012, a

phenomenon common to all major economies. Measures

contemplated to revive growth to healthier levels include reigningin the fiscal deficit, addressing energy subsidies, liberalisinginward foreign investment and rationalising the tax structure.

BUSINESS SECTOR OPPORTUNITIESIndia’s growth story led by strong domestic consumption, highsavings and investment rate has created a huge market fordomestic and international businesses. No sector is leftuntouched by booming demand and new businessopportunities. The shining stories are in the telecom andautomobile sectors.In order to sustain the high economic growth, improvement in

infrastructure is one of the focus areas for the government.Development of hard infrastructure in the form of roads, airports,seaports, power plants, transport networks, communicationnetworks and soft infrastructure in the form of a skilled workforce presents large opportunities for businesses to profit from.In addition, economic growth has also created demand in thecapital goods sector, which is needed for creating manufacturingcapacities. This demand for industrial goods has resulted increating a market for commercial and business services, such asdesign services, automation, ICT, financial services etc.India’s imports grew at 32pc in 2011–2012, with the highest

growth rates being experienced by project goods (42pc),machinery (25pc), chemicals (25pc) and electronic goods (23pc).The increasing focus on clean technology, renewable energy,energy efficiency and environmental services is the driver forfuture demand for products and services in these areas.The business prospects in specific sectors are detailed at the

weblinks www.ibef.org/industry.aspx andwww.investindia.gov.in/?q=investment-opportunities.


profile INDIA

ECONOMIC OVERVIEW


profile INDIA

NATIONAL FLAGThe saffron colour denotes renunciation of disinterestedness,indifference to material gains and dedication to work. The whitein the centre is light, the path of truth to our conduct. The greenshows our relation to soil, our relation to the plant life on whichall other life depends. The Ashoka Wheel represents thedynamism of a peaceful change, virtue. There is life in movementand death in stagnation, therefore, it also denotes motion.

■ NATIONAL DAYS: 26 January (Republic Day); 15 August(Independence Day); 2 October (Gandhi Jayanti; MahatmaGandhi's birthday)

■ DATE WHEN DIPLOMATIC RELATIONS ESTABLISHED BETWEENINDIA AND IRELAND: Diplomatic relations were established in1947. India established an embassy in Dublin in 1951, andIreland established an embassy in New Delhi in 1964

■ National population: 1,210.10 million■ Top five cities and population of each

(for metropolitan region, based on2011 census): New Delhi (21.8 million),Mumbai (Bombay) (20.8 million),Kolkata (Calcutta) (14.6 million),Chennai (Madras) (8.9 million),Bangalore (8.7 million)

■ Area: 3.3 million sq kilometres■ Currency: Rupee■ Religion/s: Out of the total populationof 1,210.10 million in the country,Hindus constituted the majority with81pc, Muslims came second at 13pc,followed by Christians, Sikhs,Buddhists, Jains and others

■ Languages: There are 22 differentlanguages that have been recognised bythe Constitution of India, of which Hindiis an official language. English has bylaw been designated the language forofficial purposes

■ Bilateral trade with Ireland (in millionUS$): 2007–2008 = 574.78, 2008–2009 =688.83, 2009–2010 = 525.39, 2010-2011= 529.60, 2011–2012 = 774.31

■ Irish exports to India (in million US$):2007–2008 = 260.32, 2008–2009 =239.06, 2009–2010 = 264.82, 2010-2011= 259.26, 2011-2012 = 394.05

■ Indian exports to Ireland (in millionUS$): 2007–2008 = 314.47, 2008–2009 =449.77, 2009–2010 = 260.57, 2010–2011= 270.34, 2011–2012 = 380.26

■ GDP: US$1,680bn (2011–2012)■ GDP (purchasing power parity (PPP)):US$4,503bn (2011 on PPP basis)

■ Real GDP growth: 2009–2010 = 8.0pc,2010–2011 = 8.4pc, 2011–2012 = 6.2pc,2012–2013 = 5.0pc(at factor cost at constant prices)

■ GDP per capita (current prices):US$1,526bn (2011–2012)

■ GDP per capita (PPP): US$3,627■ GDP share of world total: 5.65pc onPPP basis for 2011

■ GDP sector: Agriculture (14pc), industry(27pc), services (59pc) (at 2004–2005prices)

Key facts...

Rising starVIETNAM has successfully transformed from a centrally-planned economy with heavybureaucracy and subsidies to a socialist-oriented market economy characterised bystrong dynamism and rapidly growing entrepreneurship.It has recorded average annual GDP growth of 7pc over the past two decades

(5.89pc in 2011 and 5.03pc in 2012). It is a highly open economy, with internationaltrade exceeding 160pc of GDP, and is the world’s No 1 exporter of rice, coffee andblack pepper, and a major exporter of textiles, seafood, electronics, software, crude oiland furniture.Vietnam is regarded as one of the top emerging economies investment destinations,

one of the ‘next 11’ emerging economic powers, and one of the next BRICs (Brazil,Russia, India China), attracting $6.5bn in FDI in each of the past five years.The Ernst & Young report on rapid-growth markets (published in October 2012) calls

Vietnam a rising star with GDP predicting growth of 6pc a year for the next 25 years, aGDP per capita increase of six times over the next 25 years; and the number ofhouseholds earning over $30,000 rising from less than 6,000 in 2011 to more than60,000 in 10 years’ time.

BUSINESS SECTOR OPPORTUNITIESInfrastructure, agriculture, energy, IT and human resource development, includingeducation and training, continue to be the sectors that would offer the bestopportunities for Irish businesses both in the short and long terms.The ongoing privatisation process gives foreign investors good chances to

participate in the restructuring of the national economy. Vietnam is implementing anumber of existing multilateral and bilateral free trade agreements (FTAs), including abilateral FTA with the EU scheduled to be signed in 2013.


profileVIETNAM

ECONOMIC OVERVIEW

Key facts...

NATIONAL FLAG: The national flag of the Socialist Republic of Vietnam is rectangular in shape, its width is equal to twothirds of its length, and in the middle of fresh red background is a bright five-pointed yellow star. It was first used in the‘Southern Uprising’ of 23 November 1940 against French rule. The red background represents blood and also the revolutionspirit, while the yellow foreground represents ‘the color of our race’s skin’. The five points of the star represent the unity ofintellectuals, peasants, workers, traders and soldiers.NATIONAL DAY: 2 September DATE WHEN DIPLOMATIC RELATIONS ESTABLISHED BETWEEN VIETNAM AND IRELAND: 5 April 1996

■ National population: 92 million■ Top five cities and population of each: HoChi Minh city (7.921 million), Hanoi (7.189million), Hai Phong (1.978 million), DaNang (1.051 million), Can Tho (1.298million)

■ Area: 331,210 sq kilometres■ Currency: Vietnam Dong (VND)■ Religions: Buddhist (9.3pc), Catholic(6.7pc), Hoa Hao (1.5pc), Cao Dai (1.1pc),Protestant (0.5pc), Muslim 0.1pc

■ Languages: Vietnamese, English, French,Chinese, Khmer

■ Bilateral trade with Ireland (2012):US$728,004,000

■ Irish exports to Vietnam (2012):US$647,028,000

■ Vietnamese exports to Ireland (2012):US$80,976,000

■ GPD 2012: US$137.681bn■ GDP (purchasing power parity (PPP))

2012: US$320.450bn■ Real GDP growth: 6.78pc (2010), 5.89pc(2011), 5.03pc (2012), forecast 5.3pc (2013)

■ GDP per capita (current prices) 2012:US$1,523

■ GDP per capita (PPP) 2012: US$3,545■ GDP share of world total 2012: 0.387pc■ GDP sector breakdown 2012 (percentagecomposition for agriculture, industry andservices): 21.65pc, 40.65pc, 37.7pc

Sources: IMF, General Statistics Office of Vietnam

Vietnam and Ireland share a lot of common values. We both are nations that had to fight hardand made great sacrifices for national independence. Our peoples are at the same time peaceloving, kind hearted and hard working. We both have strong family values. We both valueeducation as key to human development.The sectors offering most opportunity to Irish businesses include IT, including software

development; agriculture and food processing; dairy products; chemicals; plastics; oil and gas;pharmaceutical; textiles; education, including vocational training; infrastructure development;services; environment technology; energy; tourism; engineering; machinery; and equipment.I would like to see a historic visit to Vietnam in 2013 by the Taoiseach Enda Kenny TD with an

accompanying large trade mission to improve links between our two countries.

AMBASSADOR INTERVIEWH.E. Vu Quang Minh


profileSINGAPORE

Open economyKey facts...

■ National population: 5.31 million(as of June 2012)

■ Area: 715.8 sq kilometres■ Currency: Singapore Dollar■ Religion/s: Buddhism (33.3pc),Islam (14.7pc), Christianity (11.3pc),Taoism (10.9pc), Catholicism (7.1pc),Hinduism (5.1pc), other religions(0.7pc), none (16.9pc)

■ Language/s: Malay, Mandarin, Tamiland English are the four officiallanguages in Singapore

■ Bilateral trade with Ireland:US$1.26bn (2012)

■ Irish exports to Singapore:US$869.45m (2012)

■ Singaporean exports to Ireland:US$392.16m (2012)

■ GDP: At 2005 market pricesUS$242.22bn (2012)

■ GDP (purchasing power parity(PPP)): Int$326.68bn (2012 est)

■ Real GDP growth: 2010: 14.8pc;2011: 5.2pc, 2012: 1.3pc, 2013(forecasted): 1.0–to 3.0pc

■ GDP per capita (current prices):US$51,625

■ GDP per capita (PPP): Int$61,521(2012 est)

■ GDP share of world total: 0.38pc(2012 est)

■ GDP sector breakdown: Businessservices (14.1pc), manufacturing(20.9pc), construction (4.2pc),utilities (1.5pc), wholesale and retailtrade (17.4pc)

Singapore adopts a market-based approach for sustainable and inclusive growth,and has a highly open economy with trade amounting to three times the country’sGDP. Coupled with a diversified economic structure and strong macroeconomicfundamentals, the Singapore economy remains resilient and robust amidst theglobal financial crisis and grew by 1.3pc in 2012. Given its excellent geographicalposition, Singapore is well placed as a hub for international players engaging arising Asia and for Asian enterprises expanding beyond their home markets. Aspart of this value proposition, Singapore is further developing its manufacturing,financial and logistics services sectors into globally competitive industries.

BUSINESS SECTOR OPPORTUNITIESWith a prime geographical location, excellent global connectivity and business-friendly policies, Singapore is the top choice for global companies setting upoperations in Southeast Asia, and the most reliable regional gateway to accessdynamic growing markets in ASEAN and larger Asia.Following the conclusion of the EU-Singapore Free Trade Agreement (EUSFTA) on

16 December 2012, economic linkages between Singapore and the EU will increaseand deepen. The EUSFTA will provide further benefits and opportunities for Irish andEuropean companies to tap on Singapore as a launch pad into the region.

ECONOMIC OVERVIEW

The cultures of Singapore and Ireland are fairlysimilar. Both are small countries with an open,export-oriented outlook. We also value education,multiculturalism and meritocracy. Our long sharedhistory with the Irish presence in Singapore, whereIrishmen have helped develop Singapore’seducation, roads and public works, has generateda wealth of goodwill in Singapore for Ireland.Sectors such as pharmaceuticals, info-commservices, nanotechnology, logistics andprofessional services, as well as lifestyle products

and services may be of interest to Irish businesses.Our businessmen have delved in areas such as IT, transport, logistics and real

estate. There is definitely potential to do more in these areas.We hope to see the speedy implementation of the EUSFTA, which will bring

great economic benefits to the peoples of Singapore and Ireland. On the bilaterallevel, I think increasing people-to-people contacts will help to improve culturaland business exchanges between our countries.

AMBASSADOR INTERVIEWH.E. T Jasudasen

NATIONAL FLAG: It consists of two equal horizontal sections of red above white. The upper left section contains a whitecrescent moon, and five white stars, which form a circle. Red symbolises universal brotherhood and the equality of man,while white signifies pervading and everlasting purity and virtue. The crescent moon represents a rising young nation. Thefive stars stand for the nation's ideals of democracy, peace, progress, justice and equality.■ NATIONAL DAY: 9 August■ DATE WHEN DIPLOMATIC RELATIONS ESTABLISHED BETWEEN SINGAPORE AND IRELAND: 2 December 1974

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Incentive to investBRUNEI Darussalam has a small but wealthy economy, which is growing at a slowand steady rate. It has remained stable with an average inflation rate of 1.5pc over thepast 20 years.The economy has been dominated by the oil and gas industry for the past 80

years. Hydrocarbon resources account for over 90pc of its exports and more than50pc of its GDP. Today, Brunei is the fourth largest oil producer in Southeast Asia andthe ninth largest exporter of liquefied natural gas in the world.Brunei Darussalam has a low tariff regime and no capital gains or personal income

tax. Under its Investment Incentives Order 2001 prospective investors will also enjoy awide range of incentives, including up to a possible 20 years exemption fromcorporate tax.

BUSINESS SECTOR OPPORTUNITIESSeveral key industry clusters have been identified that have the potential to bringvalue-added activities to Brunei and create spin-off opportunities.One of the clusters is manufacturing, which includes pharmaceuticals, food and

food ingredients, petrochemicals, integrated petrochemical refinery, and renewableenergy.The others are services such as information and communications technology and

supporting industries (logistics and oil filed support services); emerging newtechnologies; and infrastructure projects.


profileBRUNEI DARUSSALAM

ECONOMIC OVERVIEWKey facts...

NATIONAL FLAG

■ NATIONAL DAY: 23 February■ DATE WHEN DIPLOMATIC RELATIONS

ESTABLISHED BETWEEN BRUNEIDARUSSALAM AND IRELAND: 1984

■ National population: 408,000 (approx)■ Largest city: Bandar Seri Begawan,with population of about 22,000

■ Area: 5,765 sq kilometres■ Currency: Bruneian dollars■ Religion/s: Islam (67pc), Buddhist(13pc), Christian (10pc), otherindigenous beliefs (10pc)

■ Language/s:Malay (official), English,Chinese

■ Bilateral trade with Ireland:US$3,444,000 (2011)

■ Brunei Darussalam exports toIreland: US$ 3,444,000 (2011)

■ GPD: US$16.85bn (estimate)■ GDP (purchasing power parity (PPP)):US$21.94bn (est)

■ Real GDP growth: 2010 2.6pc; 20112.2pc; 2012 2.7pc;

■ GDP per capita (PPP): US$50,500■ GDP sector breakdown: Agriculture(0.8pc), industry (66.6pc), services(32.6pc)

Our cultural etiquette is very strong, althoughthis applies more to our roots in the MalayMuslim Monarchy concept so perhaps thoseinterested in business should pay someattention to this.Industry sectors include manufacturing

pharmaceuticals, food and food ingredients,petrochemicals, integrated petrochemicalrefinery, and renewable energy, as well as ourICT and support industries services.Brunei is interested in areas such as

education, real estate and machinery. I wouldwelcome an improvement in trade andeducational links.

AMBASSADOR INTERVIEWH.E. Hj Mohd Aziyan bin Abdullah


profileMYANMAR

On a fresh courseMYANMAR is a sovereign state in Southeast Asia bordered by China, Thailand, India,Laos and Bangladesh.Its population of over 60 million makes it the world's 24th most populous country

and, at 676,578 sq kilometres, it is the world's 40th largest country and the secondlargest in Southeast Asia.In the 1960s, Myanmar faced a bright future as a major rice exporter and one of

Southeast Asia’s leading economies. But it has since fallen far behind, as the rest ofthe region transformed itself through market-oriented reforms and trade integration.Since 2011, however, the new government has been charting a fresh course

centered on domestic political reconciliation, international re-engagement andeconomic reforms.Myanmar is a low income country in Asia. Per capita GDP is around US$900 and a

quarter of Myanmar’s estimated 60 million people live below the national poverty line.Tools to manage the economy are severely underdeveloped, with poor revenue

performance leading to persistent fiscal deficits financed by the central bank. This hascontributed to high and volatile inflation, averaging 23pc between 2001 and 2010,hitting the poor especially hard and undermining domestic confidence in the kyat.Limited financial intermediation has repressed savings and investment. Together with

weak government revenues, this has contributed to low levels of human and physicalcapital, notably in the form of insufficient energy and transport infrastructure.The economy remains vulnerable to shocks, given both its narrow dependence on

natural resources and low productivity agriculture.Myanmar is a large country, roughly the size of France. Its young labour force,

abundant natural resources (including natural gas, copper, timber and gemstones), andproximity to some of the most dynamic economies in the world, notably China, Indiaand the ASEAN-5, are major advantages.Myanmar can benefit from the experience of countries that have made similar

transitions, including many of its Asian peers.Their experiences emphasise a few key ingredients for sparking inclusive and broad-

based growth and poverty reduction. Most fundamental is the need for a stablemacroeconomic environment to lay the foundations for long-term growth, notably lowand stable inflation, a sustainable fiscal position, independent and effective monetarypolicy, a unified and market-based exchange rate, and adequate international reserves.In addition to fund investments in infrastructure and human capital, the government

requires adequate resources and the financial sector needs to become more efficientat mobilising and intermediating savings and to improve access to financial services.Openness to international trade and higher foreign direct investment (FDI) can also

play an important role. Attracting such flows and utilising them well in turn requiresimprovements to the business climate and greater transparency.Meanwhile, structural reforms to boost agricultural productivity and liberalise trade

can help facilitate job creation in higher value-added sectors.

Source: International Monetary Fund

ECONOMIC OVERVIEW

■ Population (2007/08): 57.5 million■ GDP (2010/11): US$45.4bn■ GDP growth: 10.4pc in 2011■ Exports: US$10.1bn in 2012■ Imports: US$10.1bn in 2012

Key facts...

NATIONAL FLAG

The Republic of the Union of Myanmar adopteda new state flag on 21 October 2010 to replacethe former flag in use since 1974. The newflag was introduced along with implementingchanges to the country's name, which werelaid out in the 2008 constitution.

The design of the flag has three horizontalstripes of yellow, green and red with a five-pointed white star in the middle. The threecolours of the stripes are meant to symbolisesolidarity, peace and tranquility, and courageand decisiveness.


profileTHE PHILIPPINES

Springboard Key facts...■ National population: 92.34 million(2010)

■ Top five cities by population:Quezon City (2.76 million), City ofManila (1.65 million), Caloocan City(1.49 million), Davao City (1.45million), Cebu City (866, 000)

■ Area: Approximately 300,000 sqkilometres

■ Currency: Philippine Peso■ Religions: Roman Catholic (82.9pc),Protestant (5.4pc), Islam (4.6pc),Philippine Independent Church(2.6pc), Iglesia ni Cristo (2.3pc)

■ Languages: Two official languages,Filipino and English. Filipino, whichis based on Tagalog, is the nationallanguage. English is also widely usedand is the medium of instruction ineducation. The eight major dialectsspoken by majority of the Filipinosare Tagalog, Cebuano, Ilocano,Hiligaynon or Ilonggo, Bicol, Waray,Pampango and Pangasinense.

■ Bilateral trade with Ireland:US$264,284,000 (2011)

■ Irish exports to the Philippines:US$240,795,000 (2011)

■ Philippine exports to Ireland:US$23,490,000 (2011)

■ GDP: US$240bn (2012 estimate)■ GDP (purchasing power parity

(PPP)): US$416bn (2012 estimate)■ Real GDP growth: 7.6pc (2010),3.9pc (2011), 6.6pc (2012), 6–7pc(2013 projected)

■ GDP per capita (current prices):US$2,369 (2011)

■ GDP per capita (PPP): US$4,119(2011)

■ GDP share of world total: 0.5pc(2012)

■ GDP sector breakdown: Services(52pc), agriculture (33pc), industry(15pc)

THE Philippines has been carrying an unyielding trust in its leaders to implementnecessary reform programmess. In 2012, the country posted 6.6pc growth, oneof the best in Asia. This was achieved without sacrificing stability, as inflation hasbeen kept low and fiscal deficit-to-GDP ratio is only 1.4pc.The country’s good performance has been recognised by credit rating agen-

cies, foreign businesses and development partners. Growth is forecast to bebetween 6pc and 7pc in 2013 and 6.5pc to 7.5pc in 2014. Key priority sectors,namely tourism, business process outsourcing, electronics, real estate, agribusi-ness, logistics and shipbuilding, will be given more focus.

BUSINESS SECTOR OPPORTUNITIESIrish firms should consider establishing operations or joint ventures in Philippineeconomic zones as a springboard for the massive export market in Asia. ThePhilippines is an ideal location due to its many comparative advantages, includingthe productivity and high level of education of its labour force and its use of theEnglish language as the business medium.

H.E. Enrique A Manalo

The Philippines and Ireland share a commondominant faith, Catholicism, and share values inmany aspects of life such as work, family andcommunity.The sectors that offer most opportunity to

Irish businesses are public-private partnershipprojects, creative services/business processoutsourcing, energy and aerospace. In Ireland,the sectors that offer the most opportunity toPhilippine businesses are electronics, food andagriculture products, information technology, and tourism.If there were a single development I would like to see to improve links

between the Philippines and Ireland, it would be to agree on a joint plan ofaction consisting of activities and measures aimed at enhancing our political,economic and social ties.

nation

AMBASSADOR INTERVIEW

ECONOMIC OVERVIEW

NATIONAL FLAG: The sun represents independence, and its eight rays represent the first eight provinces thatrevolted against Spanish colonial rule. The three stars represent the country’s three main geographic regions:Luzon, Visayas and Mindanao. The white triangle represents equality. The blue field represents patriotism and thered field valor.■ NATIONAL DAY: 12 June (Independence Day)■ DIPLOMATIC RELATIONS ESTABLISHED WITH IRELAND: 9 July 1946


profileMALAYSIA

Entry pointBUSINESS SECTOR OPPORTUNITIESMalaysia is a land of endless business and investment opportunities. A good entrypoint for investments into the growing Southeast Asian region, it offers a competitivebusiness environment, world-class infrastructure and high skill labour force.The Malaysian government has introduced special taxation and financial incentives

to encourage foreign investment and, in particular, investments into research and devel-opment, and has promoted activities such as manufacturing, information and commu-nications, biotechnology, healthcare, education, and industrial related technology.

■ National population: 29,336,800 (2012)■ Top five cities and population of each:Kuala Lumpur, capital (1,674,621), JohorBahru (1,386,569), Georgetown (520,202),Ipoh (767,794), Kuching (617,887)

■ Area total: 329,847 sq kilometres■ Currency: The Ringgit is the official mon-etary unit of Malaysia. It is divided into100 sen (cents) and its currency code isMYR or RM

■ Religion/s: Islam, official (61.3pc),Buddhist (19.8pc), Christian (9.2pc),Hindu (6.3pc), Confucianism, Taoism,other traditional Chinese religions (2.6pc)

■ Language/s: The official national lan-guage is the Malay language or locallyreferred to as Bahasa Malaysia, while theprimary medium of communicationemployed in government, commerce andgeneral media is English, which is a com-pulsory subject in the Malaysian educa-tion syllabus. There are also other ethniclanguages widely practised such asChinese in various dialects as well asTamil and Hindi

■ Bilateral trade with Ireland: €0.371bn(2012)

■ Irish exports to Malaysia: €0.24bn (2012)■ Malaysian exports to Ireland: €0.131bn(2012)

■ GDP: US$307.178bn (2012)■ Real GDP growth: 7.2pc (2010), 5.1pc(2011), 5.6pc (2012), 5.3pc–5.5pc (2013 –expected)

■ GDP (purchasing power parity (PPP)):US$491.967bn (2012)

■ GDP per capita (current prices):US$10,578.45 (2012)

■ GDP per capita (PPP): US$16,942 (2012)■ GDP share of world total: 0.594pc (2012)■ GDP sector breakdown (2012):Agriculture (0.8pc), mining (1.4pc), man-ufacturing (4.8pc), construction (18.5pc),services (6.4pc)

Malaysia and Ireland share several fundamentalrules on cultural etiquette in doing business.However, it must be borne in mind that Malaysia isa multicultural country, thus practices vary betweenthe different cultural groups. Recognising andrespecting the diverse cultural, religious and cus-toms will help build close relationships with busi-ness partners.Malaysia offers vast business opportunities in the

manufacturing and services sectors, which includeoil, gas and energy; palm oil; financial services;

tourism; business services; electronics and electrical; wholesale and retail; educa-tion; healthcare; communications content and infrastructure; and agriculture.The services sector is a major contributor to the growth of the Malaysian econo-

my. Areas in the services sector that offer opportunities for investors include ITservices, shared services and business process outsourcing (BPO), regional head-quarters, research and development, education, and environmental management.Malaysia also provides various business opportunities in the field of aerospace;

advanced electronics; advanced materials; fine chemicals; renewable energy;optics and photonics; petrochemicals; pharmaceuticals; machinery and equip-ment; and medical devices.As a progressive Islamic country, Malaysia is recognised as a global leader in

the areas of halal products and Islamic finance.Education remains the bedrock of the bilateral co-operation between Malaysia

and Ireland. Advanced science and technology is also another area that could befurther explored by business investors from Malaysia.There are also opportunities in Islamic finance as Taoiseach Enda Kenny TD is

determined to ensure that Dublin’s IFSC to be a centre of excellence for this area.

AMBASSADOR INTERVIEWH.E. Dato’ Ramli Naam

Key facts...

NATIONAL FLAG: The flag of Malaysia, also known as the Jalur Gemilang (Stripes of Glory), comprises a field of 14 alternating redand white stripes along the fly and a blue canton bearing a crescent and a 14-point star known as the Bintang Persekutuan (FederalStar). The 14 stripes, of equal width, represent the equal status in the federation of the 13 member states and the federal government,while the 14 points of the star represent the unity between these entities. The crescent represents Islam, the country's official religion;the blue canton symbolises the unity of the Malaysian people; the yellow of the star and crescent is the royal colour of the Malay rulers.NATIONAL DAY: 31 August DATE WHEN DIPLOMATIC RELATIONS ESTABLISHED BETWEEN MALAYSIA AND IRELAND: 10 January 1974


profileTHAILAND

Liberal kingdomKey facts...■ National population: 67.6 million■ Top five cities: Bangkok (capital),Chiang Mai (north), NakornRatchasima (north-east), Kon Kaen(north-east), Phuket (south)

■ Area: 514,000 sq kilometres■ Currency: Baht■ Religion/s: Buddhism, Muslim,Christianity

■ Language/s: Thai (English is alsowidely spoken and understood)

■ Bilateral trade: US$622.50m(+11.42pc) (2012)

■ Irish exports to Thailand:US$279.07m (+ 6.13pc) (2012)

■ Thai exports to Ireland:US$343.43m(+16.12pc) (2012)

■ GPD: US$365bn (2012), US$417bn(forecast 2013)

■ Real GDP growth: 7.8pc (2010),0.1pc (2011), 6.4pc (2012), 4.5–5.5pc(forecast 2013)

■ GDP per capita (current prices):US$5,382/year, US$6,106/year(forecast 2013)

■ GDP share of world total: 0.8pc■ GDP sector breakdown: Agricultural(8.6pc), industry (39pc), services(52.4pc)

Thailand is Southeast Asia’s second largest economy with a GDP of aroundUS$360bn. A free market economy, the kingdom has a strong domestic market anda growing middle class, with the private sector being the main engine of growth.The Thai economy is well integrated into the global marketplace, with exports

accounting for over 70pc of its GDP.In 2012, GDP grew by 6.4pc, and exports climbed 3.2pc, with domestic demand

and investment as key drivers. In 2013, GDP should continue to grow by 4.5–5.5pcand exports by 11pc, according to estimates.Thailand has been a leader in the region in terms of trade liberalisation and

facilitation with the rest of the world, starting with its Asian neighbours. A key playerin ASEAN, Thailand offers convenient access to China and India, as well as to otherEast Asian countries such as Japan and the Republic of Korea.In addition, Thailand’s expanding network of free trade agreements with other

countries have further opened up access to markets both within and outside theregion. These, coupled with its strategic positioning, have made the country aregional centre for international travel and trade, as well as a hub for variousindustries.Thailand has been ranked high by the World Bank for ‘Ease of Doing Business’

over the past eight years – currently, it is 18th in the world and the sixth in Asia.

ECONOMIC OVERVIEW

Thailand and Ireland have similar culturaletiquettes. Both Thai and Irish people aregenerally friendly to foreigners and proud of theirown countries and cultural heritage. After severaldecades of outstanding economic performance,both countries have undergone rapid economicgrowth before falling into similar patterns and rootcauses of financial crisis. Nevertheless, both Thaiand Irish people have proved themselves to asdetermined to follow the right pathtowards sustainable recovery.

Apart from medical devices and pharmaceutical products,machinery, computers, and parts and accessories – which haveshown their great value in bilateral trade for a number of years –there is more opportunity for both sides in expanding theirbusinesses in agro-industries, rubber, precious stones and jewellery,in which Thailand is one of the leaders in the region and the world.

The investment plan in large-scale infrastructure projects worth US$75bn willbe implemented over the next seven years, offering further opportunities.

Only around 59,000 Irish tourists travel to Thailand a year. I believe that theenhancement of people-to-people contact will open the opportunity for Irish andThai businesses and people to know each other more and appreciate thecultures which will bring about further co-operation in all fields.

AMBASSADOR INTERVIEWH.E. Mr. Pasan Teparak,

Ambassador-designate of Thailand to Ireland

NATIONAL FLAG: The flag ofThailand is called Thong Trairong,meaning ‘tricolour flag’. Thecolours are said to stand fornation-religion-king, an unofficialmotto of Thailand. Red is for theland and people; white is for

Buddhism; and blue is for the monarchy.■ NATIONAL DAY: 5 December (HM King

Bhumibol Adulyadej’s birthday)■ DATE WHEN DIPLOMATIC RELATIONS

ESTABLISHED: 27 January 1985


Today, Indonesia is an emergingmarket – an archipelagospanning over 17,000 islands and the fourthmost populouscountry in the world with around 243million people (40pc ofthe ASEAN countries’population) with dynamic economicgrowth as the largest economy in Southeast Asia with 6.5pcGDP growth in 2011 and 6.3pc in 2012.

Indonesia welcomes and encourages FDI in various sectors, prioritises in food, energy,infrastructure, and manufacture processing of natural resources into semi-)nished and)nished goods to bring added value to the economy. It has huge potential market andabundant supply of natural resources, as well as the world’s largest suppliers of palm oil,tin, rubber, cocoa, copper, nickel and gold. Infrastructure development is national priorityto interconnect di(erent potential economic regions by developing sea and airports, tollroads, railways, telecommunication, water supplies and power plants.

Indonesia’s investment climate gives equal treatment to foreign and local investments;allows for unimpeded repatriation of capital, pro)t and dividend; guarantees noexpropriation on investment; and has various attractive incentives such as exemption ofimport duty and VAT on capital goods and raw materials for production, tax allowancesfor certain locations and/or business sectors (agriculture, forestry, )sheries, mining, foodindustry, textiles, chemicals, basic metals, ship industry, waste management, roadconstruction, storage and logistics), and tax holidays for basic metals, oil re)nery,machinery, renewable resources and communication equipments sectors.

Indonesian Investment Promotion Centre (IIPC)3rd Floor, St Martin’s House, 16 St Martin’s le GrandLondon EC1A 4EN, UK

Tel: +44(0)2073978564, +44(0)2073978568Fax: +44(0)2073978565Email: [email protected]: www.bkpm.go.id

invest inremarkable

indonesia Indonesian Investment Promotion Centre

SEE CHINAIN A DIFFERENT LIGHT

Founded in 1981 to serve both the diplomatic and international business communities in China. The China Daily has become a premier English-language publication o�ering China and international news and commentary from an increasingly important Chinese perspective. With growing interest in China’s role regarding global business and politics, the China Daily is an indispen-sible resource that allows international readers access to a world of primary news information that otherwise would only be available in Chinese.

Published every Friday from London, the China Daily European Weekly is Europe’s localised edition and available in more than 30 countries. Other editions available include the main Home Edition as well as Hong Kong, US and Asia Pacific editions.

To subscribe to the China Daily European Weekly visit www.ocsmedia.net/chinadaily

For more information e-mail [email protected]

www.chinadaily.com.cn

profileMONGOLIA

Access all areas

Key facts...

■ National population: 2.8 million■ Area: 1,564,116 sq kilometres■ Time zone: UTC+7 to +8■ Currency: Tugrik■ Religion/s: Buddhism, Islam,Shamanism, Christianity

■ Language/s: Mongolian■ Irish exports to MongoliaUS$6,027,000 (2012)

■ Mongolian exports to IrelandUS$23,900 (2012)

■ GPD: US$9.92bn (2012)■ GDP (purchasing power parity

(PPP)): US$15.22bn 2012■ Real GDP growth: 2010 – 6.4pc,2011 – 17.5pc, 2012 – 11.2pc, 2013 –16.8pc

■ GDP per capita (current prices):US$3,542 (2012)

■ GDP per capita (PPP): US$5,435(2012)

Mongolia operated as a Soviet-style centrally planned economy until theestablishment of a new coalition government in 1990. Since then, Mongolia hastransitioned into a market-oriented economy, with the private sector constituting75.2pc of the nation’s GDP in 2011.Over the past two decades, Mongolia has transformed itself from a socialist

country with a planned economy into a vibrant multi-party democracy with one ofthe world’s fastest growing economies.From 2007 through to 2011, Mongolia’s real GDP grew at a compound annual

growth rate of 7.7pc; in 2011, its economic real growth rate was 17.5pc. Locatedbetween Russia (to its north) and China (to its south), Mongolia possesses vast,untapped mineral assets, which have begun to be developed.

BUSINESS SECTOR OPPORTUNITIESMongolia is in a very strategic location for foreign investors. It borders theresource-rich, vast Siberian region of Russia to the north and rapidly emergingChina to the south. This provides easy access to the large international marketsof these two neighbours and important global players.It is close to large commodity consumers in China, Siberia, Korea and Japan

and close to the Northwest China industrial hub.

WORLD-CLASS MINERAL RESOURCES■ Over 6,000 ocurrences of 80+ mineral.■ Copper – coal – iron – zinc – fluorspar.■ Some of the world's largest deposits.■ Potential to become a major global commodities player.

ECONOMIC OVERVIEW

NATIONAL FLAG

■ NATIONAL DAY: 11 June (Naadam)■ DATE WHEN DIPLOMATIC RELATIONS ESTABLISHED BETWEEN MONGOLIA AND IRELAND: 22 December 1998



ENTERPRISE IRELAND CONNECTING HUNDREDS OF IRISH COMPANIES TO THOUSANDS OF INTERNATIONAL BUYERS

IF YOU NEED AN INTRODUCTION

CONTACT US:

WWW.ENTERPRISE-IRELAND.COM

POMCETNE

STHOUOTIESNAPNDALERIESRIPR

NRETINOFSDNASHUGINTCEONNC

REYUAL BNIOTAATNHSOF IRISDERDNUSR

HPOMC STHOUOTIESNAP NRETINOF SDNAS REYUAL BNIOTAATN SR

Bord Bia, The Irish Food Board, promotes and markets Ireland’sfood and drink exports to audiences around the world. Established in1994, Bord Bia plays an important role to enhance the internationalreputation of Irish food and drink companies, to support their businessdevelopment objectives and to forge long-lasting and productiverelationships between international buyers and Irish suppliers.

www.bordbia.ie


profile CAMBODIA

Trade facilitator

Key facts...■ National population: 14,952,665(2010 est)

■ Top five cities and population ofeach: Phnom Penh, capital city(2,234,566), Kampong Cham(1,680,694), Kandal (1,265,805),Battambang (1,036,523), Prey Veng(947,357), Siem Reap (896,309)

■ Area: 181,035 sq kilometres■ Currency: Riel, US$1 = 4000 riels■ Religion/s: Buddhism■ Language/s: Khmer■ Irish exports to Cambodia:US$ 1,943,740.91 (2012)

■ Amount of Cambodia exports toIreland: US$12,538,243.18 (2012)

■ GPD: US$14.204bn (20.11)■ GDP (purchasing power parity

(PPP)): Int$36.01bn (2011 est)■ GDP per capita (current prices):US$931 (2008 est)

■ GDP per capita (PPP): Int$2.361(2008 est)

■ GDP share of world total: 0.04pc(2010)

■ GDP sector breakdown: Agriculture(30.9pc), industry (22pc), service(40pc) (2011 est)

Cambodia has undergone sweeping changes in recent years, not only in the field ofpolitical stability and security, but also in its economic and social landscape, with aview to attracting foreign direct investment.The Royal Government of Cambodia has embarked on wide-ranging reform

focusing on macroeconomic management, public financial management and thebanking sector, along with the rehabilitation and reconstruction of the country’sphysical infrastructure.At the same time the government has pressed ahead with its trade facilitation

agenda, aimed at reducing the cost of doing business, which includes measuressuch as streamlining the inspection process by rationalising the roles ofgovernment agencies involved in the regulation of export and import activities.

BUSINESS SECTOR OPPORTUNITIESLocal and foreign investors are treated equally in Cambodia, meaning that foreigninvestors can hold up to 100pc of their investments in the country. The lawsrelated to investment are sound, transparent and predictable.Moreover, products manufactured in Cambodia can access key world markets

through trade preferences or duty-free arrangements because Cambodia is oneof the least developed countries in the region.It is encouraging investment activities in agriculture and agri-industry; transport

and telecommunications infrastructure; energy and electricity; labour intensiveindustries and export-oriented processing and manufacturing; tourism; humanresources development; oil and gas; and mining.

ECONOMIC OVERVIEW

NATIONAL FLAG: The flag of Cambodia symbolises the country’s slogan: ‘Nation, Religion, King’. The two large bluestripes represent royalty and the centre red stripe represents the nation. The white temple stands for the nation’s religion.

■ NATIONAL DAY: 9 November■ DATE WHEN DIPLOMATIC RELATIONS WERE ESTABLISHED BETWEEN CAMBODIA AND IRELAND: 30 October 2009

H.E. Hor Nam Bora was born on 27 July 1957. Hejoined the foreign ministry in 1988 and a year laterCambodia shifted towards free market economics.He was rewarded with postings to Thailand(1993–1996) and a scholarship to the UnitedNations in Geneva (1994–1995) before becomingdeputy permanent representative to the UNEconomic and Social Committee for Asia and thePacific in Thailand (1995–1996).

On return to Cambodia, he was appointedundersecretary of state and foreign affairs adviser of

the head of state, positions he held from 1996 until 1998. He has been CambodianAmbassador to the UK, Denmark, Finland, Ireland, Norway and Sweden; currently heholds the position as dean of the Asian Countries’ Group in London.

AMBASSADOR PROFILEH.E. Hor Nam Bora


JETRO is always ready to help foreign companies planning to start a business in Japan.

Japan is the third largest economy in the world with many business opportunities in such

fields as life science, energy & environment, IT and so forth. Forthcoming EU-Japan FTA/EPA will further facilitate doing business in Japan. Through Japan’s active engagement in FTA networks in the Asia Pacific region, Japan could be a gateway to this rapidly growing economic zone.

The Japan External Trade Organisation (JETRO) is an organisation funded by the Ministry of Economy Trade and Industry

(METI) that works to promote mutual trade and investment between Japan and the rest of the world. JETRO has a worldwide network of more than 70 overseas offices in over 50 countries across the world. JETRO London was established in 1959, and has been supporting Irish companies looking to invest in Japan.

The majority of JETRO’s services, which are free of charge, are aimed at helping foreign companies to establish a branch or

subsidiary in Japan, such as providing market information by using a broad network across government and private sectors, legal advice and consultation according to your company’s needs, and temporary office space for foreign firms that have not yet established a business base in Japan. JETRO Investment Business Support Centres (IBSCs) are located six major cities in Japan Tokyo, Yokohama, Nagoya, Osaka, Kobe, and Fukuoka.

To find more about JETRO please visit the JETRO website ; http://www.jetro.go.jp/en/invest/ or contact JETRO.

CONTACT US JETRO’s representative in Ireland Mr. Yasuyuki Ozeki E-mail: [email protected] TEL: + 353 (0) 87 980 0860

Japan External Trade Organisation (JETRO), LondonE-mail: [email protected] TEL: + 44 (0)20 7421 8300FAX: + 44 (0)20 7421 0009

EU-JAPAN CENTRE FOR INDUSTRIAL COOPERATIONHelping EU and Japanese industry work together for 25 years.

WHAT DOES IT DO?Provides TRAINING COURSES on Japanese

business practicesPromotes SCIENTIFIC COOPERATION

between EU and Japanese researchers and between clustersProvides JAPANESE TECHNICAL (POST-)GRADUATES

as interns, to bring Japanese expertise to your projectsOrganises SEMINARS on issues of interest to European and Japanese industry

Provides INFORMATION and SUPPORT services

Promotes REGULATORY REFORM in the EU and Japan

NEXT EVENT IN DUBLIN:Driving Competitiveness - 29 May, Dublin Castle.

European, Irish and Japanese case studies. Practical examples of what does and doesn’t workand how to achieve competitiveness in a busy marketplace.

Organised with Enterprise Ireland; the Department of Jobs, Enterprise and Innovation and the Irish EU Presidency.

More information: www.EU-JAPAN.eu


profileLAOS

Competitiveadvantage

Key facts...■ Population: 6.5 million■ Religion: Buddhism (TheravadaBuddhism )

■ Language: Lao (English is widelyunderstood)

■ Major cities: Vientiane (capital),Savannakhet, Pakse,Louangprabang

LAOS has long been seen as a poor, landlocked, sparsely populated country.But it is at last emerging from its isolation. The government has a vision oftransforming the country into a land link with the region, investing in theconstruction of many cross-border infrastructure projects under the GreatMekong Sub-region (GMS) project aimed at connecting Laos to its neighbours.Laos has had a market-oriented economy since 1986. The first investment

law was implemented in 1988 and amended in 2009, which makes theinvestment regime more open, attractive, transparent and effective.Laos has many competitive advantages including social and political stability;

high security (a low level of crime); liberal trade and attractive investmentpolicies and laws; and low investment costs (land, labour, utilities).It is also rich in natural resources such as mining, energy and agriculture.The economy is integrating regionally and internationally, having become a

member of international organisations such as UNESCO, the InternationalMonetary Fund and ASEAN. It has bilateral investment agreements with 27countries and has recently joined the World Trade Organisation.The seventh National Socio-economic Development Plan (2011–2015) set

out the country’s priorities: sustained GDP growth of 8pc, poverty reductionand improved education. For the year 2013, the economy is expected to growby 8.2pc mainly due to the growth in the construction, manufacturing, mining,energy and service sectors.

Laos is known as a destination for historical,cultural and eco-tourist attractions for manyvisitors around the world. Although Laos andIreland are located a far distance away fromeach other, there are some similarities interms of the hospitality of the people and inthe spirit of preserving their culture,traditions and the natural beauty of ourrespective countries.Laos is rich in terms of natural resources.

The country is trying to attract investmentfrom around the world in order to develop itseconomy by mobilising capital, technologyand know-how, creating jobs for the peopleand promoting business linkages with foreigncountries.Ireland has plenty of potential in terms of

its fast growing and advanced economy, sothere is ample opportunity for matching thebusinesses of our two countries in varioussectors such as agriculture, manufacturing,tourism and other related services. We coulddefinitely strengthen our two countries’linkages by exchanging information in variousareas, together promoting tourist andbusiness activities.

AMBASSADORINTERVIEWH.E. Khouanta Phalivong

ECONOMIC OVERVIEW

NATIONAL FLAG: The current flag of Laos was officiallyadopted on 2 December 1975 (2 December is the Lao NationalDay: Proclamation of the Lao People’s Democratic Republic).The red represents the blood of the people who struggled fornational independence; the blue stands for prosperity; and thewhite circle symbolises justice and unity of the people towardsthe country’s bright future.■ NATIONAL DAY: 2 December


To be a member of the Stephen’s GreenHibernian Club is more than justpaying a subscription fee to use thefacilities. You are part of something.You are part of a whole group of peoplewho have their ‘home in the city’.

There are numerous facilities, services andbenefits of membership available to members ofthe Stephen’s Green Hibernian Club, includingunlimited access to one of Ireland’s premierprivate clubs, located in the heart of Dublin city.Privacy and confidentiality are treated with theutmost respect.

Contact EmmaEllis for a tour or formoreinformation t: 01 6730207 or e: [email protected]


EU AND ASIA

BURMA/MYANMARWorld Trade Organisation (WTO)member. No current sign of a free tradeagreement (FTA) being negotiated.

BRUNEIBrunei is interested in a bilateral FTAnegotiation, but also looks towards arestart of EU-ASEAN FTA.

CAMBODIAWTO member. No current sign of an FTAbeing negotiated.

EU-CHINAAn EU-China Summit has beenscheduled for late 2013 and the EU hasbeen assessing its priorities for its traderelationship in advance of this event. Oninvestment, the 15th EU-China Summitin September 2012 re-confirmed theintention to work towards launchingnegotiations on a bilateral agreement,covering both investment protection andmarket access. A mandate for anInvestment Protection Agreement maybe proposed for China in 2013.

INDIAThe pace and tempo of negotiations onan EU-India FTA have picked uprecently. The Commission has indicatedthat a breakthrough over the comingtwo to three months is critical and thatelements for a package may be

presented by late March 2013. If the FTAis not concluded by May/June then itmay not be possible this year due to apossible change in government in Indiafollowing general elections in March2014. In that case, the Commission willnot revisit negotiations until 2015.

INDONESIAStill at an early stage in discussions todeepen EU-Indonesia trade relations bynegotiating a Comprehensive EconomicPartnership Agreement (CEPA). The EUand Indonesia have started preparatorywork to define the scope and level ofambition for such an agreement,however timing is still unclear.Consequently, work towards launchingFTA negotiations is also unclear at thisstage as the parties first need to agreeon a scoping paper.

JAPANThe European Council are looking tolaunch negotiations on an FTA at theforthcoming EU-Japan Summit,provisionally scheduled for late March2013. The next round of preparatorytalks will take place at the end ofFebruary.

LAOSWTO accession took place on 2February 2013; Laos is the last ASEANcountry to accede.

MALAYSIAIt is hoped that FTA negotiations willconclude in 2013, although progress isdependent on foreseen general electionsin Malaysia.

THE PHILIPPINESThe Philippines is considering whetherto request a scoping exercise for anFTA, which may commence when thePhilippines indicate their readiness.

SINGAPOREFTA negotiations are well advanced andcould finish this year, as predicted in theJune 2012 European Council. In view ofthe advanced state of negotiations, nofurther full round is expected.

THAILANDTwo scoping sessions for an FTA tookplace in July and September 2012, andit is likely that the European Council willapprove a mandate to open negotiationswith Thailand.

VIETNAMCommissioner Karel De Gucht andMinister Hoang Trung Hai officiallylaunched negotiations on 26 June inBrussels, and the next round isscheduled for May 2013.

Source: Department of Enterprise, Jobs andInnovation

The following is a round-up of the state of play regarding negotiationsbetween individual Asian countries and the European Union

EU trade negotiationsupdate – Asian states


EU AND ASIA

Fine Gael/European People’s Party (Christian Democrats) (EPP):Jim Higgins (North West), Cloonturk, Kilkelly, Co MayoTel: (094) 9367323, fax: (094) 9367321Email: [email protected]: www.jimhiggins.ie

Seán Kelly (South), 4 Harbour House, Locke Quay, Dublin Road, LimerickTel: (061) 468788Email: [email protected]: www.seankelly.eu

Mairead McGuinness (East), Mentrim, Drumconrath,Navan,Co MeathTel: (041) 6854633, fax: (041) 6854634Email: [email protected]: www.maireadmcguinness.ie

Gay Mitchell (Dublin), 192 Upper Rathmines Road, Dublin 6Tel/fax: (01) 4961940Email: [email protected]: www.gaymitchell.ie

Fianna Fáil/Alliance of Liberals and Democrats for Europe (ALDE):Liam Aylward (East), Aghaviller, Hugginstown, Co KilkennyTel: (056) 7768703, fax: (056) 7768229Email: [email protected]: www.liamaylward.com

Brian Crowley (South), Maryborough Lodge, Maryborough Hill,Douglas, Co CorkTel: (021) 4896433, fax: (021) 4896401Email: [email protected]: www.briancrowleymep.ie

Pat the Cope Gallagher (North West), Main Street, Dungloe,Co DonegalTel: (074) 9521276, fax: (074) 9521133Email: [email protected]: www.patthecope.com

Labour Party/Progressive Alliance of Socialists and Democrats (S&D):Emer Costello (Dublin), Room 1410, Liberty Hall, Dublin 1Tel: (01) 8746109, fax: (01) 8746096Email: [email protected]: www.emercostello.ie

Nessa Childers (East), 2 Belton House, 115 Main Street,Bray, Co WicklowTel: (01) 2962263Email: [email protected]: www.nessachilders.ie

Phil Prendergast (South), Central House, Parnell Street, Clonmel,Co TipperaryTel: (052) 6180627Email: [email protected]: www.philprendergast.ie

Socialists/Confederal Group of the European UnitedLeft–Nordic Green Left (GUE/NGL):Paul Murphy (Dublin), 150 Pearse Street, Dublin 2Tel: (01) 6795030Email: [email protected]: www.paulmurphymep.eu

IndependentMarian Harkin (North West), 28 Emmet Place, Union Street, SligoTel: (071) 915 0152, fax: (071) 914 1973Email: [email protected]: www.marianharkin.ie

European Parliament’s workThe European Parliament plays a key role within the EuropeanUnion institutional structure. It decides on an equal footingwith the EU member states (Council) in almost all areas of EUlegislation where it has the right to adopt, amend or rejectproposals put forward by the European Commission. Itsimilarly co-decides with the Council on the EU's annualbudget and has the power to say yes or no to the longer-termEU budget, to key international trade agreements and to EUenlargement. It elects the Commission president and the fullteam of commissioners.

It has an important say on other EU appointments, such ason the president and board of the European Central Bank. Itnow has a greatly enhanced role on EU treaty change. As it isnot subordinate to any government, it decides its own agendaand gives its opinion on a wide range of subjects, includingforeign policy and human rights issues. It also looks atpetitions from EU citizens.

The European Parliament is the only directly-elected bodyof the European Union. The 754 members are elected onceevery five years by voters in the 27 member states of the EUon behalf of its 500 million citizens. MEPs sit in one of theseven political groups, as well as in one or more of the 20committees, where Parliament's decisions on EU legislationand other matters are initially prepared. Once voted out ofcommittee, these decisions are examined by the politicalgroups and then finally adopted in plenary.

Francis Jacobs is the head of the European ParliamentOffice in Ireland.

Irish MEPs: Full committeemembershipsDevelopment: Gay MitchellInternational Trade: Paul MurphyEmployment and Social Affairs: Emer Costello, Marian HarkinEnvironment, Public Health and Food Safety: Nessa ChildersIndustry, Research and Energy: Brian CrowleyInternal Market and Consumer Protection: Phil PrendergastTransport and Tourism: Jim HigginsRegional Development: Seán KellyAgriculture and Rural Development: Liam Aylward, MaireadMcGuinnessFisheries: Pat the Cope GallagherSpecial Committee on Organised Crime, Corruption andMoney Laundering: Gay Mitchell


EMBASSIES

ASIADIPLOMATICREPRESENTATIONFOR IRELAND

IRELAND’S DIPLOMATICREPRESENTATION IN ASIA

EMBASSY OF BRUNEI DARUSSALAM19/20 Belgrave Square, London SW1X 8PGTel: 004420 7581 0521Email: [email protected]. Mr Hj Mohd Aziyan bin Abdullah,Ambassador Extraordinary andPlenipotentiary

THE ROYAL EMBASSY OF CAMBODIA64 Brondesbury Park, Willesden Green,London NW6 7ATTel: 004420 8451 7850Email: [email protected]: www.cambodianembassy.org.ukH.E. Mr Nambora Hor, AmbassadorExtraordinary and Plenipotentiary

EMBASSY OF THE PEOPLE'S REPUBLICOF CHINA40 Ailesbury Road, Dublin 4Tel: 01 269 1707 / 01 260 1119Email: [email protected]: http://ie.chineseembassy.orgH.E. Mr LUO Linquan, AmbassadorExtraordinary and Plenipotentiary

EMBASSY OF INDIA6 Leeson Park, Dublin 6Tel: 01 497 0806/01 497 0987/01 4966770Email: [email protected] /Web: www.indianembassy.ieH.E. Mr Debashish ChakravartiAmbassador Extraordinary andPlenipotentiary

EMBASSY OF THE REPUBLIC OF INDONESIA38 Grosvenor Square, London W1K 2HWTel: 004420 7499 7661Email: [email protected]: www.indonesianembassy.org.ukH.E. Mr Teuku Muhammad Hamzah ThayebAmbassador Extraordinary andPlenipotentiary

EMBASSY OF JAPANNutley Building, Merrion Centre, NutleyLane, Dublin 4. Tel: 01 202 8300Email: [email protected]: www.ie.emb-japan.go.jpH.E. Mr Chihiro AtsumiAmbassador Extraordinary andPlenipotentiary

EMBASSY OF THE REPUBLIC OF KOREA15 Clyde Road, Ballsbridge, Dublin 4Tel: 01 660 8800Email: [email protected]: http://irl.mofat.go.krH.E. Mr Chang Yeob KimAmbassador Extraordinary andPlenipotentiary

EMBASSY OF THE LAO PEOPLE’SDEMOCRATIC REPUBLIC74 Ave Raymond-Poincaré, 75 116 ParisTel: 0033 145 530 298

Email: [email protected]. Mr Khouanta PhalivongAmbassador Extraordinary andPlenipotentiary

EMBASSY OF MALAYSIALevel 3A–5A, Shelbourne House,Shelbourne Road, Ballsbridge, Dublin 4Tel: 01 667 7280Email: [email protected]: www.kln.gov.my/perwakilan/dublinH.E. Mr Dato’ Ramli NaamAmbassador Extraordinary andPlenipotentiary

EMBASSY OF MONGOLIA7 Kensington Court, London W8 5DLTel: 004420 7937 0150Email: [email protected]: www.embassyofmongolia.co.ukAwaiting appointment of new Ambassador

EMBASSY OF THE REPUBLIC OF THEUNION OF MYANMAR (pending accreditation)19A Charles Street W1J 5DXTel: 004420 7499 4340Email: [email protected]: www.myanmarembassyuk.co.ukH.E. Mr Kyaw Myo Htut, AmbassadorExtraordinary & Plenipotentiary

EMBASSY OF THE REPUBLIC OF THEPHILIPPINES6-8 Suffolk Street SW1Y 4HGTel: 004420 7451 1780Email: [email protected]: philembassy-uk.orgH.E. Mr Enrique ManaloAmbassador Extraordinary &Plenipotentiary and PermanentRepresentative to the IMO

EMBASSY OF THE REPUBLIC OFSINGAPORE9Wilton Crescent, Belgravia, London SW1X 8SPTel: 004420 7235 8315Email: [email protected]: www.mfa.gov.sg/londonH.E. Mr T Jasudasen, AmbassadorExtraordinary and Plenipotentiary

THE ROYAL THAI EMBASSY29-30 Queen’s Gate, London SW7 5JBTel: 004420 7589 2944Email: [email protected]: www.thaiembassyuk.org.ukH.E. Mr Kitti Wasinondh, AmbassadorExtraordinary and Plenipotentiary

EMBASSY OF THE SOCIALIST REPUBLICOF VIETNAM12-14 Victoria Road, London W8 5RDTel: 004420 7937 1912Email: [email protected]: www.vietnamembassy.org.ukH.E. Mr Vu Quang Minh, AmbassadorExtraordinary and Plenipotentiary

DIPLOMATIC REPRESENTATION FORBRUNEI is handled by the embassy inSingapore

DIPLOMATIC REPRESENTATION FORCAMBODIA is handled by the embassy inVietnam (Hanoi)

DIPLOMATIC AND CONSULARINFORMATION FOR CHINAEmbassy of Ireland, 3 Ri Tan Dong lu,Chaoyang District, Beijing 100600.Tel: + 86 - 10 - 6532 - 2691/2914Email: [email protected]: www.embassyofireland.cnAmbassador: H.E.Declan Kelleher

CONSULATE GENERAL OF IRELANDConsulate General of Ireland Shanghai,Suite 700A, Shanghai Centre, 1376 NanjingRoad West, 200040 Shanghai, ChinaTel: 00 86 21 6279 8729Web: www.irishconsulateshanghai.cnConsul General: Austin Gormley

HONORARY CONSULHonorary Consul of Ireland, Suite 1408, TwoPacific Place, 88 Queensway, Hong KongTel: +852 2527 4897Email: [email protected]: www.consulateofireland.hkHonorary Consul: Mr Harry Eugene O'Neill

DIPLOMATIC AND CONSULARINFORMATION FOR INDIAEmbassy of Ireland, C17 Malcha Marg,Chanyakapuri, New Delhi 110021Tel: +91-11-49403200Web: www.embassyofireland.inAmbassador: H.E.Feilim McLaughlin

DIPLOMATIC AND CONSULARINFORMATION FOR INDONESIAHonorary Consulate of Ireland,Jakarta Stock Exchange Building,Tower I, 12th Floor, Jl. Jend. Sudirman Kav.52-53, Jakarta 12190, IndonesiaTel: + 6221 515 1977Email: [email protected] Consul: Mr Anangga W. Roosdiono

DIPLOMATIC AND CONSULARINFORMATION FOR JAPANEmbassy of Ireland, Ireland House 5F,2-10-7 Kojimachi, Chiyoda-Ku,Tokyo 102-0083Tel: +81-3-32-63-06-95Web: www.embassyofireland.jpAmbassador: H.E. John Neary

DIPLOMATIC AND CONSULARINFORMATION FOR KOREAEmbassy of Ireland, 13F. Leema Building,146-1 Soosong-dong, Chongro-guSeoul, Korea 110-140Tel: +82-2-774-6455Web: www.embassyofireland.or.kr

Ambassador: H.E. Eamonn McKee

DIPLOMATIC REPRESENTATION FORLAOS is handled by the embassy inVietnam (Hanoi)

DIPLOMATIC AND CONSULARINFORMATION FOR MALAYSIAEmbassy of Ireland, The Amp Walk, 218Jalan Ampang, 50450 Kuala LumpurTel: +60-3-2161-2963Web: www.embassyofireland.myAmbassador: H.E. Declan Kelly

DIPLOMATIC REPRESENTATION FORMONGOLIA is handled by the embassy inChina (Beijing)

DIPLOMATIC REPRESENTATION FORPHILIPPINES is handled by the embassy inSingapore

Honorary Consul General,3/F Max'x building, 70 Jupiter St,Bel Air 1, Makati City 1209, Metro ManilaTel: 00 63 2 896 4668Email: [email protected] Consul General: Noreen Trota

DIPLOMATIC REPRESENTATION FORMYANMAR is handled by the embassy inVietnam (Hanoi)

DIPLOMATIC AND CONSULARINFORMATION FOR SINGAPOREEmbassy of Ireland, Ireland House, 541Orchard Road, Liat Towers, 8th Floor,Singapore 238881Tel: +65 6238 7616Web: www.embassyofireland.sgAmbassador: H.E Joseph Hayes

DIPLOMATIC REPRESENTATION FORTHAILAND is handled by the embassy inMalaysia (Kuala Lumpur)

Honorary Consul of Ireland,Thaniya Building, 4th Floor, Room 407, 62,Silom Road, Bangrak, Bangkok 10500,ThailandTel: +66 2 632 6720Email: [email protected]: www.irelandinthailand.comHonorary Consul: Peter Gary Biesty

DIPLOMATIC AND CONSULARINFORMATION FOR VIETNAMEmbassy Address:Embassy of Ireland, 2nd Floor, SentinelPlace, 41A Ly To, Hoan Kiem District,Hanoi, VietnamTel: + 84 4 3974 3291Web: www.embassyofireland.vnAmbassador: H.E. Damien Cole

BILATERAL BUSINESS ASSOCIATIONS


BILATERALBUSINESSASSOCIATIONSANDEUREPRESENTATION IN IRELAND

ATOMICSPECIALISTS IN BRANDING AND COMMUNICATIONS FOR BUSINESS TO BUSINESS AND ASIAN MARKETS.

T: +353 (0)1 407 0700 W: www.atomic.ie

Contact: [email protected]

IN ASIA

IRISH NETWORK CHINA IN BEIJINGhttp://www.irishnetworkchina.com

IRELAND CHINA CHAMBER OF COMMERCE IN SHANGHAIhttp://irishchamberchina.com

IRISH CHAMBER OF COMMERCE IN HONG KONGhttp://www.irishchamber.hk

IRISH CHAMBER OF COMMERCE OF MACAUhttp://irishchambermacau.com

MALAYSIAN IRISH BUSINESS NETWORKhttp://www.mibn.com.my

IRISH CHAMBER OF COMMERCE IN SINGAPOREhttp://www.irishchamber.com.sg

IRELAND JAPAN CHAMBER OF COMMERCEhttp://www.ijcc.jp

ASIA IRELAND CHAMBER OF COMMERCE IN KOREAhttp://www.aicck.org

ST PATRICK’S SOCIETY OF VIETNAMhttp://www.irevietnam.com

IRISH THAI CHAMBER OF COMMERCEhttp://www.irishthaicc.com

IN IRELAND

IRELAND JAPAN ASSOCIATIONhttp://www.ija.ie

IRELAND CHINA ASSOCIATIONhttp://www.irelandchina.org

IRELAND INDIA BUSINESS ASSOCIATIONhttp://www.iiba.ie

IRELAND HONG KONG BUSINESS FORUMhttp://ihkbf.com

IRELAND MALAYSIA ASSOCIATIONhttp://www.irelandmalaysia.com

EU REPRESENTATION IN IRELAND

EUROPEAN COMMISSION REPRESENTATION IN IRELANDwww.euireland.ie

EUROPEAN PARLIAMENT OFFICE IN IRELANDwww.europarl.ie

www.matheson.comDublin London New York Palo Alto

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Robert O’Shea leads a team of corporate lawyers who advise international companies on cross-border transactions and the establishment of business operations in Ireland.

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Contact Robert at [email protected] or your usual contact at Matheson.

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Chengdu Wuhan

Taipei

Bangkok

Jakarta

Beijing

Shanghai

Bangalore

Mumbai

Delhi

Hangzhou

Tokyo

Osaka

Seoul

Xiamen

Ho-Chi-Minh

Kuala Lumpur

Singapore

Denpasar

Manila

via Paris

via Amsterdam

via Paris or Amsterdam

Fukuoka

Hong Kong

Guangzhou

The keys to succeed in business travel to Asia

# Expand your options

AIR FRANCE, KLM and partners offer 12 daily flights from Dublin and Cork to hubs in Paris and Amsterdam. From these two modern hubs, you can enjoy seamless connections to over 20 Asian destinations.

# Optimize your time

With convenient frequent services from Dublin and Cork, AIR FRANCE and KLM provide you with excellent opportunities to minimise connection time whilst making the most at your final destination.

# Arrive readyFor a successful business trip, it is important to arrive rested and ready to work. For trips to Asia, our aim is to minimise travel time and jet lag.

For more information, please contact your Travel Agent.All information correct at time of printing. Subject to changes. Destinations via Paris and Amsterdam by AIR FRANCE, KLM and partners. Flights from Cork to Amsterdam and from Dublin to Amsterdam are operated by Aer Lingus. Even more destinations with AIR FRANCE KLM partner, China Southern, such as Fuzhou, Nanjing and Shenyang.

ireland asia business yearbook 2013

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