Can China be more helpful in Ireland's economic recovery?

So far this year, Ireland's Public Expenditure and Reform Minister Brendan Howlin, and Transport, Tourism and Sport Minister Leo Varadkar have toured China to promote Ireland as a destination for investment, tourism and education. Ireland's Jobs, Enterprise and Innovation Minister Richard Bruton also will be visiting China later this month, with a delegation of Irish companies.

"We have also welcomed a growing number of high level incoming visits from China," said Gilmore.

Other positive developments included the launch of the China Ireland Technology Fund in January, he said. The fund will target investment in both Irish technology companies that wish to enter the Chinese market, and Chinese technology companies that wish to gain access to the European market via Ireland.

Gilmore noted that Irish food and drink exports to China have tripled in the past three years, growing 40 percent in 2013. China is now Ireland's second largest market for dairy exports, and in the coming years will be Ireland's second largest market for food and drink, only behind Britain.

At the turn of the century, Ireland's bilateral trade value with China recorded $714 million a year. Last year, it was $6.7 billion, according to customs data.

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