CRI听力:China-Ireland Bilateral Economic Ties

The Irish economy was one of the hardest hit by the European debt crisis.

Ireland fell into recession and was ultimately forced to accept bailout money from the European Union.

Irish Prime Minister Edna Kenny is visiting China this week.

Given the state of the troubled Irish economy, bilateral economic ties will be high on the agenda.

His visit follows Chinese Vice President Xi Jinping's recent trip to Ireland where he called for greater economic cooperation between the two countries.

During his visit to Ireland, Xi Jinping noted that China had become Ireland's biggest trading partner in Asia and noted the potential for greater bilateral trade.

Frank Barry is a Professor of International Business & Development at Trinity College Dublin.

He says Kenny's visit should focus on increasing exports to China which he believes will boost the troubled Irish economy.

"Ireland is very much an export led economy and given the current troubles in the Eurozone, the only way we see Ireland getting out of its current problems is through increased exports. As I say we have a very strong record of exporting but China is such a hugely significant market that we definitely hope to make further in roads there."

Professor Barry says increased investments in the areas of information and communications technology, pharmaceuticals and financial services would be particularly beneficial.

He also says however that he would like to see Ireland become a European hub for foreign investments.

"There are more and more Chinese companies investing overseas and so that is another area that we would be very interested in – is becoming a hub for Chinese foreign investments into Europe."

Barry says that while increased trade between the two nations will boost the Irish economy, he'd also like to see Chinese Investments in Irish bonds.

He says it would greatly help the Irish economy but he doesn't believe it is likely.

"If China with its huge savings rate were prepared to invest in Irish bonds – The European commission have sent missions over to China hoping to engage Chinese interest in investing in European bonds. So that would be another desire of ours though I think that's probably less likely."

Irish Prime Minister Edna Kenny will conclude his visit to China on Thursday.

That was Professor Frank Barry from Trinity College Dublin in that report from CRI's Emily Hennessy.