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Chinese delegations visiting Republic soar due to Brexit

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Interest: Mary Rose Burke

Interest: Mary Rose Burke

Interest: Mary Rose Burke

International markets are increasingly looking to the Republic for potential opportunities due to Brexit, with a five-fold increase in the number of Chinese delegations visiting so far this year.

Dublin Chamber said interest had also been expressed from Korea, Indonesia, Singapore, as well as the Western Balkans and Belgium.

"We've seen a lot of inbound activity," said chamber chief executive Mary Rose Burke.

Ms Burke said there have been 10 delegations from China so far this year, whereas there were just two in the same period in 2016.

Some have been high level and have involved the Department of Foreign Affairs and the Chinese Embassy, with one recent event involving food, technology, finance and aircraft leasing sectors.

"I think everybody is looking to the future, with the change, where potential new markets are. We would feel that Ireland is on the map and on the radar of these countries," Ms Burke said.

"Places like Singapore would be appearing to take more of an interest in Ireland and I would interpret that as being on the back of Brexit. People are looking at what does their European strategy mean in the event of Brexit."

Interest from Hong Kong came from the fintech and ICT sectors, from the ICT sectors in Western Balkans and Hungary, and from the logistics and maritime transport in Belgium.

One in four firms now think Brexit will have a positive impact on their business as they look at the potential for new markets beyond the UK, a survey by the chamber found.

The chamber, which represents over 1,300 companies across the four local authority areas, said that almost one in four companies - 23% - believe that Brexit will affect them positively.

Belfast Telegraph