China's direct investment in Ireland totaled 1.1 billion U.S. dollars by the end of 2020, creating around 3,000 new jobs for the local public, Chinese Ambassador to Ireland He Xiangdong said here on Wednesday.

 

China is now Ireland's fourth largest trading partner, the largest export market for Irish pork and the fifth largest market for Ireland's food and beverage exports, he said during an online meeting organized by Asia Matters, a Dublin-based think tank, in partnership with Cork City Council and Cork County Council.

 

In 2021, the goods traded between China and Ireland were valued at 22.9 billion U.S. dollars, up 27 percent compared with the previous year, he said, adding that 5.9 billion U.S. dollars worth of goods were traded between the two countries in the first quarter of this year, an increase of 14 percent year-on-year.

 

The potential of bilateral economic cooperation is huge as the two economies are highly complementary to each other, he noted.

 

He called on both sides to expand cooperation in the fields of healthcare, green technology, green finance, fintech and digital economy, while further deepening cooperation in traditional areas, such as goods trade, finance and manufacturing.

 

"This year marks the tenth anniversary of the China-Ireland strategic partnership for mutually beneficial cooperation," he said, adding that the past ten years have witnessed a good growth momentum and new progress.

 

He said that China attaches great importance to the two countries' relations and is ready to deepen exchanges and cooperation in various fields.

 

"Working together, we can make the pie of cooperation even bigger for our two peoples to benefit from and advance the shared interests between our two countries," he said.

 

An estimated 300 people from various walks of life attended the opening session of the two-day meeting. The event, titled EU Asia SME Scaling Summit, is aimed at strengthening business links between Ireland and Asian countries, including China.