More than 250 Chinese and Irish firms met in Dublin today to explore the potential for new opportunities in the light of Brexit, focusing on improving trade and investment links between Ireland and China and cooperation through innovation.

The conference was organised as part of a visit to Ireland by Hu Chunhua, the leader of Guangdong province, whose team is one of the most high-level delegations from China to visit Ireland to date. Guangdong is the largest province in China by GDP — over €1 trillion annually — and generates more than 10% of the country’s total GDP.

The round table event heard keynote addresses from jobs minister Mary Mitchell O’Connor, Julie Sinnamon, chief executive of Enterprise Ireland, Martin Shanahan, chief executive of the IDA, Mary Rose Burke, chief executive of Dublin Chamber, and Niall Gibbons, chief executive of Tourism Ireland.

Seven separate Memoranda of Understanding were signed at the event, between semi-state bodies, Chambers of Commerce and companies who have agreed cooperation.

Dublin Chamber boss Mary Rose Burke said: “China is a priority market for Ireland in terms of bilateral trade, and I believe there are a lot of opportunities to increase trade across a huge variety of sectors, especially with Guangdong province. Two-way trade between China and Ireland has grown from €7.1 billion to €12.4 billion over the past four years. In Dublin Chamber, we are predicting that there is huge potential to grow this further in the coming years, particularly in light of Brexit.”

Hu’s entourage for the visit incorporated a contingent of 150 companies from the Guangdong region, which engaged in meetings with Irish enterprises to explore potential cooperation.

Hu is Communist Party general secretary of the province and is expected to be named to the seven-strong Standing Committee of the Politburo, the inner governing body for all of China, at the party’s 19th National Congress in November. It is said he could be an eventual successor to President Xi but, Chinese politics being so opaque, this is far from certain.

However, his launch of an effective anti-corruption drive in Guangdong has bought him kudos with Xi. The South China Morning Post reported that at a recent party meeting Xi praised Hu’s work in the province.

Photo: IDA Ireland boss Martin Shanahan (right) greets Hu Chunhua. (Pic: Tony O’Connor)