Huge potential seen in China-Northern Ireland trade and investment cooperation

Huge potential in trade and investment is seen between China and Northern Ireland, and continuous efforts should be made to deepen cooperation between the two sides, government officials and business leaders said at a forum held in Belfast, Northern Ireland, on Tuesday.

They made the remarks at the first China–Northern Ireland Economic, Trade and Investment Cooperation Forum, which brought together more than 100 companies from both China and the United Kingdom, as well as over 350 representatives from governments, enterprises and institutions from the two sides.

Co-hosted by the Consulate General of China in Belfast, Invest Northern Ireland, and the China Chamber of Commerce in the UK, or CCCUK, the forum carried the theme "Communication, Dialogue and Cooperation — Together for a Better Future".

In his keynote speech, Zheng Zeguang, Chinese ambassador to the UK, outlined China's development priorities under the forthcoming 15th Five-Year Plan, highlighting that economic growth and opening-up remain at the core of the country's agenda.

He welcomed businesses from all countries, including the UK, to seize opportunities brought by China's opening-up and grow together with the Chinese economy.

In addition, he said the diplomatic relations between China and the UK have kept moving forward since they were established 53 years ago, despite some ups and downs, while emphasizing that local cooperation is an important pillar and foundation of China-UK relations.

"For a long time, Northern Ireland, with its unique location, favorable business environment, and world-class educational and research resources, has become a key window for China to engage with the UK and European markets,"he said.

He added that China and Northern Ireland should deepen collaboration in key and emerging industries such as green energy, financial technology and the digital economy, while expanding two-way investment and enhancing trade and business exchanges.

Li Nan, consul general of China in Belfast, said in his welcoming speech that the forum is set to consolidate cooperation between China and the UK at a higher level, injecting new momentum and positive energy into the sound and steady development of China–UK relations. He also noted that this year marks the 10th anniversary of the establishment of the Chinese consul general in Belfast.

Ashton Reilly, junior minister of the Northern Ireland Executive Office, who represented Caoimhe Archibald, the Northern Ireland Assembly's minister for the economy, reaffirmed the local government's commitment to strengthening ties with China.

"Our relationship with China is built on mutual respect, shared interests and growing economic ties. We consider our relationship a valuable one, and we recognize the importance of continuous engagement to expand potential opportunities," Reilly said. "We look forward to building on this great collaboration and those relationships in the years to come."

Fang Wenjian, chairman of the CCCUK and general manager of the Bank of China London branch, described Northern Ireland as a place where education, innovation and entrepreneurship come together naturally — an environment where Chinese businesses love to invest and grow.

He said the Chamber will help bring Chinese companies into Northern Ireland and assist Northern Irish firms in entering the Chinese market.

Fang concluded optimistically that the outlook for China–Northern Ireland cooperation is bright and full of opportunities.

He also signed the Strategic Cooperation Framework Agreement between Invest NI and CCCUK with John Healy, chair of Invest Northern Ireland.

"Our mission is simple but powerful - to be a bridge that works both ways, and we will ensure that cooperation is not just signed, but sustained, strengthened and successful," Fang said.

Two panel discussions were also held, where business leaders from both China and Northern Ireland shared successful examples of cooperation and expressed strong confidence in future collaboration, such as green energy.

Keith Anderson, CEO of Thompson Aero Seating, a supplier of business and first-class aircraft seating that was acquired by the Chinese shareholder Aviation Industry Corporation of China, or AVIC, in 2016, said Chinese investment has been crucial to the company's global growth.

"Without that investment, without that support, I would predict quite comfortably that we would not exist today," Anderson said.

Meanwhile, Wang Tinjiang, chairman of Thompson Aero Seating, said that Thompson also plays a role in helping AVIC take part in the global supply chain and ecosystem.

Bono Ge, country manager of BYD UK, said the Chinese electric vehicle maker sees Northern Ireland as a market with great potential due to its lower electricity costs compared with the UK average, abundant wind power resources, and the UK government's supportive policies for electric vehicles, such as the Zero Emission Vehicle (ZEV) Mandate.