Asian opportunities for Irish pharma, IT, and food

Asian opportunities for Irish pharma, IT, and food
Asia Matters executive director Martin Murray. Asia Matters isIreland’s only Asia think-tank. Pic: Maxwells

By Pádraig Hoare

There are vast business opportunities in information technology (IT) and pharmaceuticals in Asia as well as food and agriculture, an expert on the region has said.

Executive director of think-tank Asia Matters, Martin Murray, was speaking ahead of a two-day business summit to be held by the organisation in Cork next week. 

The summit will focus on the IT sector on the opening day and conclude with analysis of opportunities in agriculture, food, and pharma, organisers said.

Mr Murray said at the centre of national plans to increase food and beverages exports by 85% to €19bn by 2025 was a strategy for Asia.

He said the Cork region was well-known in US and European business circles not just for global pharmaceuticals, but also for agri-business with key companies like Kerry, Carbery, and Dairygold contributing to the Republic’s 15% share of global infant formula.

“After Brexit, Cork will be the second largest English- speaking city in the EU and is already developing critical momentum in financial services, including being selected as the location for Ireland’s Global Shipping Services Centre, in which ship finance will be a key asset,” he said.

“The Moorepark Teagasc food research centre in Cork is probably one of the best food research centres in the world and there is significant well-educated global talent from Cork Institute of Technology and University College Cork,” said Mr Murray.

The summit is in the Clayton hotel next Thursday, moving to CIT on Friday.

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