Ahern markets Ireland as Asia's gateway to Europe

The Taoiseach has promoted Ireland as Asia’s gateway to investing in Europe after arriving for talks today with his Singaporean counterpart.

Bertie Ahern was scheduled to meet with Prime Minister Lee Hsien Loong and said he would raise the possibility of direct air links between regional hub Singapore and Dublin to help open investment opportunities for Asian firms.

Ahern also said he hoped to brand Ireland as a centre for innovation, offering good tax benefits and the capability to produce quality products – even if they cannot be made at some low costs as in Asian juggernauts India and China.

“We’re looking at niche markets, long-term investments,” Ahern said. “Low-cost is not the only cost. People want quality too,” he said at a breakfast meeting organised by the European Chamber of Commerce.

Ahern said Ireland, like Singapore was looking toward biotechnology and life sciences to beef up its economy.

He said he was not particularly worried about China or India – where low-labour costs are drawing business from around the globe – as long as the Irish economy “remained competitive” and looked toward innovative ways to attract investment.

Bilateral trade between Ireland and Singapore was only around €2bn in 2003, but Ahern predicted that could increase following his trip here.

Ahern arrived in Singapore after a brief stop in Kuala Lumpur following the Asia-Europe Summit in Hanoi.