Donegal firms to be informed about how to share in €100 billion Asia trade

The manner in which a business hub will help Donegal firms share in Ireland's €100 billion trade boom with Asia will be discussed at a conference which begins at the Radission Hotel, Letterkenny, on October 2. 

The ‘Growing Global Business with Asia from the North West Knowledge Hub’ conference is organised by Ireland’s only Asia think tank Asia Matters. The event features key contributions from senior business and political figures.  

The newly appointed Secretary General at the Department of Enterprise, Trade and Employment (DETE), Declan Hughes, will be one of the panelists on the opening day, while Britain’s Ambassador to Ireland, Paul Johnston will speak on day two.

Martin McVicar, the CEO of forklift manufacturer Combilift, and TCS Country Head, Deepak Chaudhari are among many of the business leaders taking part in the two-day seminar.

Speaking ahead of the conference, held in partnership with Atlantic Technological University (ATU) and Údarás na Gaeltachta, Asia Matters’ Executive Director Martin Murray said the Asian economy is predicted to increase by 4.6 percent this year, up from 3.8 percent in 2022.

“Historically, Irish companies have looked towards Europe and the United States to improve overseas sales but the massive Asian market can’t be ignored. There are plenty of significant opportunities for expansion in Asia for companies with world-class products and services in the north west. The new North West Knowledge Hub will help businesses in Donegal improve links with Asia and help boost sales to the region," he said. 

On the conference’s first day, expert panels will discuss the importance of regional hubs and the best ways to grow global businesses.

The following day, the British Ambassador Mr Johnston will discuss cross-border partnerships and global opportunities with Asia Matters’ chairman Alan Dukes.

Beforehand, ATU president Dr Orla Flynn, Professor Malachy O’Neill, who is the Director of Regional Engagement at Ulster University, and Mary Grennan, the head of international education at Quality and Qualifications Ireland, will discuss the role of higher education as an investment driver. An MoU between the ATU and the Compliance Institute will be signed during the final panel discussion featuring Compliance Institute president Diarmuid Whyte, FinTrU Executive Director Sylvester Clancy, and solicitor Sally Anne Sherry.

Asia Matters was established in 2012 to improve business links between Asia, which is now the world’s wealthiest continent, and Ireland. At an Asia Matters event earlier this year, it was revealed that Ireland is on course to smash its target of achieving €100 billion worth of trade with Asia by 2025.

For more information about Asia Matters, and next month’s conference, which is supported by Donegal County Council and Letterkenny Chamber, please visit https://asiamatters.eu

It was reported in May that the value of Ireland’s two-way trade with Asia had soared to €76 billion over the last 10 years and expects this figure to exceed €100 billion by the middle of the decade.