ZCZC
BCN-20
IRELAND-AIIB-MEMBRSHIP
AIIB membership complements Ireland’s development programs: minister
DUBLIN, Nov. 22, 2019 (BSS/Xinhua) – Ireland’s Asian Infrastructure
Investment Bank (AIIB) membership strongly complements its existing bilateral
and multilateral development programs, said an Irish minister on Thursday.
Michael D’Arcy, Minister of State at the Department of Finance, made the
remark while addressing the opening session of a two-day Asia business summit
held here.
“The Asian Infrastructure Investment Bank’s governance standards and
performance since its establishment in January 2016 reinforce the view that
it can be an effective development actor,” said D’Arcy. “It has worked very
closely with other international financial institutions such as the IMF, the
World Bank, the European Investment Bank and the Asian Development Bank to
adopt their best practices in relation to governance, organizational
practices and project appraisal,” he said.
AIIB, launched in Beijing in October 2014, is a multilateral development
bank that aims to support the building of infrastructure in the Asia-Pacific
region.
D’Arcy told the delegates to the summit that Ireland has attached
importance to the bank as well as the Asia-Pacific region.
“Asia matters, and matters hugely,” he said, adding that the government of
Ireland last year published a global development strategy called “Global
Ireland” under which Ireland plans to double its global footprint by 2025.
“One of the ranges of measures ‘Global Ireland’ commits to is the
expansion of our presence in the Asia-Pacific region,” D’Arcy said.
He disclosed that the Irish government will launch its Asia-Pacific
strategy early in the next year to provide a framework to strengthen
Ireland’s engagement with the region in the years ahead to enhance its
political relationships, deepen its trading ties and raise its visibility
there.
According to D’Arcy, developing ties with Asian countries is one of Irish
government’s priorities.
About 100 government officials, business leaders and experts from China,
Japan, South Korea, Indonesia, New Zealand, Britain and Ireland attended the
opening session of the summit which is organized by the Dublin-based
AsiaMatters, a think tank aimed to promote the business links between Ireland
and Asia.
During the two-day meeting, delegates will discuss over a variety of
issues ranging from the impact of the geopolitics on the global economy to
the tips for doing business in different countries in Asia.
A ceremony will be held at the end of the second-day meeting during which
individuals and companies who have made outstanding contributions in
promoting the business ties between Ireland and Asia will be awarded with
trophies.
BSS/XINHUA/HR/1440