It is a great pleasure for me to be here today at the launch of the A & L Goodbody Chinese Lawyers’ Internship Programme.
I saw this morning in Beijing, and yesterday in Shanghai, the dynamism of the trading relationship that exists between Ireland and China. As one of the world’s most open economies Ireland relies on the energy and commitment of its entrepreneurs to grow our exports and lead our economic recovery. We also rely on the vision and initiative of business leaders to identify and develop new areas of cooperation with international partners. I would like to congratulate A&L Goodbody for their enterprise and their courage in developing this programme which has the potential to take the business relationship between China and Ireland to a new plane in its development of a professional network which will benefit both countries.
A&L Goodbody has long been one of Ireland’s leading law firms. Its all Ireland footprint, its international presences and the quality and width and depth of the services which it offers have led to numerous awards through many years. Its enthusiasm in reaching out to China to lead the way in developing an internship programme for younger lawyers from China’s leading commercial law practices, soon to be extended to China’s leading Universities, is the kind of example which will encourage other Irish professional services firms to explore possibilities in China.
I know, for example, that a leading Irish accountancy practice is considering using the A&L Goodbody model to develop a similar programme for Chinese accountants.
China and Ireland are very different in many ways, notably in size. Our small island of 6 million people on the periphery of Europe, with its small economy is hard to compare with the most populous nation on earth and the second largest economy in the world.
Nevertheless there are things which we hold in common. We have long histories and a strong attachment to family and tradition. At the same time both our countries have transformed radically in our recent past. I know Ireland’s transformation from an agrarian society to a high technology economy is a model that which interests China, which has itself developed rapidly since the reform and opening up. While China’s economy has continued to grow at phenomenal rates, we in Ireland hit a speed-bump a few years ago. The crisis in Ireland though was never about the fundamental strengths of the economy, but rather about an imbalance in tax income, loose banking supervision and an overinflated property market. Since my Government received its mandate to take strong action to put Ireland back on track we have restored economic stability. Our public finances are under control, our exports are booming and foreign direct investment is pouring in to Ireland. The business world is betting on Ireland because we have one of the best educated workforces in the world, we are one of the easiest countries in the world in which to do business, we have a simple and transparent tax system and we are welcoming of all those who would wish to do business in Ireland.
China will continue to play a very important part in our economic strategy. We have particular strengths in food and agriculture, in life sciences, in financial services, in information technology and in educational services which complement Chinese strengths. We have much to learn from each other as we continue to move forward in our relationship.
Allow me to focus on this programme as an example of that mutual learning possibility. As a young, English speaking country with a common law tradition we offer very positive advantages for Chinese lawyers and law firms seeking to understand western business practices. Our long and continuing ability to attract investment from the USA means our lawyers have a long experience of dealing with multinational corporations and their complex legal needs.
As China integrates further into the global economy that kind of knowledge will be ever more important for Chinese companies. At the same time European legal firms need more and more expertise in China and partnerships like this one between A&L Goodbody and leading Chinese firms allow that expertise to develop.I am very happy that we have with us today the first four participants in the programme which began last September in Dublin.
I have no doubt that these first alumni of the programme have returned from Ireland with a wealth of experience which will benefit them personally and will benefit their firms. I hope as well that it will benefit Ireland. Having spent a little time on our green island I hope that you will have returned with an understanding of our passion for work, our passion for innovation and our passion for excellence. These too are qualities which A&L Goodbody brings to this new partnership between China and Ireland, and which I know will make this programme flourish.