Northern Ireland’s Economy Minister Pursues Trade Balance with China

Northern Ireland’s Economy Minister, Caoimhe Archibald, has emphasized the need for a balanced approach to trade with China, highlighting the importance of both economic opportunities and upholding values. Archibald is set to embark on a five-day visit to China starting on March 4, 2024, aimed at strengthening business ties with the world’s second-largest economy.

The trip is designed to showcase Northern Ireland’s strengths in various sectors, including education, trade, tourism, and the screen industry. Notably, Archibald acknowledges the serious concerns surrounding China’s human rights and environmental records, raising questions about the appropriateness of focusing on this particular market. She stated her intention to address these issues during her visit, which aligns with her previous engagements.

Archibald explained, “I think it’s important that we engage with China on the same basis that we approach all our international engagement, so advancing our economic interests, but upholding our values and responsibilities as well.”

To guide these efforts, her team is developing an ethical investment framework grounded in United Nations principles. This framework will govern all investment and trade relationships, with a public consultation process planned to ensure transparency and community involvement.

Building Economic Ties and Addressing Trade Imbalances

The delegation includes representatives from Invest NI, Tourism Ireland, NI Screen, and local universities, with events scheduled in major cities such as Beijing, Shenyang, Dalian, and Shanghai. Archibald emphasized the potential for expanding exports, stating, “There is a significant opportunity to grow our exports and to make those connections, and to have that opportunity to go out and do that face-to-face engagement.”

In 2023, Northern Ireland exported goods worth £125 million to China, a figure significantly overshadowed by the £1 billion in imports from the country. Archibald is particularly interested in boosting exports in the medical and pharmaceutical sectors, identifying professional scientific instruments, chemicals, and materials as key products for growth.

The trip occurs against the backdrop of ongoing discussions regarding a proposed new Chinese embassy in London, which has faced delays due to security concerns. Archibald reiterated her commitment to data security but maintained that there are economic opportunities that should not be overlooked. “I think we do have to be aware also that there is economic opportunity to be garnered, and it is a case of getting the balance right in respect of that,” she remarked.

Promoting Tourism and Cultural Exchange

Archibald’s agenda also includes promoting tourism and Northern Ireland’s screen industry. She plans to deliver presentations to members of the Chinese tourism and screen sectors, highlighting the recently opened Studio Ulster, a 75,000 square foot facility located on the shores of Belfast Lough. “There are really significant opportunities to develop that and to promote that internationally,” she said.

In 2023, around 186,000 visitors arrived in Ireland from Asia, and Archibald aims to leverage this interest to enhance Northern Ireland’s appeal as a travel destination. She expressed optimism about the region’s offerings, stating, “I think that we have a really strong offer there, and it’s about going out and selling that and promoting it.”

As Northern Ireland seeks to strengthen its economic ties with China, the balance between opportunity and responsibility remains a central theme for Minister Archibald. Her trip is poised to set the stage for future collaborations while addressing the complexities inherent in international trade.