The Telegraph
Wednesday , May 23 , 2012
Since 1st March, 1999
CIMA Gallary

Ireland sets trade target

Feilim McLaughlin in Calcutta on Tuesday. Picture by Kishor Roy Chowdhury

Calcutta, May 22: Ireland plans to increase its trade with India to 2 billion euros in the next four years from about 1.2 billion euros.

The country is looking for investments in IT, cloud computing, life sciences and other high- technology areas. In 2010, trade stood at 1 billion euros.

Dublin plans to attract at least 10 per cent of the tourists visiting the UK through a visa waiver process. It also plans to offer standardised university-level education to students.

“Ireland will benefit from Indian expertise as we don’t have enough people with the skill sets. We want to collaborate in high-technology areas. Indian businesses should think of it as a place for collaboration,” Ireland ambassador Feilim McLaughlin said at a session organised by Ficci and the Investment and Development Agency of Ireland.

“Companies will benefit from our 12.5 per cent corporate tax rate, which is among the most competitive in the European Union. We intend to double our tourist flow as we gradually come out of the recession. Our recovery has been based on exports largely,” he said.

McLaughlin said Bengal could collaborate in the dairy sector and work towards technology transfer in this field.