Interview: Irish, Chinese firms see great cooperation potential in Fintech: Irish minister

Ireland looks to be a gateway for China to enter the European market as Irish and Chinese companies have great potential to cooperate in the financial technology (Fintech) area, an Irish minister said on Monday.

Ireland's Minister of State for Financial Services Eoghan Murphy is leading a business delegation to attend the 10th Asian Financial Forum, a two-day meeting centered on global financial service industry.

His visit is focused on promoting Ireland as Hong Kong's preeminent partner in Europe in the area of financial services, including Fintech, payments and cyber security, Murphy told Xinhua.

Ireland aims to bring its connectivity and experience into international financial services, and create links for Irish companies to partner with companies in Hong Kong and the Chinese mainland to access each other's markets, he said.

"Ireland has been a very successful gateway for particularly tech and financial companies coming into the European market," he said. "Fintech and payments are very strong areas where Irish and Chinese firms can find our future growth together."

The Irish government has launched a new 5-year strategy in 2015 to further improve international financial service by providing 10,000 job opportunities mainly in the Fintech area.

"I look forward to continuing to advance this goal in collaboration with our partners in China and across Asia," Murphy said.

Regarding the Belt and Road Initiative, the minister said Ireland has been actively supporting China's efforts.

"I think the Belt and Road Initiative is a very strong idea," Murphy said. "And everything that we are trying to do is consistent with what China has proposed."

The Silk Road Economic Belt and 21st Century Maritime Silk Road, proposed by China in 2013, aim to build a trade and infrastructure network connecting Asia with Europe and Africa along the ancient Silk Road trade routes.

Ireland would be the only English-speaking country that will remain not only in the European Union, but also in the euro zone after Britain exists the EU, he said, adding Ireland's advantages in innovation and education can make the country a gateway for China to the European market.

Furthermore, Ireland has been actively seeking a membership of the Asian Infrastructure Investment Bank (AIIB). Murphy said his country has received "very positive" feedback.

"we are quite happy that our application is being considered, and I think we can have some announcement later in this year," he said.

Since opening on Jan. 16, 2016, the AIIB has welcomed 57 signatory countries and approved loans of 1.73 billion U.S. dollars to support nine infrastructure projects in seven countries. Enditem