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Asia Matters, Ireland’s only Asia-focused think tank, recently hosted a landmark Business Summit in Limerick on the theme: "Asia Now – The New Dynamics of Global Business." The event convened leaders from across business, government, and academia at a pivotal moment as Ireland intensifies its focus on trade diversification, highlighting Asia firmly on the national agenda.

“This Summit took place at a critical moment in a changing global landscape as Ireland rapidly accelerates trade diversification with Asia the top priority,” said Martin Murray, Executive Director of Asia Matters. “As an open, globalised economy, we must urgently future-proof our competitiveness by building stronger, more resilient ties with Asia.”

Key Takeaways and Calls to Action

1. Asia is Now – Not the Future

For the past 15 years, Asian economies have been the engines of global growth, with a projected 4.9% growth rate—compared to just 1.1% for the Eurozone and 1.3% for the US. Asia offers:

• A young, educated workforce
• Rapidly expanding consumer markets
• An open and collaborative approach to partnerships

2. Ireland is Strategically Positioned

Ireland’s strengths make it an ideal partner for Asian economies:

• A large, well-connected diaspora
• Robust diplomatic and trade relationships
• An innovative, open business culture
• EU access with embedded global supply chains, especially in regions like the Mid-West

For many Asian partners, Ireland is the English-speaking gateway to a 550-million-strong EU market.

3. Ireland Must Modernise to Seize the Opportunity

A structural economic shift—similar to the transformation of the late '80s and '90s—is needed to capitalise on Asia’s potential. This includes:

• Investing in hard and soft skills to equip our workforce
• Creating financial structures to attract Asian sovereign wealth funds into Irish deep tech and innovation
• Enhancing awareness within government and business of Asia’s scale, potential, and the cultural insight needed for successful partnerships

Global Engagement and Support

The summit welcomed ambassadors and representatives from Indonesia, Pakistan, Saudi Arabia, the UAE, China, India, Japan, and Singapore, who reaffirmed their commitment to strengthening bilateral trade and investment ties with Ireland, across sectors and on a mutually beneficial basis.

Academic Leadership and Collaboration

We were delighted to have key academic leaders from the ������ at this event:

• Professor Tom Newe, Head of ECE Department
• Professor Elfed Lewis, ECE Department
• Dr. Seán McGrath, Associate Vice President, Transnational Education, UL Global
• Professor Colin Fitzpatrick, Vice President, Global & Community Engagement