Mr. Patrick Daly:

Should the Chinese Belt and Road initiative be realised as described by the Chinese Government, it will be the largest infrastructural investment that the world has ever known. The project faces many geopolitical challenges, as well as pure geographical challenges. In effect the Chinese are looking to develop a modern-day Silk Road across the western reaches of their country in through Central Asia and on to Europe. There are trains moving freight across the territories already. There is a London to Beijing freight train. At the same time, there are many logistical challenges. China, as an economy, is maturing and becoming more sophisticated. They are becoming more attuned to the requirements that people have to protect their intellectual property and much of the piracy and counterfeiting activity is beginning to decline.

It would be in Ireland's interest to keep an eye on the Road and Belt initiative. I know that many western countries are putting their hand up to show their interest in co-operating with the Chinese. I think we should do that. This initiative is at an early stage and it is not altogether clear what it will turn out to be. We have nothing to lose by becoming as involved as possible.