Much of the discourse in contemporary international finance suggests that countries are in a rush to open and boost relations with the BRIC countries as they are believed to be the next major economic hubs.
Small states like ours will most likely get little headway with these growing powers due to our small influence.
So I pose the question: Should Ireland Create Strategic Partnerships with other Small States?
Ireland is not publicised around the world outside of the major economic hubs. An example of this is from a Taiwan person I know who prior to coming to Ireland, believed we were part of the UK.
So this OP suggests that we should create these strategic partnerships with small states in order to enhance our reputation in the region and claim some early markets which will inevitably grow in a resulting economic boom of the BRICs due to a flying geese paradigm.
The following are a list of States I think we could create partnerships with:
The partnerships would involve trade missions and perhaps donating expertise from this country to help develop those countries into a stable modern liberal democratic state (I know Estonia already is..). Note, no monetary financing per say, just expertise and perhaps trade agreements if the WTO allows it.
Each of the forementioned States are located near large emerging markets. They will not have the same competition as the BRICs and, if we can develop our presence in these countries, there would be many bordering countries willing to engage with Ireland.
We need to be smart with our economic recovery. Rushing blindfolded into the BRIC's just because the WSJ says so is foolish.
There are of course many other countries I could have mentioned, and if you feel I left out an obvious one, please share.
I will finish on this: Concentrating all our trade with the EU and the BRIC's going forward ignores the vast potential that is out there which would have less international competition.
What say's the board?