Dáil Éireann Debate, Wednesday - 18 April 2012
126 Deputy Pearse Doherty asked the Minister for Finance if he will provide this Deputy with a copy of the memorandum of understanding signed in China on the recent trade mission; if he will not provide a copy of the memorandum of understanding, if he will explain the reason details of an international agreement being signed on behalf of the Irish people is not being made a available to representatives of the Irish people. [17995/12]
View answerI am informed by the National Treasury Management Agency (NTMA) that the Memorandum of Understanding (MOU) signed between the National Treasury Management Agency (NTMA) and CIC International, a subsidiary of China Investment Corporation, China's sovereign wealth fund, provides that the parties will seek to work together in exploring investment opportunities in Ireland. The MOU builds on the existing dialogue between the NTMA and CIC International, and provides a framework for future co-operation in terms of exchanging information and identifying suitable investment or co-investment opportunities for CIC in Ireland. The NTMA believes the MOU represents a major initiative for enhanced co-operation and engagement in areas of common interest. CIC International is a financial investor and seeks stable and sound financial returns over the long run. It believes the MOU will be of valuable assistance to it in identifying and assessing potential opportunities in Ireland.
As the MOU is a commercial agreement between the NTMA and CIC, the Deputy will appreciate that the details are confidential and commercially sensitive. Accordingly, having being advised by the NTMA, it is not proposed to make it publicly available.
