Foreign Affairs Minister Julie Bishop is in Dublin, talking up trade and cultural links between Australia and Ireland. Picture Kym Smith

In the first visit to Ireland by an Australian Foreign Minister since 2004, Ms Bishop has spent the day in the capital Dublin, talking up trade and cultural links between the two nations.

Julie Bishop meets with Irish Foreign Minister Charles Flanagan in Dublin. Picture: SuppliedSource:Supplied

Ms Bishop said Irish investment would be welcomed, particularly in Northern Australia, where the Government is seeking to develop improved infrastructure for mining, agriculture and tourism.

She said Australia was negotiating a free-trade agreement with the European Union, and saw Ireland as a gateway to the EU.

“In terms of the potential Australian-EU free trade agreement we certainly see opportunities in agriculture, agribusinesses, I think there are many complementary aspects to the Australian economy and the European Union,’’ she said at a joint press conference with Irish Foreign Minister Charles Flanagan.

“In terms of our bilateral relationship with Ireland … I think in the infrastructure side of things that can be done.

Julie Bishop said Irish investment would contain opportunities in agriculture and agribusinesses. Picture Kym SmithSource:News Corp Australia

“We have a Northern Australia development policy, we are looking for foreign investment into the development of Northern Australia and we would certainly welcome Irish investment.

“In the (research and development) space, Dublin is a vibrant, hi-tech city with many of the significant tech companies operating here.’’

Ms Bishop also acknowledged Ireland’s “very attractive’’ corporate tax rate of 12.5 per cent, saying it was “enough to make corporate Australia weep.’’

Earlier this week, Julie Bishop was in Washington DC, where she met with US Vice President Mike Pence at the White House. Picture: Yuri GripasSource:Supplied

The Turnbull Government has promised to cut Australia’s corporate tax rate to 25 per cent over the next 10 years, in a move that would cost almost $50 billion in foregone revenue, although the Government argues it would create a jobs boom.

Labor is opposed to the cuts, guaranteeing an enormous political fight when the Bills are introduced to start winding back the tax rates.

Mr Flanagan said Australia was an increasingly important market for Irish companies both in its own right and as a base for the Asia-Pacific region.

“There are currently over 110 Irish companies with a physical presence in Australia while at least 40 Australian companies have set up operations in Ireland in recent times,’’ he said.

“Irish exports to Australia were valued at 923 million euro (AUS$1.2 billion) in 2015.’’