merrion street

I am honoured to speak at the inaugural U.S. Ireland Legal Symposium which I believe is planned to be an annual event to be held in alternate years in the USA and Ireland. I wish in particular to thank Mr. Joseph T. Kelley Jr, President of the Brehon Law Society of Philadelphia, for having me here tonight.

I applaud your joint initiative and foresight. Events such as this strengthen the links that bind our two countries together and are a testament to the goodwill and enthusiasm that exists between the U.S. and Ireland. This event, however, is about more than strengthening long established ties of kit and kin – it is a practical expression of focussed engagement on legal and commercial issues that can enhance trade, foster development and be mutually beneficial to our countries.

By coming together to rigorously analyse the many complex legal issues that underpin trade and commerce, are collectively are making a worthwhile contribution to overcoming the many challenges that face this country.

As everyone here will know, President Barack Obama will travel to Ireland in ten days time. His visit reflects the close relationship Ireland and the United States maintain, his confidence for Ireland’s recovery, and will provide a huge boost of positivity to both our country and our people.

64 days ago, my Government came into Office, inheriting an unprecedented economic challenge…but we are determined to meet this challenge head on.

- Within three weeks of coming into office we adopted a radical and comprehensive restructuring and recapitalisation plan for the banking system that is being viewed as credible both by depositors and international markets.

- After six weeks, we completed a re-negotiation of the IMF/EU Programme of Support to minimise the burden on the taxpayer and to create the flexibility needed to put greater focus on employment and growth in the economy; and

- on Tuesday, we announced the details of the Jobs Initiative. This initiative is but a first step by this Government on its promise to put jobs and economic growth at the very top of the political agenda.

I am determined to get Ireland working again.

My government is embarking on a concerted campaign to rebuild and strengthen our international reputation and to make sure the international community knows that Ireland is certainly…. open for business. I, myself, have travelled to the United States twice in the last two months to Washington D.C. to meet President Obama as well as various business leaders, and last week to New York where I met US businesses investing in Ireland.

As I have said this is day 64 of this Government. By day 100 I expect this Government to have made significant progress on the issue of political reform. We have to make the structures of the State more accountable, more efficient and better able to chart Ireland’s course to lasting economic recovery.

I intend to make progress on:

Publishing the terms of reference for the constitutional convention to examine wide ranging electoral and constitutional reform;

Finalising legislation on corporate donations, introducing a six month rule for bye elections and reducing Presidential election spending limits;

Establishing a Fiscal Council to introduce additional scrutiny on the budget process, and;

Beginning the process of reforming the way Dáil Éireann works so that it can better serve the national interests of the citizens of Ireland.

This Government came to Office with the promise that business as usual would no longer be tolerated. The structures that got us into this mess will be changed to ensure it doesn’t happen again. This will be central to our economic recovery efforts.

Further to this I am positive and confident about Ireland's recovery because away from the fiscal and banking crises, the Irish are well-educated, resilient and love to work.

U.S companies when making a location decision take into account a multitude of factors. They look for a location with talent and technology backed up by a strong track record and a competitive tax environment. Ireland has proven to be such a location. New and already established multinationals continue to invest and expand their operations making Ireland the destination of choice for mobile investment projects from the world’s best companies - Nearly 90,000 people are employed by the 491 U.S. companies in Ireland.

For Ireland, as a gateway to Europe, our 12.5% rate of corporation tax is, and will remain, a cornerstone of our economic policy. It’s an integral part of what attracts and keeps investment in Ireland. It cannot be changed without our consent and it to put it simply – is not up for negotiation.

Incidentally, it is worth noting that Ireland is the 10th largest supplier to the United States and an employer of a similar number - nearly 82,000 - of people across the USA.

In this context that symposium could not have been more timely. By focussing on the diverse range of legal issues that affect trade and commerce between our two countries, and indeed globally, your deliberations will assist us all by enhancing trade for all our benefit.

As a trade dependent country, we fully understand the importance of arbitration to the international trading community. We also understand that arbitration business is extremely mobile and, against that background, we see no reason why Ireland should not develop as an arbitration centre of note on the international stage.

In support of that aim, we now have a modern and rigorous arbitration code which is fully in tune with best international practice. We also provide a single legislative reference point for all arbitrations thereby offering a significant measure of transparency for those who wish to have their dispute arbitrated in this jurisdiction.

In addition to the legal considerations, research has demonstrated that important concerns for parties when it comes to deciding on where to arbitrate their disputes are accessibility to and convenience of location, the availability of expertise, a language common to all parties and neutrality.

I believe Ireland is well-placed to build on the advantages which we have in all of these areas. We also have the necessary services and infrastructure in place which will ensure that the arbitration process will run smoothly and efficiently. Taken together with the overall support which the Government has for this development, there is no reason why we cannot capitalise upon the global demand for arbitration led solutions to international commercial disputes.

There is an ever-growing consciousness both of the need to promote a more structured approach to mediation in the legal system and of the challenges which must be met to ensure that mediation can flourish within that system. There is general support and goodwill for the wider use of mediation and I am confident that future developments in this area will capitalise and expand upon the achievements which have been realised to date so that Ireland’s capacity to offer an enhanced mediation service across a wide range of sectors will deepen and grow.

In conclusion, I am delighted that the Brehon Law Society decided to hold its first symposium here in County Mayo. The west of Ireland offers unparalleled opportunities for people and business to contribute meaningfully in an environment that is rich in culture, creativity, and heritage.

With our hard work and creativity, and the continued support of our international friends, Ireland will get there.