I would like to thank Ambassador Rooney and Minister Bruton for organising today’s event.
Ireland and the United States have long had a special relationship. It is a deep connection that we will always treasure as a nation.
That relationship has seen many benefits on both sides.
Generations of Irish people have played their part in the building of the United States. Contributing their talents, their labour and their heritage to weaving the rich fabric that is the United States of today.
We continue to express our gratitude to the US for their major role in supporting the peace process.
As key members of the business community in Ireland and the US, I thank you for giving of your valuable time and expertise to be with us over these few days. Today’s event will give consideration to priorities and opportunities for the important task of growing jobs between Ireland and the US.
The Irish US economic relationship is one of mutual benefit and is stronger now than at any other time in our history.
Ireland is the thirteenth largest direct foreign investor in the United States, with investments of over €32bn. Considering our relative sizes this is very significant. The United States, of course, is Ireland’s largest source of inward direct investment.
Ireland has proved to be a major gateway to Europe for the US market and recent announcements show that we continue to be an attractive location for doing business.
On this note I’d like to assure you that Ireland’s 12.5% rate of corporation tax remains sacrosanct and is a cornerstone of our economic policy and will remain so.
This view is shared across the political spectrum and public opinion in Ireland.
Our corporation tax scheme is simple and transparent while other countries choose to apply more complex systems.
But our arrangements are appropriate for our small and flexible export-oriented economy. And will help us along the road to recovery.
My mission is to grow the Irish economy back to full recovery. Along the way business will face challenging times but actions by Government must be taken to ensure survival and growth.
These include further reductions in business costs, access to credit and driving productivity and innovation.
As I have said, I want to make Ireland the best small country in the world in which to do business.
Of course, the many ties between our two countries make it easy for us to do business together. We understand each other in a way that goes beyond speaking the same language.
It is that connection that has allowed the US based diaspora to be such an important part of our Global Irish Network. This Network is proving a vital part of a national, and international, initiative in support of Ireland’s recovery.
The economic situation on both sides of the Atlantic remains challenging. More than ever, we need to work together to promote growth and create jobs.
And there is no doubt that our unique relationship is one of our greatest assets.
That is why it is so important to us to ensure that our Diaspora remain engaged with and supportive of this country.
Tomorrow many of you will be among almost 300 of the most influential Irish connected individuals abroad assembling at Dublin Castle for the second Global Irish Economic Forum.
The Forum will further develop a structured engagement between the Government and leading business figures from our Diaspora and from among our friends abroad.
It will also allow the Government to outline in detail our economic objectives and strategy to this influential group of international figures. This is an important part of rebuilding our image globally.
It is about harnessing all of our resources, at home and abroad, to feed into our economic recovery.
Thank you all for your continued commitment to Ireland, for the part you are playing in helping to restore our reputation and our economy.
And finally, thank you for your presence here today. I wish you well in your discussions and I am sure that we will see great ideas emerging from all the great minds assembled here.