Taoiseach opens economic forum in Farmleigh

Key businesspeople and cultural figures have gathered in Farmleigh House in the Phoenix Park from today until Sunday to attend the Global Irish Economic Forum, which has been organised by the Department of Foreign Affairs.

A ‘unique’ occasion
In his speech today the Taoiseach described the forum as a “unique” occasion as it is the first time that “the most influential and successful members of our global community have assembled in one place and with a common purpose.

“I hope our discussions will lead to a number of practical outcomes to help with the current economic challenge.  However, they should also take a longer term view of the relationship between Ireland and its diaspora and how we can deliver sustainable progress in the years to come,” he said.

The Taoiseach’s speech also included a reference to the importance of Ireland passing the Lisbon Treaty in the upcoming referendum next month. The job of attracting and securing inward investment, and the employment that it supports, would be made “much more difficult” if the country does not endorse the treaty, he noted.

The Taoiseach said the agenda of the forum was designed to “seek advice on developments and initiatives abroad that can ensure Ireland is prepared for the global upturn”.

“We will be considering issues ranging from image to innovation, and from buoyancy to branding.  We must remind ourselves that it is not just the actions we take to prepare ourselves that are important, it is our attitude as well. We must act with hope rather than despair, courage rather than fear, and we must look ahead rather than behind.”

Being Irish, the Taoiseach said, holds a distinct and intrinsic value. “People know us. Our country, her landscape and her culture are known the world over. We must develop and renovate that brand now and use it in order to give us a competitive advantage in a globalised world.  We, ourselves, must portray the positives that others see in us.

“We must harness the best asset Ireland has to offer – the talent and ingenuity of our people,” he said.

Ireland of the future
The Taoiseach also outlined a vision for the future of Ireland as “a smart, high-value, export-led economy”, with some of the world’s leading research-intensive multinationals, “a number of which will be Irish-owned”.

Ireland of the future would also have thousands of innovative small and medium enterprises, which would be creating the products and services of tomorrow and providing high-quality employment, the Taoiseach said.

He said the Government was “firmly in listening mode” and he called upon the forum attendees to help Ireland identify opportunities and to shape the country’s strategies to take advantage of them.

Forum attendees include international and Irish business leaders and well-known cultural figures such as Craig Barrett, the retired CEO and Chairman of Intel; Bob Geldof; Dennis Swanson, the President of Fox Television Stations; Aer Lingus chairman, Colm Barrington; Denis O’Brien, chairman of Digicel; CEO of Qantas Alan Joyce; John Moloney, Group Managing Director, Glanbia; Jim O’Hara, General Manager, Intel Ireland Vice President; Anita Sands, Former Managing Director, CitiGroup; Myles Lee, CEO, CRH; the managing director of Deutsche Bank, London, Basil Geoghegan; and Brendan McDonagh, chief executive of HSBC North America.

The programme will consist of five separate sessions over the course of two days at which invitees, joined by members of Cabinet, will engage in what Minister Martin described as “substantive debate and discussion”.

The titles of the five sessions are: ‘The global economy: positioning Ireland for the upturn’; ‘Ireland – the innovation island’; ‘Promoting brand Ireland through our global cultural profile’; ‘Ireland’s image abroad: what is it now; how can it be improved; and what role can new media play?’; and ‘Ireland and its Diaspora: harnessing a unique resource’.

There will also be 11 small breakout working groups on the second day of the forum, which will consider a range of economic issues relevant to the development of the ‘Smart Economy’.