Promoting Investment Home & Abroad
Over the past quarter the Chamber has been working strenuously on both sides of the Atlantic to promote US investment in Ireland. This has included meeting key political figures, producing new publications, and participation in the US State Department Trade and Economic Development leadership programme.
On May 27th the Chamber ran the Transatlantic Business Lunch & Forums
. This day was dominated by messaging surrounding the size, scale and importance of US FDI in Europe and specifically Ireland. The Chamber's Board received a presentation from IDA Chief Executive Barry O'Leary, before a lunch of Chamber members was addressed by Joesph Quinlan. Joseph Quinlan is a leading economist with the John Hopkins University, Centre for Transatlantic Relations and Chief Market Strategist for Bank of America Capital Markets. His address outlined the importance of the Transatlantic Economy for Ireland. Following the lunch Mr. Quinlan participated in two forum meetings, one with media and one with Irish Economists. A special booklet ‘Ireland & the US in the Transatlantic Economy,' was produced for the day, which is available here
The Chamber's Commercial & Public Affairs Director Brian Cotter participated in a US State Department Trade and Economic Development leadership programme between May 3-21, 2010. The meeting itinerary included meetings with economic and trade specialists in international relations and investment, policy planners, academics, economic journalists and business and labour leaders in Washington, Chicago, Dallas, Salt Lake City and San Francisco. The combination of meetings and networking forums gave an excellent insight into the layered nature of decision making in the USA from the Federal, State and City/Community level. At the trade policy level, it was clear that a new trade deal at the WTO looks very unlikely and the preference of policy makers is for the effective implementation of current rules based system at WTO combined with further bilateral agreements. At the investment level, it is clear that there is a lack of recognition of the scale and dynamic of the US-EU relationship - especially at the State and City economic development level. As a result, the American Chamber is bringing a proposal to the European Council of American Chamber's of Commerce to create an ‘Why Invest in Europe?' report in September.
Following on from the trip made by Brian, Chief Executive Joanne Richardson, will travel to Washington D.C. in October as part of the annual programme of the European Council of American Chambers of Commerce. As with previous years Joanne will use this trip to meet with influential individuals within US policy making circles and ensure that the important role Ireland plays in the overall strength of US business is never underestimated.
In June a delegation from the American Chamber met with Minister for Enterprise, Trade & Innovation Batt O'Keeffe T.D. The minister was briefed on the importance of FDI in Ireland, and the needs and concerns of Ireland's multinational community.