Comment: September will see political talks continue as we enter a crucial phase in our work to restore devolution in Northern Ireland. I have been encouraged in the last number of months that the parties are anxious to see a restoration of devolution and they know that can only happen if they resolve the underlying difficulties that divide them.
But away from the politics, Northern Ireland is continuing its process of change. In fact, the often untold story is the ongoing transformation of Northern Ireland's economy.
Of course it would be wrong to suggest that, pre-1994, business was in some form of cold storage. But there's no doubt that the Troubles had a detrimental impact on Northern Ireland's business community. Civil disorder discouraged inward investors. It tempered entrepreneurial flair and led to an over-reliance on the public sector. It hampered the emergence of high-tech sectors and slowed down structural change in the economy.
Look now at the main economic indices and even the most cursory glance demonstrates that fundamental improvements have occurred. Today, unemployment stands at 5.3 per cent - half of what it was 10 years ago and lower than in Scotland and London. Indeed, it's well below the EU average of 9 per cent.
The latest economic growth figures (1994 - 2002) indicate a 24.5 per cent rise - that's above the UK average. Disposable incomes are up by 50 per cent and, despite difficulties in the global economy, inward investment in the period exceeded £3 billion (€4.46 billion) and created 40,000 new jobs.
Many of the 300 externally owned businesses operating in the region are high-tech, including blue-chip players such as Seagate Technology, Liberty IT, Raytheon and HBOS.
While they have no doubt been drawn by the high calibre of the workforce and the attractive cost-base, modernisation of the region's infrastructure has been crucial. For example, by 2005 Northern Ireland will be the first region in Europe to achieve 100 per cent broadband coverage. Every house and business will have broadband access, all at the same price.
Exports in the new economy are increasingly service- and information-based. With potentially Europe's most sophisticated telecoms system, Northern Ireland is well placed to take advantage of the growing ICT, digital and new media sectors.
Traditional communications have also improved greatly. Significant investment is ongoing in both road and rail, helping to make the most of the new M1 connection to Dublin. There are over 600 flights every week between Northern Ireland and the Republic of Ireland and Britain.
Through the Air Route Development Fund, we continue to secure new flight locations, with daily flights from Belfast to Paris being a notable recent success.
Energy is another area in which enormous strides are being taken. In conjunction with the Republic, a draft all-island development framework has been produced, charting the way forward for an all-island energy market.
Building on this, I recently launched the NI Strategic Energy Framework for the next 10 years. Its key goals are to reduce energy costs, build competitive energy markets, and protect our future by enhancing renewable energy and sustainability and securing a reliable energy supply.
Much of the impetus driving the changing face of Northern Ireland's economy comes from the universities.
Both Queen's University Belfast and the University of Ulster have excellent reputations, with over 20 schools and departments recognised as providing research to an international standard.
Importantly, the third-level education sector has embraced the need for closer links between industry and academia. Our greatest asset is our intellectual property. A key component of Government economic development policy is to maximise its commercialisation.
Northern Ireland has a wonderful scientific and industrial heritage. The challenge is to replicate that flair now in the knowledge economy.
Perhaps the best example of how that process is being realised is the Northern Ireland Science Park. Headquartered on the site where the Titanic was built and partnered by both universities, its first facility is already 75 per cent full, less than a year since it opened.
Tourism also plays a key role in our economy. Last year, we had record numbers visiting our shores. A 12 per cent increase in visitors was a major boost for the economy.
I am confident that the positive trend for Northern Ireland's economy will continue. One only has to look at the influx of major international retailers, the booming construction sector and rising rental values to realise that the region is a confident place once more. The local venture capital market is also in the ascendancy.
Northern Ireland is and will remain an open economy, relying on sales to Britain, Ireland and further afield. The old dependency on the public sector and grant aid is disappearing as we focus more and more of our attention on creating conditions which encourage entrepreneurship and business start-ups.
In the past year, Invest NI has assisted around 300 companies with 310 larger business development projects and 2,781 new business starts. Small businesses in particular are the bedrock of economic prosperity.
The prospect of a working political agreement emerging from next month's talks leading to the return of a devolved administration enhances the outlook for Northern Ireland's economy. The past 10 years have witnessed many improvements. I believe the next 10 will be even better.
Barry Gardiner is Northern Ireland minister for Enterprise, Trade and Investment
