The National Assembly of Irish-American Republicans will convene a "summit meeting" in Washington in October to which business leaders from Ireland and the US will be invited.
The conference will bring together leaders of small, medium, and large-sized companies "of different political affiliations, nationalities and faiths" interested in expanding economic co-operation between the US and Ireland, the assembly said.
The first such gathering took place when former President Bill Clinton convened an investment conference on Northern Ireland in May 1995 attended by members of every political party in Northern Ireland and the Republic.
"Last week, President Bush set forth a positive vision for an even stronger friendship between the US and all the people of Ireland," said Ms Susan Ann Davis, president of the Irish-American Republicans.
"We are calling on the business community to come together, forge new relationships, create new ventures, and make the President's vision a reality. The US-Ireland Business Summit 2001 will be dedicated to encouraging economic growth and prosperity, and creating new jobs and opportunities on both sides of the Atlantic."
Representative Jim Walsh of New York, Republican chairman of the all-party Friends of Ireland, said: "As Irish-Americans, we're particularly proud of our heritage and of our president. As Republicans, we understand that there is no substitute for the knowledge, experience and problem-solving ability of the men and women who start and build businesses, and seek a stake in their communities."
The emergence of the assembly follows a rise in prominence of Irish-American politicians, activists and voters in the Republican Party which has traditionally been more sympathetic to the British view on Northern Ireland. It has taken a policy line similar to the Democrats, supporting the Belfast Agreement and the full implementation of the Patten Commission report on policing in Northern Ireland.
A number of Republican Congressmen, including Mr Peter King, Mr Jack Quinn and Mr Jim Walsh of New York, and Mr Chris Smith of New Jersey, have championed Irish causes in Congress.
