Ireland could play a role in brokering the relationship between the United States and China when it holds the presidency of the European Union in the first half of next year, Taoiseach Enda Kenny has said.
At a conference on Ireland’s competitiveness organised by the American embassy in Dublin yesterday, Mr Kenny said Ireland’s position as a neutral country meant it was well positioned to “broker greater understanding [of] the sensitivities between China and the US”.
Mr Kenny also highlighted the importance of encouraging free trade between the EU and countries such as Canada and Japan.
Referring to last week’s ratification of the European Stability Treaty, Mr Kenny said Ireland had sent “a powerful signal around the world that this is a country that is serious about overcoming its economic challenges”.
The verdict “will help to create the stability and certainty that investors in Ireland need”, he said, while also enabling a strong flow of investment into Ireland.
Ireland had significantly improved its competitiveness over the last few years, he added, pointing out that Ireland had regained its position in the top 20 countries for competitiveness in the IMD World Competitiveness rankings published last week.
According to the European Commission, Irish labour costs would fall by a cumulative 16.5 per cent over the period 2009 to 2013, he said, while unit labour costs in the euro zone as a whole were forecast to increase by close to 6.7 per cent over the same period.
“These projections show that Ireland’s relative position will have improved by around 22 per cent vis-a-vis the euro area since 2009.”