There is substantial potential for growth in Ireland's trade partnerships with the US, President Mary McAleese said today.
Speaking at a business breakfast in Seattle, the President said Washington State was a logical trading partner for Ireland, given the high concentration of technology companies in the area.
President Mary McAleese
Mrs McAleese said the future success of the Irish economy would be influenced by the strong ties between Ireland and the US and hoped today's meeting would develop "the ties of simple human friendship which help underpin successful commercial relationships".
The President was accompanied by 30 Irish technology companies at the business breakfast, organised by Enterprise Ireland as part of a trade mission to the US and Canada. She said Ireland relied on trade for its economic progress and had a strong commitment to winning and keeping business around the world.
"The United States is of course the most important market in the world for Irish technology companies and accounts for over one third of our exports so your home market is a priority for Irish companies seeking strong global competitive positions," she said.
"Trade relationships between us have entered a new era from the days when we exported mostly our people because we had so little opportunity for them at home and we relied on their hard-earned dollars to keep the home fires burning.
"Today a new generation of successful Irish entrepreneurs, many of whom have worked with US companies in Ireland, have moved across to the US to take advantage of the huge business opportunities in this country."
The President told the meeting in Seattle that Irish companies had invested more than $25bn dollars in the US and employed more than 65,000 people, with more than 200 companies operating in cities throughout the US.
"Given Ireland's industrial and technical strengths and competitiveness in world markets and given the strength of Ireland's business and trade presence in the US, I believe there is very substantial potential for the accelerated expansion of our trade partnership in the coming years," she said.