U.S. Chamber President Underscores Ireland’s Importance to American Business

In Speech Before Ireland’s Prime Minister, Donohue Promotes Policies to Strengthen Transatlantic Economy

DUBLIN, Ireland—In an address hosted by Ireland Prime Minister Brian Cowen and attended by senior Irish government and business leaders today, U.S. Chamber of Commerce President and CEO Thomas J. Donohue emphasized the importance of Ireland to the American business community.

“I’ve made this trip to reaffirm the American business community’s commitment to Ireland as a vitally important investment and trading partner,” Donohue said in his address at the Department of Foreign Affairs. “Despite current difficulties, we know the Irish economy is fundamentally resilient. Irish growth derived from their long-term investment in human capital, infrastructure and business-friendly policies will continue to pay off.”

Following his address, Donohue visited AmCham Ireland to meet with U.S. companies based in Ireland. Donohue also held talks with Minister of Finance Brian Lenihan and leaders of various parties in the Irish parliament to discuss how the two countries can accelerate their economic recoveries and ensure the transatlantic partnership achieves its full potential.

While in Dublin, Donohue also discussed a Chamber proposal for a zero tariff agreement on goods trade between the U.S. and the European Union (EU). This “transatlantic zeroing” agreement would create jobs by increasing two-way trade by at least $120 billion by 2015.

“Removing tariffs from the largest trading relationship in the world would not only strengthen the transatlantic economy and create jobs, it could help convince WTO members across the globe that it is time to conclude a multilateral Doha Agreement,” Donohue said.

Before leaving Dublin for talks with key EU Commissioners in Brussels, Donohue promised to return to Ireland soon to check on the country’s efforts to repair its public finances and restore confidence in its economy. “Ireland’s challenges today will be America’s challenges tomorrow. U.S. policymakers must heed the lessons of Ireland and take strong action to address growing deficits, exploding entitlement obligations, and the erosion of our competitive position in the world,” Donohue said.

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.

# # #