US-Irish business relations celebrated on Independence Day
Published 05/07/2014 | 02:30
A NEW deal on EU-US trade will bring more investment and jobs to Ireland, the president of the American Chamber of Commerce Ireland has claimed.
PayPal's Louise Phelan, said while Ireland's economy was continuing to strengthen, a sustained recovery was critically dependent on growth in global trade and investment.
The European Commission will host a sixth round of EU-US trade talks in Brussels in the coming weeks.
"An expected benefit is new jobs and new investment in both the SME and multinational sectors in Ireland," Ms Phelan said at the chamber's Independence Day lunch celebrating US and Irish links.
"The potential benefits are many, including an increase in the volume and value of transatlantic trade and investment.
"This in turn would boost jobs and incomes particularly in the SME sector, increase choice and reduce prices for consumers and improve the global competitiveness of both Europe and the US," she said.
President Michael D Higgins and his wife Sabina were guests of honour at the event. "Your contribution has been of vital importance in stimulating Ireland's recovery from one of the worst economic and financial crises in the history of the State," he told 400 people representing the 700 US firms that employ 115,000 people in Ireland.
"US investors have been among the first to announce that they are resuming investment in Ireland and they have expressed their confidence in Ireland in the global markets."