Ireland Remains the Bilateral Trade Location of Choice for US Investors in an Uncertain World
A delegation of Irish business leaders has today arrived in Washington from Dublin with the clear message that Ireland’s trade partnership with the US is stronger than ever, and that Ireland is the location of choice for FDI in Europe. Ireland Gateway to Europe will meet with their US counterparts and political representatives tomorrow, Wednesday April 11, 2018 on Capitol Hill to strengthen existing business relationships and create new ones. Ireland Gateway to Europe (IGTE) is a not-for-profit annual trade mission made up of professional advisory firms who travel the US annually to provide a secure resource network for business expansion to help US investment succeed in setting up operations in Ireland. Founded in 2012 as a response to the economic challenges at that time of global recession, Ireland Gateway to Europe is now in its seventh year of US, UK and global trade missions. Photographed is The Boston College Ireland Business Council advisory board (left-right), Dr. Bob Mauro, Director Global Leadership institute, Boston College, USA, Robert Mac Giolla Phádraig, CCO Sigmar Recruitment, Leader; Ireland, Gateway to Europe, Neil Naughton, Chair GlenDimplex (Chairman), Jim Kelliher, CFO, Drift, USA Says Robert Mac Giolla Phádraig of IGTE leadership team: “Ireland has traditionally enjoyed a particularly strong business, cultural and political relationship with the US. However, in light of the recent announcements of trade tariffs, data privacy, immigration and other protectionist policies, our concern is that there may be a perception that Irish-US trade linkages may have subsequently diminished. The fact of the matter is that the transatlantic economy grew stronger, not weaker over the past year, as did Irish -US trade with US exports to Ireland up 9% and imports to Ireland up 6%. “The purpose of our mission is to let US business leaders and policy makers know that not only is Ireland a particularly attractive European proposition right now in light of what is happening with the UK exiting the EU, but that Irish investment in the US is growing year on year. “Our message to Capitol Hill is very clear; Irish-US trade continues to grow with equanimity and therefore Ireland remains one of the best countries in the world in which to do business.” The Washington mission is the focal point of the 2018 trade mission, which also sees the group travel to Boston to engage directly with the US business community at the launch of the transatlantic Boston College Ireland Business Council (BCIBC). Having launched in Ireland last October, the US BCIBC launch will take the form of a Global Leadership Symposium where US business leaders and politicians will meet with their Irish counterparts. The theme of the event is Global Leadership, where a panel of global CEOs will discuss how they, as a transatlantic leadership community, can create opportunities against the backdrop of economic challenges. The purpose of the BCIBC is to establish new, and strengthen existing, transatlantic business ties between the two countries, and it is designed to enhance transatlantic business between the US and Ireland through creating connections that allow for entrepreneurial ventures to grow and prosper. The Global Leadership Symposium is one of a series of planned BCIBC CEO Exchange events that will take place twice annually over the coming years, both in Ireland and in the US. Founded by the Global Leadership Institute, Boston College, and Ireland, Gateway to Europe, and Chaired by Neil Naughton of GlenDimplex, the main aim of the BCIBC is to bring influential business leaders from both communities together once a year in Dublin and in Boston to create one deeply connected transatlantic trade artery. Says Mac Giolla Phádraig: “By establishing the BCICB, the tight commercial and social bonds we share with the US can be strengthened and build upon bilaterally, business to business, in spite of any potential external or internal protectionist political policies. It’s widely known that cultural ties between Massachusetts and Ireland are deep but possibly lesser known are the strength of economic ties with 11,000 people employed by Irish companies there and Ireland being the 6th largest exporter from MA. “The BCIBC community of transatlantic business leaders have a collective, critical role to play to ensure the future foundation of business relations is maintained for generations to come.” Neil Naughton, Chair GlenDimplex says: “We established the Boston College Ireland Business Council (BCIBC) to cultivate, nurture and encourage business relationships between Ireland and our Bostonian brothers after the success of Aer Lingus American College Football Classic, held in Dublin in 2016. After welcoming 25,000 visitors, many relationships, both business and social, were formed. Our overall objective in establishing BCIBC was to create a continuous network to allow for business relationships to blossom and in turn create opportunity for the people of Ireland and Boston.” Speakers at the launch of the BCIBC include Minister Michael D’Arcy, Irish Minister for State, Dan Mulhall, Irish Ambassador to the United States, Neil Naughton, Deputy Chairman, GlenDimplex, Gregg Adkin, VP & Managing Director, Dell Technologies Capital, David Cancel, CEO, Drift, John Harthone, Founder of MassChallenge and Polina Raygorodskaya, Co-Founder & CEO Wanderu.
