British Ambassador to Ireland says cooperation between Ireland and the UK will help overcome the challenges ahead
Date: 26 February 2010 
Ambassador King addresses members of the Institute of Directors in Ireland
His Excellency, Julian King, British Ambassador to Ireland has today addressed members of the Institute of Directors in Ireland (IoD) on the need for both countries to work together towards economic recovery.
Speaking at the Institute of Directors in Ireland Spring lunch, held in the Four Seasons Hotel in Dublin, Ambassador King called for cooperation between the UK and Irish governments so as to yield benefits for both economies, particularly in the area of trade and foreign direct investment.
“Trade is an essential component of any recovery. However, while Ireland and the UK trade extensively with one another, we need to do more than sell to each other if we are to prosper. We need to get British and Irish companies who have never sold abroad before to do so, this applies particularly to the SME sector. We need to get existing exporters into new, more difficult markets, into countries where the challenges may be greater, but the potential rewards are enormous,” he said.
He also commented on the importance to both economies of competing for foreign direct investment. “As well as the boost to exports and the jobs created, foreign direct investment promotes greater competition and quality among indigenous firms. Sometimes Ireland will win, and sometimes the UK. But there are times when both will win and support each other.”
He concluded: “With 43,000 directors of UK companies being Irish, more than any other nationality, the depth and breadth of the connection and relationship between both countries is deep rooted. Few relationships can have as much potential. By working together we can face, and are facing, the challenge of returning to sustainable, long-term economic recovery and growth.”
Maura Quinn, Chief Executive of the Institute of Directors in Ireland, added: “By learning from the past and looking to the future, by working together and supporting one another, by building and developing our talent and our knowledge base, and by deepening our existing relationships - Ireland and the UK can build towards recovery.”
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