St. Patrick’s Day visit to Washington - An opportunity for the Taoiseach to press the case for US Foreign Direct Investment - BREEN.

March 12th, 2010 - Pat Breen

Fine Gael’s Deputy Spokesperson on Foreign Affairs and Clare T.D. Pat Breen has appealed to the Taoiseach Brian Cowen and his Foreign Affairs Minister Michael Martin to avail of their forthcoming visit to Washington for St. Patrick’s Day to impress upon US President Barrack Obama the importance of continued strong economic ties between both Countries.

 

 

 

Deputy Breen’s comments follow the American Presidents plans to impose a surcharge on the excess returns on assets such as brands and patents which are transferred to US Companies based abroad. While the proposals are more modest that ones which the President was proposing last year, Deputy Breen said that “over 570 US Multinationals are based in Ireland, over 65 of which are located here in the Region, employing over 12,000 people. US Foreign Direct investment will play a critical role if this Region is to benefit from the green shoots of recovery and these proposals could have serious implications.”

“These proposals could have serious implications for investment in this Country from the United States and it is vitally important now that the Irish Government avails of every opportunity to get the message across that Ireland is an ideal location on the periphery of Europe for US Multinationals to be based in and of course, the availability of US Pre Clearance facilities should be capitalised upon to promote this Region as a location for those multinationals to base their Head Offices.”

“Ireland has a long and proud association and friendship with the United States and on the day when there is a special Cead Mile Failte in the White House for the Irish, the Taoiseach Brian Cowen and the Foreign Affairs Minister Michael Martin must avail of the opportunity to highlight the beneficial economic relationship between our Countries and the importance of continuing that strong economic relationship.”

 

 

 

 

ENDS