Investment in Research and Innovation – the Path to Economic Recovery
"I warmly welcome the innovation-led initiatives that DCU is contributing to including An tSli Ghlas - The Green Way, Ireland's first green economic zone. An tSli Ghlas is an excellent example of the critical role that partnerships across academia, industry and regional authorities can play in leading to significant innovation"
Dublin, 22 November 2010
Ladies and gentlemen,
These are difficult days for Ireland.
So I am delighted to be with you here today since it gives me the opportunity, amid all the current difficulties, to express my absolute confidence in Ireland's ability to build a positive future for itself.
This is not just my view. As Eurogroup and ECOFIN Finance Ministers noted in their statement last night, and I quote: "Given the strong fundamentals of the Irish economy, decisive implementation of the programme should allow a return to a robust and sustainable growth, safeguarding economic and social cohesion."
And where better to deliver this message than here in Dublin City University (DCU), one of Ireland's leading Universities, and one which I am sure will be one of the powerhouses of Ireland's recovery?
Ireland is going through a period of great difficulty, a period of unprecedented challenges. But Ireland will come through. Ireland is blessed with enduring, fundamental attributes that will help safeguard its economic future.
In the year to date, Ireland had the second largest goods trade surplus in the entire EU. One third of exports were in high tech areas, such as information technology and life sciences. And Irish exports are growing - in the third quarter of this year, overall exports showed an annual rise of around 10 per cent In 2008, it was in absolute terms the 11th largest global exporter of services. Again, about one third of these were in high-technology sectors, such as computer services, much higher than the EU average of 17 per cent.