Mary White (Fianna Fail) | Oireachtas source

I welcome the delegation and congratulate Mr. Joseph Quinlan on his excellent report and for pointing out the two-way economic relationship between Ireland and the USA that most, perhaps 99% of, Irish people are unaware of.

The 12.5% corporation tax rate is the cornerstone, as was said, but we are an English speaking country and Governments of whatever hue are in support of multinational investment into Ireland, which is very important. We heard the Sinn Féin representative, Deputy Tóibín, eloquently supporting the 12.5% corporation tax rate. That is refreshing and important because, as was said, confidence in the future is critical before any company will invest.

One of the points I find very satisfying is the transfer of management skills. In the 1980s many of the chief executives of multinationals in Ireland were American ex-pats whereas we now have Mr. O'Neill and all of this Irish management. We were an agriculture-based country but we were dragged into economic development by the multinationals, in my opinion. Much of my personal life is tied up with all of this.

I have two questions. First, page 81 of the report states:

...there is a better-than-fair chance that a transatlantic free trade agreement between the EU and the United States could be up for serious discussion after the US presidential elections, with both Republican candidate Mitt Romney and President Obama in favour ... of such of an agreement. As a bridge to both the US and Europe, Ireland would benefit from a trade agreement that would deepen the commercial ties between both parties.

What role can the American Chamber of Commerce in Ireland and fellow American chambers of commerce in other EU countries play in promoting such an agreement from here on?

Second, the report states at page 86: "Ireland's “to do list” is long; put another way, the race to remain globally competitive never ends." We take that for granted. If the witnesses could pick one, which would they say is the most important item on the "to do" list?