Brendan Smith (Cavan-Monaghan, Fianna Fail) | Oireachtas source

I thank the Tánaiste for his detailed reply. The Global Irish Forum is an extremely worthwhile body. It was established relatively recently. To the best of my recollection, its first meeting took place at the end of September 2009 when Deputy Micheál Martin was Minister for Foreign Affairs. The Gathering, ConnectIreland and the other specific initiatives to which the Tánaiste referred are also extremely worthwhile. As he indicated, the Irish Diaspora is not confined to London, Birmingham, Coventry, New York, Boston or wherever. Its members are located in other cities in many other countries on different continents. We have important connections with those to whom I refer and these must be nurtured. We must maintain constant contact with the Diaspora.

One matter to which we often understandably refer is the importance of foreign direct investment. Outward direct investment is also important. Many Irish indigenous companies have grown to become multinational corporations. There is no longer that big a difference between the number of American people employed by Irish companies operating in the United States and the number of Irish people employed by US companies operating here. The fora to which the Tánaiste referred are all important in the context of maintaining opportunities for foreign direct investment into Ireland and outward direct investment from here, underpinning the process of networking and facilitating real engagement. Such engagement should not just take the form of getting together once a year, it should also involve ongoing contact that can enable the creation of additional business that will be of benefit to Irish people at home and abroad.

We have developed this network quite considerably since the initial meeting which took place in Farmleigh in 2009 and which was convened by my predecessor, Deputy Martin, the leader of Fianna Fáil. As the Deputy noted, the network has great potential. The flow of investment is a two-way process. Approximately 100,000 Irish people are directly employed in American companies investing in Ireland. What is not so well known is that approximately 85,000 American people are employed in Irish companies investing in the United States. The same applies to our trade with Britain which currently is worth about €1 billion a week.

The forum is enabling us to access leaders in the corporate sector and leaders in communications and education. It has been a very successful network and we are examining ways in which it can be developed further. This morning, I had a meeting with a delegation from the United States comprised of senior advisers to Secretary of State Clinton. Because they want to develop the American diaspora and network they are interested in working closely with us because they recognise that we have done pioneering work in this area. The Global Irish Network is very much a pioneering forum for developing a network of people around the world which will be to our advantage. These are Irish, well placed people with an attitude of goodwill towards this country.

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