ADDRESS BY THE PRESIDENT OF IRELAND MARY McALEESE AT THE LAUNCHING OF THE ASIA-IRELAND CHAMBER
ADDRESS BY THE PRESIDENT OF IRELAND MARY McALEESE AT THE LAUNCHING OF THE ASIA-IRELAND CHAMBER OF COMMERCE, BANGKOK
Honourable Minister
Presidents of the Asia-Ireland Chamber of Commerce and the Chamber of Commerce of Ireland
Excellencies Distinguished Guests
It is a long journey from Dublin’s River Liffey to Bangkok’s Chao Phraya River, with its splendid Grand Palace, its outstanding temple architecture and the busy commercial life that abounds along its banks. At a time when the world’s peoples have a greater capacity than ever before to get to know each other, even sizeable distances need no longer divide us. We are here today to help bring our two countries closer together on a rising tide of commercial activity within an increasingly interdependent global economy.
It is a pleasure for me to be with you this afternoon for the launch of the new Asia- Ireland Chamber of Commerce. I wish to thank the Chamber’s foundation President, Liam O’Keefe, for his kind welcoming remarks. The new President, who has spent more than 30 years in this country, is a perfect illustration of how well the Irish integrate with their host societies wherever we settle. This new venture will be a success if it encourages more Irish people to follow in his footsteps as an active Irish participant in the thriving business life of Thailand.
The presence of the President of the Chamber of Commerce of Ireland, Monica Leech, the Chamber’s Vice-President, Mark Staunton, its Chief Executive, John Dunne, and an accompanying business delegation testifies to a very genuine commitment to building a stronger Irish business presence in Thailand and its neighbours. It is significant that this is the first organised visit to Thailand by an Irish business grouping.
My best wishes go to the Chamber’s Executive Director, Gerard Doyle, who has, with the support and encouragement of the Irish Government, pioneered links between the Irish Chamber and its counterparts in ASEAN countries. This led to a Cooperation Agreement between the Irish and Thai Chambers and to this decision to locate the Asia-Ireland Chamber here in Bangkok.
It is a source of particular satisfaction for me to be the first Irish President to visit
Thailand and a particular joy for Martin and I to return to a country which we first visited and were fascinated by a decade ago. On this visit we have received a very warm welcome from the Government and people of this enchanting country, which is unique in this part of the world in its historic achievement of remaining free from foreign domination. In the light of our own history, we Irish have a great regard for the resourcefulness of other nations in defence of their sovereignty.
There was a time when, as primary producers of food, Thailand and Ireland were destined to inhabit radically separate worlds shaped by the productivity of our agriculture and the very different products in which we specialised. That day is no more. The new realities of global trade and investment have seen to that. Just as the delights of Thai restaurant cuisine have reached Ireland, and the Irish pub has found a following in this country, so too our businesses are discovering each other’s capacities and potential.
Many Thais will know about Ireland because of our footballers and pop stars, while we are well aware of Thailand’s family connection with Tiger Woods who was by coincidence in Ireland in recent days! At least one Irish company is now in Thai ownership and I am sure that today’s event will help prime new flows of trade and investment in both directions.
Ireland’s economic development has taken a distinctive course, contrasting with most of our European neighbours. Like the countries of Southeast Asia, we are recent, rapid movers in economic terms. Indeed, when analysts searched for words to encapsulate what they saw as an Irish miracle of sustained, substantial growth, they looked to Southeast Asia for analogies and began referring to us as ‘the Celtic Tiger’.
Ireland never possessed any overseas colonial territories, which meant that our ties outside of Europe were mainly those created by the emigration of millions of Irish people, most notably to the United States, Australia and Great Britain. The structure of our economy also militated against the evolution of close commercial associations with more distant markets. Until recently, Irish-owned companies were relatively small in scale and did not have the opportunity to build up a network of international affiliates and subsidiaries.
The contemporary transformation of the Irish economy has changed all of this. Ireland is now ranked as the world’s most fully-globalised economy, with multiplying interests wherever advanced goods and services are in demand. A key factor conditioning this advancement has been our membership since 1973 of the European Union, whose economic integration was crowned this year by the smooth, successful introduction of a single currency by the 12 nations of the Eurozone, among them Ireland.
Ours is an open, trade-dependant economy, rich in knowledge and skills. The existence of a youthful, well-educated population, a low taxation regime, a set of business-friendly Government policies and our position within the European Single Market have encouraged some 1,200 overseas corporations, including many of the leading lights of the global economy, to choose Ireland as the English-speaking base for their European operations.
For Ireland, the decade of the 1990’s yielded dramatically positive results as our annual growth rate soared to an average of nearly 9% between 1994 and 2000. A long tradition of emigration has been reversed. Significant numbers of Irish people have returned home while immigrants from many lands, including Thailand, have come to avail of employment opportunities within our expanding economy. The global uncertainties of the last year have inevitably affected us, but we remain confident about our future and are taking steps to reinforce our national competitiveness.
We realise that our economy cannot stand still. In a changing world, today’s business tiger could easily become tomorrow’s fossilised dinosaur. We like this successful Ireland, this Ireland which is realising its potential for the first time in its long, troubled history and we have set ambitious goals for ourselves. We want Ireland to be a leading edge participant in the knowledge economy of the future. Our country now has the capacity, and the desire, to sustain a world-class infrastructure geared to the needs of a rapidly changing global economy, and to be a leader in key areas of technological innovation. With this aim in mind, we are investing heavily in our future. This economic drive is aimed at creating and maintaining a prosperous, socially-inclusive and cohesive society with a culture of lifelong learning and a focus on sustainability and environmental protection. We know that our biggest natural resource is our people and their empowerment is the key to harvesting that resource.
One of our key aims is to develop more intensive links with the dynamic economies of Asia. The Irish Government is actively encouraging Irish-owned companies to spread their wings and establish a greater presence in Asian markets. Our companies need to acquire a greater global reach through astute partnerships in key regions. Because of the small size of our domestic market, the Irish economy is trade-driven, with exports amounting to some 90% of our GDP. In recent times, our trade with the Asia-Pacific region has expanded impressively. Last year, our sales to this region exceeded €9 billion (approx 360 billion Baht), an increase of 140% since 1997, and that, despite the difficulties created by the Asian financial crisis.
At a time when Irish trade has been on an unprecedented growth path, the expansion of our exports to Asia has comfortably exceeded overall export growth. Asia now accounts for 10% of total Irish exports. Trade with Thailand has also grown steadily and now amounts to €450 million (18 billion Baht).
Ireland looks with particular interest at the economies of Southeast Asia. We admire the way you have come to terms with the demands of the global economy. In this part of the world, we see societies, like our own, that are new to the experience of industrialisation and yet are making enormously impressive advances. We recognise the huge potential of ASEAN, with its combined population of 500 million and the ongoing establishment of the ASEAN Free Trade Area. The prospect of an ASEAN plus China free trade area becoming a reality in the next decade, only adds to the appeal of ASEAN nations as key partners for Ireland. Irish exports to ASEAN more than doubled between 1998 and 2000. From modest beginnings, and without any traditional foothold here, we are becoming a significant trader with the ASEAN region.
Education is one area where Ireland does have extensive traditional links with Asian countries. Our Universities have a strong tradition of providing places to students from outside of Ireland, especially, though not exclusively, in medicine. With our advanced, English-medium system, which has contributed richly to recent Irish successes by equipping our people for the needs of the new economy, we would welcome increased numbers of Thai students. It is good to learn that the new Chamber plans to prioritise links in the field of education.
I want to conclude by commending the Chamber of Commerce of Ireland for their
foresight in deciding to set up an Asia-Ireland Chamber of Commerce and for choosing to locate it here in Bangkok. This promising initiative represents a new chapter in our commercial relations with Thailand and the other dynamic Asian economies. It is the start of an adventure, the start of a journey in mutual prosperity and partnership. As this story unfolds, we look forward to greatly increased Irish business activity here, supported also by Enterprise Ireland’s regional office for ASEAN. The people in this room know how much there is to be gained from a closer partnership between Ireland and Thailand. You are seed-bedding a bright new future between Ireland, Europe’s fastest growing economy and Thailand, Southeast Asia’s rising star. Future generations will have much to thank you for and I wish you great energy and imagination for the way ahead. Most importantly I wish you success.
Thank You.