All-Ireland Economic Forum takes place in Dublin

Over 120 leading Irish and international economists, economic commentators and senior policy makers from Ireland and the North took part in the first high level North-South economic forum in Dublin today.

The objective of the forum, hosted by trade and business development body InterTradeIreland, is to consider the implications for the economies North and South of the latest global economic developments, how and when the current downturn is likely to end and the prospects for recovery.

“InterTradeIreland’s role is to encourage and support North South co-operation to the mutual benefit of our economies," said David Dobbin, chairman of InterTradeIreland.

"The impact of the worldwide recession means that, more than ever before, we need to work together to gain advantage in an increasingly challenging and difficult global marketplace."

The forum will generate new ideas, based on co-operation between the two jurisdictions, on how the island, north and south, could best position itself to emerge from recession and return to positive economic growth.

The findings that emerge will be presented to both governments in the coming weeks.

“Stabilising and growing the economy is an absolute priority for the Government," Finance Minister Brian Lenihan said.

"Events such as this can help us learn lessons from elsewhere in the world so that we can implement policies to ensure that we are well-placed to prosper from the anticipated upturn in the global economy. I am convinced that by working together on an all Ireland basis we can surmount the difficulties that we face for our mutual benefit.”

Speakers at today’s conference included Dr Adam S. Posen, Deputy Director of the Peterson Institute for International Economics, Washington DC and member of the Monetary Policy Committee in the UK; Frances Ruane, Director of the Economic & Social Research Institute in Dublin; Michael Smyth, Head of the School of Economics in the University of Ulster; Linda Yueh, a Fellow in Economics at the University of Oxford, and Martin Weale, Director of the National Institute for Economic and Social Research in London.