Ireland is over-reliant on US multinationals and should diversify — Ireland Canada Business Association

'By continuing to build the economic and business relationship between Ireland and Canada, we can reduce this concentration risk and grow our trading relationship', said its chairwoman

Irving Oil, Whitegate refinery in East Cork. They are one of the main Canadian multinationals based here. Picture: Eddie O'Hare

Ireland can reduce its concentration and reliance on US multinationals by increasing economic relationships with Canadian firms, the chairwoman of the Ireland Canada Business Association (ICBA) said.

Deirdre Giblin said the organisation's recent economic report highlighted the over-reliance Ireland has on US firms. Speaking on the results of a business survey to mark Canada Day, Ms Giblin said US foreign direct investment is very valuable and must continue but that Ireland still needs to diversify