Cowen to attend world economic summit

Taoiseach Brian Cowen today travels to a major world economic summit in Switzerland – as Irish job losses reached 5,000 for January.

Dell’s 1,900 lay-offs in Limerick were the single biggest announcement during the month followed by 550 redundancies at Ulster Bank and 400 at Superquinn stores.

Mr Cowen will join 2,500 delegates from 96 countries attending the five-day World Economic Forum in Davos, running under the theme: 'Shaping The Post-Crisis World'.

The organisers claim 41 heads of state or government will be present alongside scores of finance, foreign affairs, trade and energy ministers.

As well as the global economy, other issues being discussed by the WEF include climate change and food and water security.

Mr Cowen will tonight address a dinner organised by IDA Ireland where he will tell major international companies that Ireland remains a very attractive base for investment.

He will tomorrow join other world leaders at a key working session on the global economy.

The Taoiseach said Ireland was at a critical point in the development of its economy.

“Ireland is one of the most open economies in the world and we need to participate in the international debate about the global economy,” he said.

Mr Cowen pointed out that Ireland was hugely dependent on international trade and he said he will be tirelessly promoting the country at the WEF.

“In these challenging times, we must redouble our efforts to sustain employment and attract new investment and jobs into Ireland.”

Other world leaders attending include German chancellor Angela Merkel, Russian Prime Minister Vladimir Putin, British prime minister Gordon Brown and Japanese Prime Minister Taro Aso.

NGO representatives, social entrepreneurs and religious leaders have also been invited to the summit.

Mr Cowen will return to Ireland on Friday afternoon.