EU the magnet drawing investors to Ireland

IRELAND’S economy has prospered as a member of the EU.

Foreign direct investment in 1973 was only €16 million. There are now 136,000 jobs in IDA companies in Ireland and these generated €3 billion in tax receipts for the exchequer last year.

Our exports to the other 26 EU states were worth more than €56.5bn in 2006. In 1998, they were worth €39bn.

It makes economic sense that we stay as a strong and committed member of the EU. This sends out the right message to companies seeking to access the European market that a positive investment climate exists in Ireland. Our commitment to Europe is part of our attraction as an investment location.

On a separate matter, the EU can only take decisions on foreign affairs issues with the unanimous support of all member states.

However, the EU is playing a pivotal role in the international arena. It is the largest donor of development aid in the world, contributing €46bn last year.

The EU is thus playing the key role globally in ensuring that the millennium development goals will be reached by 2015.

These are targets which will ensure improvements in primary education, health services, the provision of safer drinking water, better sanitary facilities and an increased effort to combat HIV/ Aids in developing countries.

The EU is playing a leadership role in implementing and financing development aid policies and it must continue to do so into the future.

Brian Crowley MEP

President

UEN Political Group

European Parliament

Strasbourg