Knoledge And Innovation Are Twin Engines of Growth

The creation of an all-island approach to the economy is an important part of creating a fully functioning internal market Charlie McCreevy said today during his first visit to Northern Ireland as EU Commissioner. Speaking in Newry, as a guest of InterTradeIreland on ‘The Island Economy in a European Context’, to over 100 business people, senior policy makers and elected representatives from both sides of the border, the Commissioner cited knowledge and innovation as the twin engines of sustainable growth. Mr McCreevy said: “The island of Ireland and Europe face the same challenge – remaining competitive and attractive in a globalised world. This is a task both for Governments and for business. “We must examine our strengths and weaknesses carefully and honestly and make the right policy choices now if we are to enjoy prosperity into the future. Knowledge and innovation are the twin engines of sustainable growth. Only our capacity for creativity will give us the edge. That means investing in education, research, skills. It means creating the type of culture that takes good ideas and turns them into jobs. “The creation of an all-island approach to the economy is a sub-set of creating a fully functioning internal market. Every step-up in scale, every advance towards openness, every barrier removed, creates opportunity and grows potential. “I know that the two Governments are undertaking a comprehensive study aimed at identifying those areas in which cooperation will deliver greatest benefits. I greatly look forward to seeing its results. The Commissioner said that he strongly supported the efforts of the Governments and the political parties to restore the Northern Ireland Executive and to ensure the proper functioning of the institutions created under the Good Friday Agreement. “As a democrat, I think that it is best if policy is taken forward by the representatives nearest the people and through institutions most suited to meeting their needs. “There can be no doubt that InterTrade Ireland, under its wise leadership, has been doing great work. But the context has not been ideal and I have little doubt that its contribution would be enormously strengthened by the direct involvement of local Ministers in a restored North/South Ministerial Conference.” InterTradeIreland Chief Executive Liam Nellis said: “Working together is an economic not a political imperative. So many industry sectors now operate on an all island basis – Energy, Telecoms, Retailing and indeed Manufacturing. I believe that InterTradeIreland is at the leading edge in the provision of sound research and programmes that actively promote and support knowledge and innovation as economic drivers throughout the island of Ireland. “Shortly we will be launching research on our how our Universities can collectively market their Intellectual Property and technology transfer. We will be providing research and recommendations on the development of critical business networks throughout the island and on how we can deliver on a co-ordinated Spatial Strategy. “We must take a good hard look at ourselves and make the right decisions now if our economy is to grow and prosper. We must have the flexibility to adapt. We must support entrepreneurs, managers and workers. We must create an environment that fosters and celebrates creativity. We must be competitive to survive. That is what InterTradeIreland is striving to achieve across the island of Ireland.”