Further reflections on the State Visit by President Higgins, April 2014
23 April 2014
One of the many memorable moments during President Higgins’ recent State Visit was certainly the Banquet at the Guildhall hosted by the Lord Mayor of the City of London, Alderman Fiona Woolf. It was an evening of pomp and splendour in a historic setting at the heart of London's financial centre. In all, some 700 guests were in attendance.
The City of London combines 1,000 years of tradition - epitomised by the elaborate costumes of the City’s Aldermen and the trumpet fanfares that sounded several times throughout the evening - with its supervisory and promotional role with regard to London’s status as a leading centre of global finance.
The President's visit to the City of London should not be seen simply as an elaborate show of hospitality on the part of his hosts, generous and impressive though this was. It was first and foremost an opportunity to highlight and celebrate the formidable economic ties that bind our two countries. These ties have come into sharper focus in recent times and there is now a greater awareness than ever before of our economic interdependence which involves significant advantage for both countries.
In his Banquet speech, President Higgins reminded us of the €1 billion in trade that flows back and forth across the Irish Sea each week and that two out of every five visitors to Ireland each year come to us from Britain. He also recalled the advances in cooperation that have taken place in recent years, an example of which was our British-Irish joint trade mission to Singapore in February. Such a venture would have been inconceivable even a short number of years ago, but is now seen as a practical manifestation of an evolving economic partnership between our two neighbouring islands.
Since arriving in London last autumn, I have discovered more and more about the strength and depth of our economic connection. Britain is not just our most important trading partner. It is an especially vital market for Irish-owned firms that are supported by our colleagues in the London office of Enterprise Ireland. The Embassy was delighted during the State Visit to host a function in support of a number of Irish high potential start-up companies who are looking to establish themselves in the UK market. Because of geographical proximity and the similarity of our legal systems and business cultures, the UK is a natural target market for emerging Irish companies looking for opportunities outside of Ireland. It is one of our Embassy's major priorities to do all in our power to support Irish exporters, thus contributing to economic recovery and job creation at home.
Britain is also a vital market for Irish exports of food and drink, accounting for 42% our total exports from that sector last year, worth €4 billion to the Irish economy. I was delighted that our food board, Bord Bia, was able to organise a visit to a research farm in Oxfordshire, to highlight Ireland's status as a sustainable producer of high-quality food. Bord Bia's innovative Origin Green programme has made Ireland a world leader in food sustainability.
Another major highlight of the State Visit was the great Ceiliúradh concert at the Royal Albert Hall, which was supported by Tourism Ireland. This concert of music, song, dance and the spoken word captured the unique spirit of Ireland, which is one of the prime reasons why so many people enjoy visiting our country. Last year, almost 3 million British people came to Ireland and we look forward to rising numbers of visitors in the coming years.
One notable feature of Ireland’s relations with the UK is that both economies derive great benefit from them. This is best illustrated by a recent report from HSBC bank showing that Ireland is currently the 4th most important market for UK manufactures, an extraordinary fact considering Ireland's relatively small population. Even more remarkable is the bank’s prediction that in the year 2030 only the US and Germany will be more important export markets for Britain than Ireland.
As both our economies recover from recent difficulties, our already impressive ties in trade, investment and tourism are likely to deepen further. That will be a good thing for our economy and for both our countries. The Embassy will support and encourage these positive developments in every way we can.
During his speech, President Higgins quoted Seamus Heaney's comment that Ireland is 'not simply a credit rating or an economy, but a history and a culture.' As if to exemplify that point, Lord Mayor Fiona Woolf announced at the Banquet that the City of London would fund a 10-year scholarship worth £25,000 a year for the study of Anglo-Irish literature.
Dan Mulhall, Ambassador