Business in Republic key to prosperity in North, says Paisley

Major businesses in the Republic will play a significant role in Northern Ireland's economic regeneration, Northern Ireland's…

Major businesses in the Republic will play a significant role in Northern Ireland's economic regeneration, Northern Ireland's First Minister Ian Paisley last night told Dublin business leaders.

Speaking at the Dublin Chamber of Commerce annual dinner, Dr Paisley said that economic growth was vital in Northern Ireland "if a peaceful, fair society" was to be created to replace the divisions of the past.

In a warm and very well received speech, Dr Paisley, who was accompanied by Taoiseach Bertie Ahern, repeatedly emphasised the need for closer economic ties between both sides of the Border.

"We can be of help to you, and you can be of help to us. Haven't the times change? No snowballs, no protests, but a warm and genuine welcome,"said Dr Paisley, who had travelled to Dublin after the North-South Ministerial Council meeting , which took place in Dundalk.

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"We can't change history, but we can all work to change the history of the future. Let us all work to write a history that we will never want to see changed," Dr Paisley told hundreds of chamber members. Northern Ireland, Dr Paisley added, had once been the world leader in shipbuilding, textiles and other industries.

"Northern Ireland has the potential to join you as world leader once again," he declared.

Paying a full tribute to Dr Paisley, Mr Ahern said that it had been "an honour" to work alongside him "to drive this island on to be a great island".

He added that they would both continue with this work "for as long as we can".

Describing Dr Paisley as "a great friend", Mr Ahern added: "Change is never easy and fundamental, massive change in leading a community, a society, is never easy, particularly.

"It has been an enormous pleasure for me to work on this issue with him. For as long as we can, we will drive this island on to be a great island," Mr Ahern added.

The Republic and Northern Ireland cannot compete as a low-cost business location but must instead concentrate on knowledge-based businesses, he said.

"In simple terms, we have to be smarter, quicker and more adaptable than our competitors."

The Republic can "remain confident" about future economic prospects, despite "the current volatility" in the international financial markets and "the expected downturn" in housing.

The Republic's economy should grow by 2.5 per cent this year, Mr Ahern said, and return to 4 per cent growth rates thereafter, offering "a solid bedrock" for coming years, he told the dinner.

The Government "will - and must - take prudent decisions with a firm eye on the long term", said Mr Ahern, who also pointed out that seven million people could be living on the island by 2020.

Urging the business community to support a Yes vote in the upcoming Lisbon Treaty referendum, Mr Ahern told business leaders that it must be passed because it is good for Irish jobs and business.

The newly-elected chairwoman of the Dublin Chamber of Commerce, Margaret Sweeney, who is also now the chairwoman of Postbank, called for quicker and clearer actions by both the Government and State agencies.

Dublin, she said, is "lacking a clear decision-making process that moves forward with agility that will help to make the city the leading knowledge city in Europe, despite ever increasing competition".

Mark Hennessy

Mark Hennessy

Mark Hennessy is Ireland and Britain Editor with The Irish Times