“Ireland, the EU, and Beyond: Navigating a Fractured Global Trade Landscape” 

Good morning ladies and gentlemen. I am pleased to be here with you this morning at the Business Post Global Trade Summit and to share a perspective on “Ireland, the EU: Navigating Today’s Global Trade Landscape”. 

It is my privilege, as CEO of IDA Ireland, to address you at a time when global trade and foreign direct investment are experiencing profound transformation.  

The decisions we make now will shape Ireland’s future competitiveness, prosperity, and position on the world stage. 

The context in which we operate is changing rapidly. Shifting geopolitical dynamics, technological advances, and evolving investment criteria are reshaping the landscape for international trade and FDI. 

Amidst these changes, Ireland stands out as a beacon of stability, agility, and opportunity. Our ability to adapt and thrive relies on clear vision, robust strategy, and decisive action. 

Ireland’s Competitive Position: Strengths and Government Actions 

Let me begin by outlining Ireland’s core strengths. We are recognised for our pro-business environment, skilled workforce, and commitment to regulatory certainty. Our education system continually produces talented graduates ready to drive innovation and growth. The government remains steadfast in fostering enabling conditions for enterprise, investing in infrastructure, and promoting regulatory reforms that support business and attract investment. 

Through continuous engagement with industry and the implementation of sound policies, we maintain a climate that encourages investment and rewards ambition. Ireland’s transparent legal system and stable macroeconomic framework make us a preferred destination for global investors. 

IDA Ireland and the FDI Value Proposition 

IDA Ireland plays a pivotal role in shaping our FDI strategy and securing Ireland’s reputation as a proven, trusted location for investment. Our near 80 year track record speaks for itself: we have consistently attracted world-class companies across growth sectors, from advanced manufacturing and semiconductors to life sciences, digital technologies, and international financial services. The IDA’s approach aligns our unique value proposition with the evolving needs of global investors, ensuring Ireland remains at the forefront of international competitiveness.  

Globalisation is under pressure but still lots of opportunities out there 

Since the Global Financial Crisis the pace of globalisation has been slowing and a series of shocks have coincided with a global increase in trade restrictions, a decrease in new trade agreements and the recent US tariff regime.   

Which in turn has had a knock-on effect for FDI. In particular, competition has intensified as more countries aim to capture investment to drive economic growth and position themselves for success in an ever evolving global economy.    

IDA has taken account of these changes in the global operating environment and our new Strategy ‘Adapt Intelligently’, launched last year, has been designed to align to this new reality. Our 1,800 plus clients are at the centre of our strategy which focuses on working with them to Strengthen long-term investment, Scale cutting edge innovation, Drive sustainable change, and Maximise regional opportunities.   

The changing global trade and policy landscape also bring specific opportunities given Ireland’s strong existing position in many of the sectors that have been deemed strategic by the EU.  

We are focused on ensuring we have the right ecosystem to win the next wave of investments across our identified growth drivers of AI / Digitalisation, semi-conductors, health and sustainability. 

This includes advanced manufacturing activities in Semiconductors and Life Sciences, where leading global firms are implementing complex and cutting-edge investments in Ireland that will deepen European capabilities in key strategic value chains. For example, Analog Devices’ €630m investment in Semiconductor R&D and manufacturing at its European HQ in Limerick under the EU Important Projects of Common European Interest (IPCEIs), will not only contribute to Europe’s broader microelectronics sector, but firmly places Ireland as a strategic partner in the Semiconductor supply chain.  

We are also working with stakeholders across government to ensure we have the right enabling conditions: infrastructure, regulation, cost profile, skills, RD&I capability, and incentives to ensure Ireland is the location of choice for enterprise.  

The first year of our strategy has been very successful and we recorded strong performances, driven by investment in transformative projects across large-scale RD&I, sustainability, human capital.    

Ireland Approach – control the controllables  

As we started 2026 there was a confidence that things were beginning to steady but as we see in the last few weeks with the conflict in the Middle East, it is difficult to predict future events. 

As a small country, not even a middle power in Mark Carneys terms, there is only so much we can do to influence the broad brush of global events, but there are levers within our control.  

Moving the dial on competitiveness is one of the things within our control. Our ability to compete is dependent on having the right set of enabling conditions in place.   

This idea of “controlling the controllables” is a central focus for Government, reflected in Ireland’s Action Plan on Competitiveness & Productivity.  

With 85 proposed actions, the Action Plan covers a lot of ground, but there are few that are of particular interest and importance to IDA Ireland.   

The first is the broad focus on the business environment, aligned to IDA Ireland’s own national policy priorities, centred around:   

• Infrastructure capacity requirements, including advocating for Next Generation Sites and monitoring the Accelerating Infrastructure taskforce actions,  
• Regulation and resourcing, feeding enterprise perspectives into the revised NPF and Regional Planning Guidelines, and  
• Ensuring a whole-of-enterprise approach to the development of key national sectoral strategies (i.e. Semiconductors – Government launched ‘Silicon Island, upcoming Life Sciences and Financial Services Strategies).   

The second is simplification. IDA Ireland welcomes the focus on this area at both the EU and national levels.  

In addition, Ireland is also making significant progress on the digital transformation and sustainability agenda. The government recently launched the Digital Ireland strategy, featuring 90 actionable initiatives, including robust support for AI, digital economy growth, cybersecurity, and digital regulation. The strategy is broadly supported by industry, regulators, and academia, positioning Ireland as a leading hub for applied AI and digital innovation within Europe. This policy environment is highly favourable for businesses seeking to invest in Ireland’s digital sector. 

Major infrastructure upgrades, enabled by the revised National Development Plan and supported by the Planning and Development Act 2024, aim to deliver national targets of 9 GW onshore and 5 GW offshore wind by 2030. The recent Price Review (PR6) will secure up to €18 billion for ESB and EirGrid over five years, supporting extensive deployment of heat pumps, renewables, and grid resilience enhancements.  

Strategic policy actions, such as the Large Energy User Action Plan (LEAP), the transposition of the Renewable Energy Directive (RED III), and the introduction of private wires legislation, reinforce Ireland’s drive towards a secure, low-carbon energy system, while also providing clarity for industry and unlocking investment opportunities.  

Our place in Europe   

Ireland will hold the Presidency of the European Council in H2 2026. And while preparations are well underway to ensure delivery of a successful Presidency, it will also provide a huge opportunity for Ireland to be deeply involved in shaping policies that impact us and our enterprise base.   

The importance of continued, deeper engagement with Europe is reflected in IDA Ireland’s EU Policy Priorities, which are framed across five lenses: simplification, as mentioned earlier, Open strategic autonomy, FDI conditionality, Tariffs and trade, and Industrial policy and state aid.   

• On simplification, Ireland is advocating for a smarter, simpler, more streamlined EU regulatory framework that supports European competitiveness and is reflecting the EU’s simplification agenda at home. Simplification is about better regulation, not deregulation. Ireland has argued for a focus on reducing the regulatory burden, while maintaining high ambition in terms of environmental protection, human health, and other standards. The regulatory certainty offered by Ireland and Europe can be a key strength for the continent as a place to innovate and do business.   
• Increasing open strategic autonomy is central to Europe’s approach to the current global environment. At a moment when a pathway to a more competitive, green, and digital European economy is in sight, it is vital that measures to safeguard the EU’s economic security strike a balance that promotes European economic resilience but does so in a way that does not see a new form of protectionism damage Europe’s future competitiveness. Any new measures that would reduce Europe’s openness to economic opportunity from third countries in pursuit of greater economic security should be clearly and narrowly defined, and subject to an impact assessment that considers the wider impact on the global competitiveness and productivity of the EU economy.  
• The challenge of striking this balance is clear when it comes to emerging proposals on FDI conditionality, such as those found in the recently adopted Industrial Accelerator Act, or the increased emphasis on European preference, but it is important to recognise that openness to third countries will be key to accelerating innovation and technology adoption across European enterprise. Multinational companies have made substantial investments in the EU that have created millions of jobs, local linkages, and European-based expertise in key strategic areas, so it will be vital that any FDI conditionality or European preference includes all European-based enterprises, regardless of origin. 
• On tariffs and trade, it is in this space that the uncertainty and volatility of the current environment is most starkly seen. IDA continues to partner with our clients as they navigate these changes and our priority is ensuring that Ireland, and IDA, remain aware of and involved in the development of European trade measures, and countermeasures, to reflect the position of Irish enterprise.  
• The evolving industrial policy and state aid landscape provides increased opportunity to support companies on strategic priorities while protecting the level playing field. In this space, a key priority for IDA is closing the current gap on digitalisation supports. Current restrictions risk leaving Member States unable to support a large swathe of enterprises across Europe at a time where digital transformation is a competitive imperative. One such mechanism to overcome this is the IPCEI. I mentioned earlier Analog Devices’ investment under IPCEI. The EU has now launched three further calls - one in advanced semiconductor technologies, one in artificial intelligence software, and one to build out edge and cloud infrastructure capacity. These calls will combine to develop the EU based elements of the value chains for semiconductors and AI, and will provide an open compute resource for edge and near edge going forward. 

Delivery on these priorities, at both national and European level, will ensure that Ireland provides an environment for enterprise to continue to grow and expand despite changing global conditions.  

In this new era of global trade, companies are making investment decisions based on fundamental requirements related to capacity, stability, capability and cost. Ireland is already in a strong position to compete in this new landscape, and Government has taken comprehensive action on ensuring we have the enabling conditions required to do so.   

Both IDA’s existing client base and Ireland’s FDI value proposition are well-aligned to future growth sectors and Ireland has a strong track record of delivery and success for Multinational companies.    

This is a transformational time for FDI and global trade, and Ireland must adapt to the changing environment, as we have always done throughout our history, to capitalise on the next generation of investment.  

Conclusion: Ireland’s Readiness and Continued Growth 

In conclusion, Ireland’s readiness is rooted in adaptability, resilience, and a shared commitment to excellence. International companies need access to international markets and international talent to grow their business, and Ireland provides the perfect location to access the EU market and the rest of the world.  

We are confident in our ability to navigate the evolving global trade and FDI landscape, but as I said previously, we need to control what we can control. We now need to move quickly from policy commitments to execution and delivery of key enabling infrastructure projects in the areas of housing, energy & water services, all supported by progressive changes in our planning processes. Delivery of these projects will not only encourage enterprise growth but will benefit Irish society as a whole.  

Thank you for listening.