I officiated at the launch of the "Statement of Irish Government Policy: e-Business in Ireland for the International Financial Services Industry" document on Tuesday, 12 September with Michael d'Souza of Merrill Lynch, who chaired the e-commerce sub-group of the IFSC clearing house group, and Sean Dorgan of IDA Ireland, which is distributing the booklet through its overseas offices. The booklet has been laid before the Dáil and the Seanad. My Department distributed 3,000 copies of the document. There has been a very high level of demand for the booklet and a further print run is likely.
It will be used by IDA Ireland in promoting the benefits of Ireland as a location in the emerging electronic environment. It is also being used by leading figures in the financial industry in promoting Ireland within their institutions. There has been very positive feedback in this regard from the industry.
The e-commerce sub-group consisted of industry representatives and members of relevant Departments and agencies. The e-commerce working group has now reported back to the clearing house group on issues to be addressed in developing the IFSC further in the light of technological change.
The main findings of the working group were that the key determinants for the expansion of e-business within financial services here are similar to the generic needs identified by other bodies, such as the Information Society Commission.
Needless to say, the Government will continue to focus its efforts on developing Ireland as a centre for international financial services. E-commerce will form a vital part of the Government's approach to that.