The 2006 Comprehensive Study on the All-Island economy identified the need to build on our competitive strengths, particularly in the areas of infrastructure and R&D. The recently published Innovation Task Force report was also clear on the benefits to be gained — not least to border regions — from jointly branding and promoting our "Innovation Island". An important initiative in this context is the US-Ireland R&D Partnership, an outcome of the US-Ireland Business Summit in Washington D.C. which was launched in July 2006. Its aim is to promote collaborative innovative research projects which create value above and beyond individual efforts. The Partnership represents a new model for international research cooperation and, to date, a total of seven awards have been made amounting to a total of $19m from a combination of sources in the US, Northern Ireland and Ireland.
I will travel to Washington to attend the Northern Ireland Economic Conference on October 19th which is being hosted by the US Secretary of State Hillary Clinton. While there, I will take the opportunity to stress the potential of all-Ireland, cross border economic cooperation and the investment opportunities in the border region. To coincide with the Economic Conference, I will co-host an event with the First Minister, Deputy First Minister and the US Special Envoy to Northern Ireland, Declan Kelly, to promote the work of the US-IrelandR&D Partnership. I anticipate that a number of key announcements will be made at that Washington event, including the expansion of the Partnership's relationship with the National Science Foundation in the US.
