NI has a unique role in fostering economic cooperation and innovation - FSB NI head

​The eighth annual ‘UK – U.S. SME Dialogue’ is poised to commence next week in Belfast. This significant event, which brings together small and medium-sized enterprises (SMEs) from both sides of the Atlantic along with government officials, underscores the pivotal role that SMEs play in driving economic growth and fostering enduring partnerships between the United States and the United Kingdom, with Northern Ireland at the forefront of enhancing transatlantic relationships given our own unique ‘special relationship’.
By Roger Pollen
Published 12th Apr 2024, 09:17 BST
Updated 12th Apr 2024, 10:04 BST
Roger Pollen, (left) Head of FSB NI pictured recently with Joe Kennedy III, US Special Envoy to NI for Economic Affairs; and Tina McKenzie, FSB UK Policy and Advocacy ChairRoger Pollen, (left) Head of FSB NI pictured recently with Joe Kennedy III, US Special Envoy to NI for Economic Affairs; and Tina McKenzie, FSB UK Policy and Advocacy Chair
Roger Pollen, (left) Head of FSB NI pictured recently with Joe Kennedy III, US Special Envoy to NI for Economic Affairs; and Tina McKenzie, FSB UK Policy and Advocacy Chair

​Belfast has the second-oldest continuously operating U.S. Consulate General in the world which was established by the first American President, George Washington, two hundred and thirty years ago. A quarter of U.S Presidents can trace their roots to ancestors from Ulster, who played an important role in shaping the United States we know today.

During the Second World War, 300,000 US personnel came to Northern Ireland and their presence was felt from Belfast to Derry/Londonderry.

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The US Navy established itself in Derry/Londonderry which became a main base for convoy escort vessels. A further testament to the continuing ‘special relationship’ was the role of the United States as an honest broker from the start of the peace process.

innovation

Northern Ireland has long been a wellspring of innovation, birthing some of the world's most groundbreaking inventions and nurturing talents that have left an indelible mark on global industries. The city of Derry/Londonderry boasts a rich heritage and is home to distinguished figures whose contributions have resonated far beyond its borders.

This annual exchange serves as a cornerstone for exploring avenues to deepen trade relationships and bolster cooperation on issues vital to SMEs.

At a macroeconomic level, trade between the U.S. and UK amounts to a staggering $247 billion annually, highlighting the profound interconnectedness of these two economic powerhouses. The investments between the nations exceed $1 trillion, a testament to the enduring economic partnership.

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Northern Ireland occupies a special place within the U.S.-UK 'special relationship'. We have a unique role in fostering economic cooperation and nurturing innovation that transcends borders, especially given our unique positioning in having access to both the UK Internal Market and the EU`s Single Market.

Northern Ireland's track record of ingenuity is illustrious, with numerous inventions originating from these shores.

Ejection

James Martin from rural Crossgar in County Down designed the ejection seat which has saved over 7,600 lives world-wide and is still in operation today.

The portable defibrillator was invented by Frank Pantridge, a cardiac consultant at the Royal Victoria Hospital, who saw the need to treat cardiac patients urgently.

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These devices have saved countless lives worldwide. Business underpinning the special relationship between our countries and our people.

In addition, Derry-Londonderry has been a cradle for exceptional talent, producing iconic personalities including musician Phil Coulter, who have commanded international acclaim.

The ‘UK – U.S. SME Dialogue’ is more than just a gathering; it represents an opportunity to forge enduring partnerships that drive economic progress and innovation.

Against a backdrop of Brexit's shifting trade dynamics, this dialogue underscores the importance of nurturing SMEs, which serve as the lifeblood of local economies.

connections

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For Northern Ireland and its burgeoning SME sector, these connections are vital for unlocking new opportunities and expanding market reach.

Events like the 'UK – U.S. SME Dialogue' are instrumental in facilitating meaningful exchanges that pave the way for future collaboration.

They provide a platform for SMEs to explore new markets, exchange ideas, and navigate the intricacies of international trade.

As the global economy navigates challenges and transitions, the importance of fostering robust economic partnerships cannot be overstated.

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The forthcoming dialogue is a testament to the enduring spirit of innovation and collaboration that defines Northern Ireland.

It signifies a commitment to nurturing the next generation of entrepreneurs and innovators who will shape the economic landscape for years to come.

In the spirit of this historic gathering, the eyes of the global business community turn to Northern Ireland, where the convergence of heritage, innovation, and opportunity promises to redefine the future of transatlantic commerce.

The eighth annual ‘UK – U.S. SME Dialogue’ stands as a testament to the power of partnership and the boundless potential of SMEs to drive economic prosperity and global connectivity.

Roger Pollen is Head of FSB NI.

Related topics:BelfastSMEs