Malte Lohan
Malte Lohan
CEO of the American Chamber of Commerce to the EU
While the EU’s declining attractiveness for investment often takes centre stage, Ireland shines bright as an example of Europe’s potential. The country’s robust economy, openness to trade and embrace of a strong transatlantic relationship represent important lessons for the rest of the EU about staying competitive on the global stage despite today’s many geopolitical challenges.
First, Ireland bucks Europe’s trend for sluggish growth. Its gross domestic product is expected to grow far ahead of the EU as a whole, supported by a strong labour market, low headline inflation and solid public finances.(1)
Second, Ireland demonstrates that balanced trade and investment policies – including leveraging the Single Market’s free movement of goods, services, capital and people – are a strength, not a vulnerability. The trillions of euros US companies have invested in the country in recent decades speak to this advantage. At last count, 970 US firms, many of them AmCham EU members, have operations in Ireland,(2) and US businesses invested €563 billion in 2022.(3) These investments pay dividends in both countries, directly and indirectly supporting nearly 400,000 jobs in Ireland.(4) At a time when the benefits of trade are loudly called into question on both sides of the Atlantic, Ireland gives Europe confidence in trade’s ability to bring prosperity to citizens and countries alike, especially trade with like-minded partners.
Third, Ireland leans into its pivotal role in the EU-US relationship. With a common language and 31 million Americans claiming Irish ancestry,(5) it’s easy to see why Ireland has for centuries had not just a thriving economic relationship, but also a deep political and cultural affinity with the US. European and American companies, policymakers and citizens count on Ireland to continue being a bridge across the Atlantic and a foundational partner in the EU-US relationship.
As the new EU leadership strives to make Europe more competitive and a new US presidential administration advances different economic and security policies, choppy waters may lie ahead. A full 89% of AmCham EU members expect the transatlantic relationship to take a turn for the worse.(6) Against this background, Europe can learn much from the economic, trade and relationship strengths that bolster Ireland and keep the country attractive to business.
Whatever challenges 2025 might bring, AmCham EU appreciates our steadfast partnership with AmCham Ireland. Our message about a competitive Ireland, a thriving EU and a dynamic transatlantic relationship is stronger when delivered together. We look forward to many more years of collaboration across the Irish Sea, the Atlantic Ocean and everywhere in between.
