Above: Lucy C. Cronin, Amazon VP for EU Public Policy; Claire D. Cronin, United States Ambassador to Ireland; Neil Morris, AWS Country Lead Ireland.
Last week, I had the honour of representing Amazon at the U.S. Ambassador to Ireland’s Independence Day celebrations - an important annual reminder of the shared bonds between Ireland and the U.S., rooted in centuries of people moving across the Atlantic, and now strengthened by economic links. American companies with substantial operations in Ireland, including Amazon, are some of the strongest links in this chain.
Ireland and the U.S. continue to be key drivers of European growth. As The American Chamber of Commerce Ireland revealed last week, 970 U.S. companies have operations in Ireland, directly employing 210,000 people. In 2022, U.S. companies invested a total of €41bn in the Irish economy, across payroll, goods and services, and capital expenditure. Despite its relative size, Ireland remains the ninth largest source of foreign direct investment to the U.S., with 500 Irish companies employing almost 100,000 people across all 50 states.
The continued commitment of both sides to transatlantic cooperation remains critical in a shifting geopolitical, technological, and global trade landscape; bringing together two democratic continents that, when working in tandem, can achieve a lot - both for our respective countries, but also for the international community.
Growing and deepening the Single Market
There are important mutual opportunities in this cooperation, and its role in the success of the EU Single Market – which Ireland has always championed - is one of them. A recent report by former Italian Prime Minister Enrico Letta examined the future of the Single Market and underlined that the EU should improve economic relations with the U.S., “with the long-term goal of reigniting discussions on the foundational concepts for developing a Transatlantic Single Market.”
We would welcome closer links between EU and U.S. markets through the mutual reduction of market barriers. As Dr Letta outlined in his report, “promoting deeper trade and investment ties, regulatory alignment, and mutual recognition of standards, a Transatlantic Single Market could significantly bolster the relationship between two of the world's largest economies. The potential benefits in terms of economic growth, job creation, and global influence make it a compelling objective, aligning with the broader goals of the Single Market to support open, fair, and prosperous economic spaces.”
Amazon is firmly committed to Europe and European customers. This year, we have announced significant investments across logistics, cloud infrastructure, and R&D, creating thousands of new jobs. We will be launching a new dedicated online store in Ireland, Amazon.ie, in 2025; and Amazon Web Services (AWS) has announced a strategic collaboration with Bord na Móna, which includes investment in up to 800MW of new renewable energy projects in Ireland. Elsewhere in Europe, AWS plans to invest €15.7 billion in Spain over the next decade, and in Germany we’ve announced planned investments of €10 billion to drive innovation and support the expansion of our logistics network and cloud infrastructure.
Developing transatlantic networks for mutual growth
In the near term there is much that can be achieved in strengthening transatlantic cooperation. Established in June 2021, the EU-U.S. Trade and Technology Council (TTC) is a transatlantic forum fostering cooperation on trade and technology-related issues, based on shared democratic values. There is an opportunity with the new European Commission coming onboard this year to use the TTC to greater effect, and Ireland should lead the way in highlighting this opportunity. Cooperation and leadership in digital innovation, as well as regulation, are key areas which could benefit several sectors.
At Amazon, we use our innovations to empower the European economy. We support a mandate to reindustrialise Europe through a supportive and risk-based regulatory environment for the adoption of future-oriented technologies like AI, satellite-based connectivity, and the cloud. Across the Atlantic, it is crucial to find common ground on innovation-friendly policy issues. By working together, the U.S. and Ireland, along with the wider European community, can strengthen their collective resilience and deliver shared prosperity to their citizens.
