Mr Ahern said Ireland’s recently developed enterprise culture was now spreading success abroad with major investments in the American market.

Ahead of his annual St Patrick’s Day visit to Washington DC, Mr Ahern used a ceremony to mark the 20th anniversary of Dublin’s twinning with Silicon Valley hi-tech centre San Jose to push for closer trade links and stress Ireland now has a global business agenda.

“It should be noted that for the first time ever there is more investment carried outside Ireland by Irish companies than by foreign companies in Ireland.

“The main thrust of Ireland’s economic, industrial and export growth comes from indigenous Irish enterprise. The emergence of an enterprise culture in Ireland demonstrates that one of the most significant spin-off benefits of overseas investment is its role in stimulating Irish entrepreneurs at home. And these entrepreneurs have global ambitions,” he said.