The Taoiseach has told the Global Economic Forum at Farmleigh that Ireland stands on the brink of three ‘immense and immediate challenges’.
Visit RTÉ's dedicated Forum website
Read Mark Little's blog from the Forum
Watch / Read Taoiseach Brian Cowen's address
Brian Cowen told delegates that ‘defining choices’ would soon be made in relation to the Lisbon Treaty, the National Asset Management Agency and the Budget.
Mr Cowen said he believed the Treaty should be passed in order to protect jobs, exports and foreign direct investment.
Speaking on RTÉ’s Drivetime, Mr Cowen said Ireland must be in a position to take advantage of the global upturn when it gains momentum.
Musician and campaigner Bob Geldof said the first day of the Forum contained brutal exchanges and good ideas.
The Minister for Foreign Affairs, Micheál Martin said good and valid ideas were now on the table to help Ireland in the future.
The forum has been organised by the Government, which says the event will examine how the Irish at home and abroad can work together to generate ideas which will contribute to Ireland's economic recovery.
Earlier, the Taoiseach said the enormous goodwill towards Ireland and its achievements have left a cultural and commercial footprint of which Ireland should be proud.
Mr Cowen said developing ideas to form part of how Ireland will develop into the future is what the two-day forum is about.
He said Ireland can either view itself as being a small country on the periphery of western Europe or being at the centre of a global Irish community of over 70m people.
He said today is the first time a group of prominent, influential and talented people - who can give insights on how Ireland can best meet the challenges that confront the country - has come together.
Mr Cowen said it is important to develop the relationship that begins today on an ongoing basis.
He said harnessing goodwill to the benefit of the country is important.
EU Commissioner Charlie McCreevy said the international perception was that Ireland's economic problems were worse than they are.
A message from Nobel Laureate Seamus Heaney welcomes delegates to the event in which he quotes a line from his 'Keeping Going' poem.
'You keep old roads open by driving on the new ones'.
Invited attendees are travelling at their own expense and participating for free.
They include representatives from the US, Britain, Australia, China, Europe and the Middle East.
Among those attending will be retired CEO and Chairman of Intel Craig Barrett, CEO of the airline Qantas Alan Joyce and Chief Executive of HSBC North America Brendan McDonagh.
The forum continues tomorrow.
