President Michael D Higgins has said Ireland’s economic growth is export related rather "than being the consequence of any austerity programme imposed on us by the Troika".

In a speech for business leaders in Australia, held at the Melbourne Cricket Ground, the President said Ireland's export performance continues to be responsible for its sustained economic growth.

Mr Higgins highlighted the importance of expanding and deepening international trading relationships, in the context of Britain's decision to leave the EU.

He said Ireland's energy and determination mirrors Australia's in many ways and said both countries' strengths align and are mutually reinforcing.

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