Irish Enterprise Minister, Batt O'Keeffe has stressed the importance of innovation in Ireland's economic recovery during the launch of the OECD's Strategy for Innovation in Paris.

Minister O'Keeffe was invited to address delegates at the launch by the OECD Director General, Angel Gurría.

The strategy is the OECD's proposed policy framework that will help countries to recover sustainably from the global economic crisis by driving innovation-led programmes.

Minister O’Keeffe said many of the challenges identified in the OECD strategy were similar to those the Irish Government is now tackling.

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Minister O'Keeffe said: "The OECD's invitation to our Government to address the launch is a strong message that the organisation believes we are on the right path when it comes to developing Ireland as the innovation island.

"Our approach to innovation is based on the need to enhance our research base, drive in-company research and development investment levels, build collaborative research between industry and higher education institutions, and commercialise research outputs.

"The establishment of a strong research culture in Ireland is a vital driver of major investment decisions by overseas and indigenous firms and it continues to lead to industrial and academic research partnerships."

He continued: "Despite the recession, Ireland won 125 foreign investments last year and half of those were in research, development and innovation.

"We must continue to transform our enterprise and investment landscape to stay competitive."

(NS/BMcC)