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He described the motorway as "important new link in Ireland's road network".
The major project - part of the overall upgrade of the Galway to Dublin route - was delivered five weeks ahead of time and below budget.
"The opening of this new section of the link between these two fine towns will bring significant economic, social and environmental benefits," said the Taoiseach.
"The new route will also improve the environment for people living adjacent to the existing N6. And the new Monksland junction arrangement will enable the local community to go about their business with greater ease, without mixing with the National route traffic," he said.
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Mr Cowen said his Government has devoted "considerable resources" in recent years to improving the major interurban motorway and dual carriageway network.
"The scale of this national programme is very evident when we look at the amount of road building currently underway or completed in this region. The N6 Galway to Ballinasloe is due for completion in 2010, giving us a full motorway standard route virtually all the way from Galway to Dublin," he said.
"Work on the N18 is well advanced and when completed, will provide a high quality and high capacity dual carriageway connecting Limerick and Galway. And the N6 Loughrea Bypass and the N85 Western Relief Road have been completed."
Mr Cowen said "very significant investment" has been taking place in Ireland's road, rail, bus, tram, metro and regional airports under Transport 21.
"Capital investment in infrastructure will continue, and innovative methods of accessing capital funds, including the possible involvement of the pensions industry, are being examined.
"Where appropriate, projects may be undertaken as public-private partnerships, as with the Limerick Southern Ring Road and the N6 Galway to Ballinasloe scheme. However, given the constraints on the Exchequer, individual projects will only be able to proceed as and when funding is available to support them," he added.
(PR/JM)
