The government is planning to establish a working global network of Irish people, it was revealed yesterday.

Minster for Foreign Affairs Micheál Martin made the announcement at the Global Irish Economic Forum at Farmleigh in Dublin.

The network will consist of some of the most powerful and influential Irish figures across the world.

Speaking at a state dinner to mark the conclusion of the forum yesterday evening, Tánaiste and Minister for Trade, Enterprise and Employment Mary Coughlan said the creation of the new diaspora was "long overdue".

"Though the concept of an Irish diaspora has existed for as long as there has been Irish emigration, it has predominately found expression as a cultural and political idea.

"The crucial political role of the Irish diaspora was realised to great effect in recent times with the tireless work of men like the late and irreplaceable Ted Kennedy, who worked for decades to help secure a peaceful political solution to the seemingly intractable problems in Northern Ireland," she said.

She also expressed her confidence for Ireland's economic recovery saying: "We know how to create sustainable economic wealth, we have done so once before, and we have the tools and the know-how to continue doing so."

The economic forum was organised by the government in an effort to generate ideas to stimulate the country's economic recovery.