During his first visit to America as Taoiseach, Brian Cowen yesterday announced that Irish companies had just sewn up $18 million (£9m) worth of contracts with US firms.

While he doggedly accentuated the positive during an appearance at the New York Stock Exchange, a breakfast speech to Wall Street executives and a meeting with New York Mayor Michael Bloomberg, the Taoiseach also took time to warn economic doomsayers from creating a “self-fulfilling prophecy” by only focusing on Ireland's current slowdown.

Mr Cowen began the second day of his three-day Big Apple visit by ringing the opening bell at the Stock Exchange. Afterwards, he spoke at an Enterprise Ireland business breakfast on Wall Street.

He used part of his address to stress that, while Ireland has benefited from US investment, today's investment has become a “two-way flow”.

“Irish companies today employ over 80,000 people across all 50 states in the US. This number has increased 10-fold in the last 10 years,” he said.

Yesterday afternoon Cowen also toured the World Trade Tribute Center, dedicated to the victims of the 9/11 attacks.

Later, during evening remarks to a reception at the Irish Consulate General's residence, he paid praised May's US-Northern Ireland Investment Conference in Belfast.

“The US has always stood with Ireland as we traveled the long road to peace, and I knew too that you would be a valuable ally and friend to Northern Ireland as it prepares for a future of prosperity,” said Cowen “I am here too to solicit your ongoing support for Ireland, North and South, in the years ahead.”

Today the Taoiseach will meet the Wall Street Journal's editorial board. After that, he'll attend several more business and Irish cultural events. He is scheduled to fly back to Ireland via a government jet on Friday.