British economy minister Mr John McFall has announced a £2 million sterling (€3.04 million) package, using money provided by the European Peace and Reconciliation Fund, to promote e-commerce initiatives in Northern Ireland.

Mr McFall said that e-commerce offered companies fast and relatively low-cost access to a vast international market, using nothing more complex than a computer keyboard.

"The technology puts small companies, which form the backbone of the local economy, on a par with much larger industry leaders," he said. "To achieve a fast-growing, competitive and knowledge-based economy with plenty of opportunities, it is vital that we take full advantage of the benefits offered by e-commerce."

Mr McFall was speaking at the first meeting of the newly-formed Information Age initiative, which was recommended in the British government's Strategy 2010 document. The initiative involves the formation of a body, led by Professor Fabian Monds of the University of Ulster, which it is hoped will evolve into a commission to report to, and advise, the Northern Ireland Assembly on e-commerce and communications via the Internet.