An Irish-American entrepreneur is being credited with encouraging more than 50 senior US executives to join a networking organisation dedicated to promoting the economy of Belfast.

Mr John Cullinane, who was recently appointed as an economic envoy for Belfast in the United States, said that there was "a great deal of untapped goodwill and energy" for Belfast which the newly-formed Friends of Belfast support group could help to exploit.

The aim of the network is to help local politicians and business people to set up trading links in the United States.

He said that the group had achieved its first objective - that of recruiting more than 50 members, all of whom, he said, were important and influential people.

He said that there was every reason to expect that the group would continue to increase in number to as many as 300 in the coming year.

Its membership includes senior executives from merchant banking firms such as Lehman Brothers, and leading figures from American universities like Harvard and the Massachusetts Institute of Technology.