I am very pleased to meet with you today as the head of this Irish Government trade mission comprising 114 leading Irish organisations. It is tangible evidence of the enthusiasm of Irish companies for increased links between Ireland and the United Arab Emirates.
A wide range of Irish industry is represented on this mission. International services, industrial products, food and consumer goods, educational services, as well as business associations and Chambers of Commerce.
World-class products manufactured in Ireland and exported to international markets include telecommunications, engineering and electronics products, industrial components, pharmaceuticals and healthcare, agribusiness, premium food and drinks products, consumer merchandise and internationally traded services, such as consultancy and educational services.
Many of the companies on this mission are already establishing solid market positions here. They have identified significant potential for new and mutually beneficial relationships. All of these organisations are here to further develop the dynamic trade partnership between our countries.
This is an all-Ireland trade mission and includes representatives from over 20 companies from Northern Ireland. Their presence reflects a pattern of increased co-operation among Irish companies in the Republic of Ireland and Northern Ireland.
The Irish and United Arab Emirates economies share many features. Like Ireland, the Emirates is a progressive and stable economy. It provides a strong pro-business and pro-enterprise environment for building long-term business relationships in the Gulf.
While Enterprise Ireland, the Irish Government’s trade and technology board, set up office in Dubai four years ago, it has been in the region for over 20 years. Enterprise Ireland’s presence in Dubai demonstrates the commitment of the Irish Government to working with companies from Ireland and the Unitied Arab Emirates and Government institutions to create business opportunities.
Ireland has always regarded its business relationship with the United Arab Emirates as being of the highest priority. Since 2000, we have regularly brought trade delegations to both Dubai and Abu Dhabi. As a result, Irish exports to the Emirates continue to go from strength to strength, increasing by an annual average of 20% in recent years.
Last year was one of the best ever for Irish companies in the Emirates, with preliminary results suggesting a growth in sales of over 45% in the region. This is an excellent achievement and points to the strong potential for further growth in the future.
And I am pleased to note that Irish trade links with the Emirates are expanding into a wide range of new areas. Some examples include:
· the current joint project between Valentia Technologies and RCSI and the Dublin Fire Brigade to assist the Dubai Ambulance Services in developing best practice;
· the initiative of International Computer Driving Licence, in setting up an office in Dubai, and in having the Licence made mandatory for all Dubai Government employees; and
· the success of a number of Irish telecoms software companies in having their solutions implemented by the new mobile operator in Dubai.
Another strong Irish/Dubai connection is the bloodstock investments and stud ownership of the Maktoum family in Ireland. In addition, many of the 700 plus Arab students who study in Ireland every year are from the Emirates. Many are completing their final years schooling and attending the Royal College of Surgeons in Ireland.
I am pleased to note that these connections are strengthening. The launch of an Emirates Ireland Business Network and the Abu Dhabi Business Forum, in conjunction with Enterprise Ireland, have provided valuable support for Irish companies coming into the Emirates. They also provide useful networking opportunities for those companies already based here.
The recent introduction of direct flights from Dublin to Dubai has opened up the wider Gulf region to Ireland. It has also had the added bonus of facilitating Ireland as an attractive tourist and business destination for people from the Emirates.
The number of visit visas issued by the Visa Facilitation Office based in Enterprise Ireland’s Dubai office will be three times the original estimate. This has been helped no doubt by the robust marketing of Ireland by Tourism Ireland, our North/South Tourism agency.
An increasing number of Irish companies have opened offices in Dubai, using it as a hub to develop regional business. The openness of the Dubai authorities to foreign direct investment has made it a logical choice for companies needing a base for expanding regional sales. Irish companies have opened a total of 16 offices and there will be a number of additional announcements this week.
Enterprise Ireland is here to work with both Irish and local companies to create new trade opportunities and new partnerships. International partnership is a key strategic objective. Irish companies are becoming increasingly involved in strategic alliances, joint ventures, sourcing relationships, product/process licensing and in collaborative research and development with international partners. I would like to thank Enterprise Ireland for their work and congratulate them on their organisation of this trade mission.
The extraordinary economic growth rates achieved by Ireland over the past decade owe much to the exports of Irish technology-based companies. This high tech industrial base has transformed Ireland from being a producer of low technology commodities into a dynamic modern trading economy.
These companies are engaged in a continuous process of transformation centred on innovation and internationalisation. They have become successful players in the competitive global marketplace. These companies are fuelling the growth of the Irish economy and their success is indeed a national success.
This trade mission is solid evidence of our commitment to support and develop our mutual interests with the United Arab Emirates and create greater awareness of the potential for Ireland as your business partner.
I have no doubt that the Irish companies who are with me on this visit will find it a positive experience. As well as its success in generating new trade, it represents an excellent opportunity to form lasting relationships with businesses here. I wish you all every success.
Thank you.
ENDS