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Five-fold growth in Irish trade with Gulf

Michael Ahern, Ireland's Minister for Trade & Commerce, who is heading a trade mission of 18 Irish companies to the Gulf, said Irish imports from the region also showed a similar upswing. "This sustained growth in the two-way trade signals a positive trend against the backdrop of challenging global times." Irish exports to the region grew from $155 million in 1991 to over $785 million last year, representing an annual growth of 15-20 per cent, the miniser said at a Press conference.

The trade mission, visiting Bahrain, the UAE and Saudi Arabia, consists mainly of major Irish software and education and training companies.

The minister said Enterprise Ireland, the trade and technology agency of the Irish Government, which launched its regional office in Dubai last year, has been working with a growing number of Irish and local business interests to identify export opportunities and key potential partners. "It has brought Gulf buyers to Ireland and supports more Irish companies who are interested in developing business in the region. This has successfully resulted in two new Irish companies opening offices in Dubai in recent months."

Ahern said that there were many opportunities for accelerated trade growth throughout the Gulf region, with potential to increase sales in areas where Irish companies were already successful, such as software in the banking, telecoms and e-learning sectors, third level education, process control and automation, and construction services.

He said Irish third level education institutions had attracted many students from the Gulf region to study in Ireland. "Many students had traditionally enrolled in medicine, with a wide range of other courses becoming increasingly popular. In the academic year 2002-2003, there were more than 600 Gulf and Middle Eastern students in Ireland."

Nicholas Marmion, Regional Manager of Enterprise Ireland, said Dubai Chamber of Commerce and Industry, the Irish community in Dubai, and the positive reception from UAE business, have made a key contribution to assisting Irish companies to come so far in such a relatively short time. He said that Dubai was selected as the ideal spot for Enterprise Ireland's regional office due to its strategic location, its open business-friendly environment and the rapid progress of Dubai as a AGCC distribution centre and IT knowledge hub. "We are excited about the substantial trade opportunities that can be developed and strengthened between Ireland and the region."

The Irish companies taking part in the trade mission include Dublin Business School, Dublin International Foundation College, Griffith College, Executive and Professional Tertiary Institute, Shannon College of Hotel Management, Royal College of Surgeons in Ireland, CR2, Daon, DATAC, Electric Paper, Ossidian, Xiam, ESB International, Epionet, Celtic Sea Minerals and Merenda.