- Irish business exports increased by 18% in India, the Middle East and Africa reach an all-time high of 1.45 billion euros, with the FinTech, Aviation and MedTech sectors leading in export sales.
- The Gulf region is a major growth market for Ireland, with a growing number of exports to the United Arab Emirates, Saudi Arabia and Qatar.
Dubai, United Arab Emirates – New record figures show Irish exports to the Middle East continue to grow significantly across most sectors. Data released by Enterprise Ireland, the Irish government’s agency for trade and innovation, shows that exports from the businesses it supports rose 18% to a record €1.45 billion the last year to India, the Middle East and Africa at large.
The latest statistics add to the record year for Enterprise Ireland globally, with 2021 being the highest level of growth ever for Enterprise Ireland-backed businesses in export value – up 12% and valued to 27.29 billion euros last year.
Conor Fahy, Regional Director for India, Middle East and Africa at Enterprise Ireland, welcomed the strong results saying: “Demand for Irish innovation is at an all time high across the region and accelerating. from year to year. have seen a real appetite for innovation from businesses and governments as they emerge from the Covid-19 pandemic, with Irish businesses responding to the needs of local partners.
“In our priority markets in the Middle East which received ministerial visits and trade missions, we continued to see strong export growth, with Saudi Arabia up 13% year-on-year, the United Arab Emirates up 7% and Qatar by 16%.We are also seeing greater interest from Irish companies looking to expand their international export markets and are increasingly looking to the Middle East as part of their diversification plans. markets and growth.
Growth in demand for Irish innovation
Irish businesses are finding success in the marketplace, with local partners promoting Irish innovation in a variety of sectors. Strong export figures were seen across all sectors, including FinTech, Aviation and MedTech, marking the highest level of growth ever for Enterprise-Ireland-backed companies such as daa International, Aerogen and Hanley Energy.
The Middle East: an important region for Irish growth
With the Middle East being a key growth market for Irish companies, more and more Irish companies are looking to expand their presence in the region. Currently, Enterprise Ireland supports over 400 Irish companies exporting or seeking to export in the Middle East region.
Signifying the importance of the region to Ireland and Irish businesses, a series of ministerial visits and trade missions have been carried out over the past year to further strengthen business ties in key markets of Saudi Arabia, the Emirates Arab States and Qatar.
Irish Deputy Prime Minister Leo Varadkar TD visited Saudi Arabia and the United Arab Emirates last year with Leo Clancy, CEO of Enterprise Ireland. The trade mission aimed to boost business collaboration by helping Irish businesses access GCC export and partnership opportunities, establish strategic links with local partners and strengthen existing relationships.
Companies supported by Enterprise Ireland such as daa International are making a big impact in the region. daa International offers a range of airport operational management services around the world, including the operation of Terminal 5 at King Khalid Airport in the Saudi capital, Riyadh. Recently, daa international was awarded a multimillion-euro contract to manage Jeddah airport in Saudi Arabia for the next five years.
The company also won the contract for Red Sea Development Company, the developer of the Red Sea project, a unique and luxury tourist destination in Saudi Arabia.
Earlier this year, Dubai’s Roads and Transport Authority (RTA) signed a Memorandum of Understanding with Enterprise Ireland to bring Irish innovation and best practice to Dubai’s transport sector. With the aim of promoting economic and commercial relations between the United Arab Emirates and Ireland, the agreement opens the door to a strengthening of existing Irish companies focused on the Middle East market.
With a long-established relationship in the Middle East, Enterprise Ireland supports Irish companies looking to do business in the region and further develop their exports. With an annual growth in exports from Irish companies, they are helping to meet the demand for cutting-edge innovation in products and solutions in various sectors.
About Enterprise Ireland
- Enterprise Ireland is the Irish government’s agency for trade and innovation.
- We invest in the most innovative Irish companies at all stages of their growth and connect them to international clients across multiple sectors.
- Our aim is to establish successful and long-term business relationships between international companies and Irish partners.
- With 40 offices around the world, including the United Arab Emirates (Dubai and Abu Dhabi) and Saudi Arabia (Riyadh), Enterprise Ireland’s teams of industry experts consult with international companies to understand and solve their business needs.
For reference, please contact:
Karen Lobo, Junior Advisor at Manara Global
Email: [email protected]