Luck of the Irish? UAE and Ireland discuss economic ties
Minister of Economy Sultan Saeed Al-Mansouri and Chief Executive Officer of Enterprise Ireland Frank Ryan discussed enhancing the UAE's capabilities in various spheres such as small and medium size enterprises (SMEs), exchanging expertise, investment opportunities, innovation and scientific research, intellectual property to boost its transformation into a knowledge-based economy.
Al-Mansouri who is leading a high level business delegation to Ireland said the Dublin visit aims to explore venues of cooperation and opportunities for these sectors which are prioritized by the UAE's economy. He underscored the tapping Ireland's experience in supporting SMEs which meets the highest standards of innovation and is based on enhancing partnership between the business community and academic institutions.
He hailed the efforts made by the Irish government through Enterprise Ireland, the organisation responsible for the development and growth of Irish enterprises in world markets. Enterprise Ireland works in partnership with Irish enterprises to help them start, grow, innovate and win export sales on global markets.
"The UAE is in the process of drafting law governing small and medium enterprises /SMEs/ that is consistent with the economic system of the country and is planned to promote SMEs under a federal umbrella," minister Al-Mansouri said. "When approved, the law will encourage nationals to engage in SMEs, promote competitiveness and back the national economy," he added. Talks with the Irish officials will also discuss ways to increase trade between the two countries, the UAE minister said.
Trade between the UAE and Ireland is still below the target and does not reflect the available opportunities. Trade between the UAE and Ireland stood at US$8ر402 million in 2011 up from US$3ر314 in 2010, according to Al Mansouri.
- Is the Syrian crisis boosting Jordan's agricultural exports? Kingdom sees more than Dead Sea product exposure with 2014's increased fruit, veg, sheep trade abroad
- The only way is up! Dubai index pushes back, makes inroads to recover November performance
- What's its secret? Kuwait sustains non-oil growth for two years
- The reliable consumer: China on track to become biggest export market for GCC by 2020
- After the GCC 'happy' summit, is a customs union closer to reality?
- Dubai Chamber seeks stronger Irish business ties in bid to tackle food security
- ALHOSN University strengthens ties with Ireland with opening of new Irish resource center
- EDC welcomes Irish delegation to examine export opportunities in Dubai and the region
- From Dublin to Dubai, St. Patrick's Day fever sweeps the Middle East