Gulf Region Trade Mission – could not have been better timed.

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The trade mission last week to the Gulf States of Saudi Arabia and the United Arab Emirates was considered a major success by Irish exporters participating.

The Irish Exporters Association stated that it was particularly significant that also last week, the EU had completed Trade negotiations which should lead to a ‘Trade Free Area’ being created with the Gulf States of Saudi Arabia, United Arab Emirates, Bahrain, Kuwait, Oman and Qatar.

John Whelan, CEO of the Irish Exporters Association stated:

“The Gulf states, particularly the core markets of Saudi Arabia and the U.A.E. are currently one of Irelands fastest growing export markets, with exports to the region of €670 Million, an increase of 29% approx on the prior year. This put the Gulf States as the 20^th largest market for Irish exporters.

However, there is potential for even faster growth to the Gulf States, who currently are the EU’s sixth largest export market accounting for around €40 Billion export sales.”

He went on to say;

“Last weeks trade mission has been a major step on the acceleration of export trade to the Gulf Region”.

The round of negotiations concluded last week by the EU should enable a free trade area to be created between the 6 Gulf States and EU member states which should remove remaining barriers to trading in goods and services, investment and public procurement.

The Irish Trade Mission led by An Taoiseach Bertie Ahern, T.D., could not have been better timed. It enabled Irish exporters and the state promotion bodies for industrial goods and services, food and fish, to put Irish goods and services first in line in the further opening up of his lucrative market.

The Irish Exporters Association CEO John Whelan further stated:

“The recent liberalisation of the telecoms, banking, insurance, and education markets has enabled good progress to be made in these sectors during the recent trade mission with software companies providing products in these areas particular benefiting.

Trade statistics with Gulf States:

ENDS

For further information please contact:

John Whelan
Irish Exporters Association
Tel: 01 6612182