10th April 2025
Niamh Smyth, Minister of State for Trade Promotion, Artificial Intelligence and Digital Transformation, signed a Memorandum of Understanding with His Excellency Dr Thani Al Zeyoudi, Minister of State for Foreign Trade, on 10 April in Dubai establishing a new Joint Economic Commission between Ireland and the United Arab Emirates.
Joint Economic Commissions are a valuable forum for officials to discuss and exchange information and consult on trade and economic issues. This agreement builds on longstanding links and cooperation between the two countries and enhances the bi-lateral relationship between Ireland and the UAE.
Bilateral trade between Ireland and the UAE with a value of nearly €8 billion annually, positions the UAE as Ireland’s largest trading partner in the Arab world.
Minister Smyth said:
“I would like to thank our Ambassador, Alison Milton, and her staff for their work in promoting our bilateral relations in the region. The warm reception I received today from Minister Thani Al Zeyoudi and his team is a reflection of the friendship that has grown over the last fifty years of diplomatic relations between Ireland and the UAE. It is very fitting that this agreement is being signed on the same day as Ireland is marking 50 years of diplomatic relations with the UAE.
"In that time, both of our countries have enjoyed sustained growth in our respective economies. That growth would not have been possible without our State Agencies, Enterprise Ireland, Bord Bia, the IDA, and Tourism Ireland, who work tirelessly to promote Ireland here in the UAE. Through these collective efforts, the bilateral relationship has reached truly remarkable heights.
"The Joint Economic Commission will give a new forum for further collaboration in areas such as trade and investment, aviation, education and research, renewable energy and green technology, healthcare and life sciences. Once fully established, it will serve as a vehicle to enhance internal cooperation and coordination, strengthening Ireland’s partnership with one of the most dynamic economies in the world, and one with huge potential for increased bilateral trade and investment.”
His Excellency Dr Thani Al Zeyoudi said:
“The relationship between the UAE and Ireland is one of mutual respect and shared ambition. With a foundation built on trade and cooperation, we are well-positioned to explore new avenues for investment and collaboration. The signing of this MoU is a testament to our commitment to enhancing bilateral relations and unlocking the significant potential that exists between our two countries.”
Notes to the editors
Ireland currently maintains active Joint Economic Commissions (JECs) with China, Saudi Arabia and the Republic of Korea which facilitate dialogue at official level across a range of economic, trade, investment, innovation and science and technology fields. This signing of this agreement with the UAE establishes a new JEC.
JECs provide a valuable forum for exchanges and experience-sharing regarding economic and industrial policies. They can act as a platform to progress mutually beneficial trade and investment promotion, raise market access or regulatory issues and support closer cooperation in priority areas such as science, innovation and technology, education, connectivity, labour markets, green and digital transformations, supply chain resilience, tourism and culture, agriculture and food security, health, aviation and aerospace, and cybersecurity. The format allows partners to receive a response on important trade and investment issues, to discuss WTO developments and to increase awareness of our countries and respective enterprise and economic priorities among key decision makers. A JEC can also provide a mechanism for progressing matters proposed already, for example, under previously suggested MoUs.
On the Irish side, the Department of Enterprise, Trade and Employment continue to lead on establishing and coordinating Ireland's approach to JECs. In general, JECs meet on a biennial basis, at senior official level, with location alternating between the partners.
ENDS
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