The value of Irish exports to the Arab world rose by 6% in the first quarter of 2024 to €731m, the Arab Irish Chamber of Commerce (AICC) said today.
Machinery and equipment, medical and pharma, food and beverages, textiles and footwear are amongst the top products heading east from Irish businesses, including a growing number of SMEs.
The Arab region is highly reliant on imports and with a population of nearly 38 million, Saudi Arabia has grown to become the largest importer of Irish goods among the Arab states.
The value of goods to Saudi Arabia increased by 4% to €244m during the first three months of the year compared to the same time last year.
Meanwhile, United Arab Emirates (UAE) saw huge growth for Irish exporters in the first quarter of 2024, with the value of goods imported rising 62% to €203m.
Exports to Egypt saw a rise of 14% to €62.4m, while Iraq saw a rise of 16% to €43m.
A new Iraqi embassy opened in Dublin, which the AICC said is a clear indication of the country wanting to build a closer business relationship with Ireland.
While Ireland exported just €1,000 worth of products to the occupied State of Palestine in the first quarter of 2023, €0.25m worth of medical and pharmaceutical products were imported from Ireland in the first quarter of this year.
“Growing economies, expanding populations, and significant investment in infrastructure, urban growth, tourism and renewable energy have opened up new opportunities for Irish exporters and those looking to do business both in and with countries such as the United Arab Emirates and Saudi Arabia,” said Ahmad Younis, CEO of the AICC.
“As an Arab living in Ireland for more than 40 years, I have seen how well received and respected Irish businesses are in the Middle East and Gulf, and I can see many similarities between the two cultures, which certainly helps when it comes to doing business,” he added.
He said it was not unusual to visit a supermarket in Dubai and see Irish products such as butter, chocolates and meats on the shelves.
“Monaghan’s Silverhill Duck for example, has achieved incredible success in the UAE and is one of many Irish food producers looking east for export opportunities,” Mr Younis said.
He said that with four airline carriers providing direct access to Arab markets and a growing population exceeding 440 million, it is clear why Irish businesses are drawn to this region of immense opportunity.
“While entering these markets can seem challenging, excellent support is available from state agencies like Enterprise Ireland and Bord Bia, both of which have a strong local presence,” he said.