Minister for Jobs, Enterprise and Innovation, Richard Bruton has announced a trade mission to the Middle East in April at the first Arab-Irish Business Forum.
Two key messages that could lead to the creation of 6,000 new jobs in Ireland by 2020 emerged at the forum; the opportunities for Irish companies are significant and that Irish companies are already experiencing success in the Arab world.
The value of the Arab world to Irish businesses grew by 16% in 2014 and with goods and services valued at €4 billion. This figure is predicted to rise to €6 billion by 2020. The number of jobs supported by trade with the Middle East is also likely to rise from an estimated 8,000 to 14,000.
Currently, the five Gulf countries of Saudi Arabia, Kuwait, the United Arab Emirates, Qatar and Bahrain account for over 70% of Irish business to the Middle East, and this region has been identified as providing the best opportunity for growth over the next ten years.
Speaking about the trade mission, Minister Bruton said, “Today’s announcement makes clear once again the scale of the possibilities that exist for Ireland in this region. I wish all involved every success and look forward to working with our partners in the Gulf to develop more opportunities for jobs and growth in Ireland.”
© 2015 - Checkout Magazine by Jenny Whelan.