Dubai, United Arab Emirates

The Tánaiste and Minister for Enterprise, Trade and Employment Mary Coughlan T.D. today claimed that contracts worth €40 million in new export sales have been "signed" by Irish companies during the Enterprise Ireland trade mission to the United Arab Emirates (UAE) this week.

Making the announcement, the Tánaiste said: “The continued growth of Irish exports is critical to Ireland’s economic success so I am extremely pleased at the success of the companies on this trade mission in securing a further €40 million in new export sales this week.

“During this trade mission 32 contracts and agreements were signed by Irish businesses from a variety of important sectors such as construction services, engineering, architecture, software and financial services.  Companies offering high-value and sophisticated manufactured products such as medical devices were also successful in securing business in the Gulf region and one software firm opened a new office in Dubai.

“The UAE is a modern  highly sophisticated market.  That Irish companies are winning business here is a strong endorsement of the quality and level of sophistication that characterise Irish products and services.  The companies also represented a strong regional spread with companies from Donegal to Cork and Wexford to Galway all of which will benefit from the successes in the UAE this week”, Coughlan concluded.

It is likely that most of the claimed €40 million relates to past business. Much of the media and general public may fall for the spoof that all that is required to generate export business is for a minister to jet in on a trade mission. Trade missions require spin for minister to brag about contracts being "signed." What is closer to the truth is that Enterprise Ireland pulls together information on past deals and hey presto, the minister does not come back home empty handed!

Chief Executive Officer of Enterprise Ireland Frank Ryan added: “Enterprise Ireland been working consistently on building Irish exports to the UAE for a number of years now and our team in the region is actively working with UAE corporations to foster partnerships with Irish business and promote quality and innovative Irish products and services. 

“The success of our clients this week builds on Ireland’s growing export record in the UAE and it is particularly gratify to see companies in Internationally traded services such as construction, engineering, financial services winning business in this sophisticated and demanding consumer market.”

Enterprise Ireland’s Trade Mission to the United Arab Emirates involved 88 companies from a wide cross-section of  internationally traded services, as well as industrial and consumer sectors.  More than half of the companies on the mission operate in the construction services sector.  Other sectors represented include healthcare, software, telecoms, software and banking. 

The UAE is the fastest growing market for Irish companies. Irish exports to the UAE have more than doubled in the past four years and sales by Irish-owned SMEs increased by 34% last year.  More than 100 Irish companies export regularly to the UAE and there are now over 30 Irish companies that have a presence in the market.