From 14th to 19th January 2007, An Taoiseach, Bertie Ahern, led Enterprise Ireland's trade mission to the Kingdom of Saudi Arabia and United Arab Emirates (UAE). He was accompanied by Minister for Enterprise, Trade and Employment Micheál Martin; Minister for Agriculture and Food Mary Coughlan and Minister for Education and Science Mary Hanafin. The mission visited Riyadh, Abu Dhabi and Dubai.
The mission involved a total of 114 Irish companies, organisations and educational institutions, primarily involved in the ICT, Educational Services, Environmental/ Engineering Services, Medical Devices and Food and Drinks sectors. Over 1,200 meetings took place between the Irish participants and their potential and existing customers.
Initial estimates from companies and organisations participating in the mission, place the value of agreements reached at €65 million over the next 12 to 36 months. In addition to these specific agreements reached and, also, for the longer term, we would envisage a steady increase in the level of trade between Ireland and these countries. The exact rate of increase for the future is not possible to estimate at this stage.
Drawing a direct one-to-one correlation between trade missions and their impact on exports or imports in the short or long term, is obviously extremely difficult. The objectives of participants can vary in nature, as some will be at different stages of export development.
Ireland has a very significant trade surplus with both Saudi Arabia and the U.A.E. so in relation to imports from there, it is likely, given the very low level of imports at present, that the pattern will be upwards. While is not possible to make firm predictions, the pattern has been that the improved linkages and business contacts generated in export promotion, can also lead to an expansion in imports from those countries also.
Trade Missions are an important activity in overall export promotion strategy in Ireland and they play a key part of strategic business development in other industrialised countries. It should be noted that such missions are not simply focussed on developing trade but are now increasingly creating opportunities over a range of business areas — creating linkages and building contacts and networks that will produce benefits over the very long term.