Niall Collins
Question:168. Deputy Niall Collins asked the Minister for Business, Enterprise and Innovation if trade missions are planned for Kuwait in the near future; and if she will make a statement on the matter. [28265/18]
View answerWednesday, 27 June 2018
Questions (168)
Written answers
Current planning envisages a ministerial led trade mission to Kuwait in the latter half of 2018. It will feature high profile buyer networking events and individual itineraries of buyer meetings for participating Enterprise Ireland client companies. Enterprise Ireland has prioritised Enterprise Ireland client activity in Kuwait for 2018, and ran a client networking event in Kuwait in February which coincided with a visit by Minister of State for the Diaspora and International Development Ciaran Cannon.
The Trade Mission in November will be especially relevant to Enterprise Ireland clients in the Agri/Food Tech, Maritime/Logistics, Healthcare, ICT, Fintech, Retail and Professional Services sectors. This trade mission is timed to coincide with the Gulf Food Manufacturing and SeaTrade Exhibitions.
Enterprise Ireland is the state agency under my aegis with responsibility for helping Irish companies to internationalise and scale. Enterprise Ireland’s Trade Missions and Events promote the capabilities of client companies to potential business partners and customers in international markets; a central element of the agency’s strategy for 2017 -2020: Build Scale, Expand Reach. In 2017 Enterprise Ireland ran 57 Ministerial-led international trade events, including trade missions to Japan, China and Oman.
On the 12th of March, Enterprise Ireland announced that it is set to undertake over 200 international and domestic trade events in 2018 to accelerate the number of Enterprise Ireland clients diversifying into new markets, beyond the UK and into the Eurozone and global markets. The number of trade events being undertaken represents a 50% increase on 2017, reflecting the challenge that Brexit poses for Irish businesses. 70 of these export focused trade events will be led by Government Ministers.
Irish Companies have enjoyed success on previous Trade Missions to the Gulf states including a visit to Oman and UAE in November 2017 where three Irish companies announced deals with Oman partner companies. On the same Trade Mission, Enterprise Ireland and Atlantic Bridge signed agreements with the Oman Technology Fund to further facilitate market entry in Oman for Enterprise Ireland clients and co-investment opportunities in Irish companies. On the same trade mission, the Dublin-based manufacturer of aviation fabrics and carpets, Botany Weaving, announced that it has secured a multi-million dollar deal with a UAE airline.
Outside of Trade Missions, Enterprise Ireland covers the Middle East & North Africa markets from its strategic office locations in Dubai, Abu Dhabi, Riyadh, and Doha. The Gulf States represent a significant market opportunity for export-focused Irish companies as a region heavily reliant on imports and with major ambitions for infrastructural development.
The Gulf region has become a hub for international air travel, connecting Ireland to Asian and African markets and facilitating global expansion for Irish enterprises. A recent economic report commissioned by the Arab-Irish Chamber of Commerce forecasts that Irish exports to the Arab markets have the potential to reach €9 billion over the next two decades.