Page 157 - MOE ENGLISH PR REPORT - APRIL 2025 (Part 2)

The Joint Economic Committee will promote business delegation visits, facilitate the exchange of
information on economic developments and programs, and strive to create a favorable two-way
investment climate. Additionally, the MoU encourage both parties to engage and foster
collaboration at international exhibitions, conferences, and seminars, and addressing any
obstacles hindering bilateral economic cooperation.

Dr. Thani Al Zeyoudi remarked, “The relationship between the UAE and Ireland is one of mutual
respect and shared ambition. With a foundation built on trade and cooperation, we are well-
positioned to explore new avenues for investment and collaboration. The signing of this MoU is a
testament to our commitment to enhancing bilateral relations and unlocking the significant
potential that exists between our two countries.”

Niamh Smyth highlighted the warm reception received from Dr. Thani Al Zeyoudi and his team as a
reflection of the friendship that has grown between Ireland and the UAE, adding the significance of
signing the agreement as the two nations mark 50 years of diplomatic relations.

Smyth said, “The Joint Economic Commission will give a new forum for further collaboration in
areas such as trade and investment, aviation, education and research, renewable energy and green
technology, healthcare and life sciences. Once fully established, it will serve as a vehicle to
enhance internal cooperation and coordination, strengthening Ireland’s partnership with one of the
most dynamic economies in the world, and one with huge potential for increased bilateral trade
and investment.”
Smyth concluded that growth in UAE-Ireland relations would not have been possible without the
State Agencies of each side, Enterprise Ireland, Bord Bia, the IDA, and Tourism Ireland, who “work
tirelessly to promote Ireland here in the UAE,” she said, adding that “through these collective
efforts, the bilateral relationship has reached truly remarkable heights.”

The relationship between the UAE and Ireland is characterized by shared values and mutual
commitment to fostering innovation and technology-driven economies. Both nations are actively
developing their business ecosystems to attract foreign direct investment in strategic sectors. With
over 1,000 Irish trademarks registered in the UAE, including notable companies like Stripe and
Kentech Group, there is a clear indication of growing economic ties. Previous collaborations, such
as the MoU between Dubai’s Roads and Transport Authority (RTA) and Enterprise Ireland, highlight
the importance and mutual benefit of increased trade and connectivity.

The establishment of the Joint Economic Committee will serve as a vital institutional framework for
enhancing economic dialogue and cooperation, enabling both countries to develop programs and
initiatives that further strengthen their partnership and promote sustainable economic growth. With
non-oil trade between the UAE and Ireland reaching US$1.1 billion in 2024 up from US$694 million
in 2019, this collaboration aims to elevate trade exchanges to new heights that reflect the many
opportunities of mutual benefit available in both countries.

https://www.wam.ae/en/article/bj3wkvx-uae-ireland-sign-mou-enhance-economic-technical