Exports to Arab states reached an all-time high between January and the end of September last year.
In total, goods and services worth 2.2 billion euros were shipped to Arab countries in the nine months, 23% more than in the same period last year.
Algeria, Bahrain, Egypt, Oman, Qatar, Saudi Arabia, the United Arab Emirates and Yemen were among the countries receiving the highest levels of Irish imports.
“The Arab World represents a diverse and rapidly growing market for Irish businesses, so the opportunities really are endless,” said Ahmad Younis, chief executive of the Irish Arab Chamber of Commerce, reports RTE.
There are 21 countries in the region, which together have a population of 444 million, and that number is projected to rise to 500 million by 2028.
Together, the states make up 3.1% of the world economy, creating ample opportunity for Irish business.
“The international reputation for Irish products is strong. Irish agricultural produce is regarded as of a high quality, with a strong organic component. For technology, and pharmaceutical products, Ireland is recognised as a highly regulated and high-quality production environment,” Mr Younis said, reports RTE.
The chamber said the State Department is also working to support the development of business opportunities in the region.
The Middle East has been designated as a priority market under the government’s trade and investment strategy.
As a result, more field staff were deployed in the new embassies and staff from Enterprise Ireland, IDA and Bord Bia.
“Connectivity is an important driver of trade in goods and services, particularly tourism in both directions,” adds Mr Power, reports RTE.
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