Press release
Minister McGrath departs on official visit to the Gulf Region
Published on
Last updated on
Published on
Last updated on
The Minister for Finance Michael McGrath starts a 5-day official programme of engagements tomorrow (Friday, 14 December) in the United Arab Emirates, the Kingdom of Saudi Arabia and the State of Qatar.
Ireland is developing ever-closer links with the region, with resident embassies in Riyadh and Abu Dhabi as well as state agency offices in Dubai (Enterprise Ireland, Bord Bia and Tourism Ireland) and Riyadh (Enterprise Ireland).
Two-way trade, tourism and investment is growing while a vibrant Irish community is present in the region. The economic ties are strengthening all the time with goods exports from Ireland growing by more than 25% between 2021 and 2022. Education is another growth area, with Irish third-level institutions attracting increasing numbers of students and Irish third level institutions also establishing physical presences in the Gulf.
During his visit, Minister McGrath will meet ministers and key figures from each country and engage with those directly involved in business links with Ireland as well as the wider Irish community. He will also visit a number of major infrastructure projects.
Ahead of his departure, the Minister said:
“These countries are key strategic players regionally and globally - and Ireland is rightly growing its links with the region as a whole. The UAE has just hosted the COP28 summit, with Qatar having hosted the World Cup in 2022 and Saudi Arabia set to host EXPO in 2030. Two way trade between Ireland and these countries already amounts to more than €7.5 billion with potential for further growth.
"The European Union and the Gulf Cooperation Council together represent 20% of the global economy. The EU’s Joint Communication on “A Strategic Partnership with the Gulf” sets out the broad range of potential areas for enhanced cooperation, including on trade, energy, climate, political dialogue and people-to-people links. My visit as Minister for Finance in the coming days is aimed at deepening Ireland’s role in that partnership.”