UAE has signed a Memorandum of Understanding (MoU) with Ireland to enhance economic and technical cooperation and the establishment of a Joint Economic Commission between the countries.
The MoU was signed by Dr. Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, and Niamh Smyth, Ireland’s Minister for Trade Promotion, AI, and Digital Transformation. It forms part of a broader initiative aimed at boosting mutual economic growth and enhancing private sector collaboration between the two countries.
The MoU aims to strengthen bilateral trade relations and establish a Joint Economic Committee to facilitate ongoing dialogue and collaboration. It will explore collaboration in various sectors, including trade and investment, energy efficiency, renewable energy, infrastructure development, the digital and green economy, supply chain resilience, food security, healthcare technology, and other areas of shared interest.
Further, the key points of the MoU include developing and diversifying economic and technical cooperation founded on shared values of equality and mutual benefit.
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 encourages both parties to engage and foster collaboration at international exhibitions, conferences, and seminars, and address any obstacles hindering bilateral economic cooperation.
Dr. Thani Al Zeyoudi remarked that, “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.”
For her part, Niamh Smyth stated that, “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,” adding that “through these collective efforts, the bilateral relationship has reached truly remarkable heights.”
