In a significant move to deepen economic collaboration, the United Arab Emirates and Ireland have signed a Memorandum of Understanding (MoU) aimed at enhancing economic and technical cooperation.
The agreement 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.
The MoU establishes a Joint Economic Commission that will serve as a formal platform for dialogue, facilitating the exchange of information, promoting private sector engagement, and encouraging investment in key strategic sectors. These include trade and investment, renewable energy, digital transformation, healthcare technology, infrastructure development, food security, and the green economy.
Dr. Al Zeyoudi highlighted the MoU as a reflection of the shared ambition between the two nations.
“With a foundation built on trade and cooperation, we are well-positioned to explore new avenues for investment and collaboration,”
he said.
Niamh Smyth underscored the importance of the agreement as the UAE and Ireland celebrate 50 years of diplomatic relations. She emphasized that the Joint Economic Commission would open new opportunities in aviation, education, life sciences, and more.
“This agreement strengthens Ireland’s partnership with one of the most dynamic economies in the world,”
she added.
The collaboration builds on a growing economic relationship, with non-oil trade between the two countries rising to $1.1 billion in 2024, up from $694 million in 2019. The MoU also acknowledges the contributions of state agencies such as Enterprise Ireland, Bord Bia, and Tourism Ireland in strengthening bilateral ties.
With over 1,000 Irish trademarks registered in the UAE and ongoing cooperation across sectors, the MoU lays a robust foundation for sustainable economic growth and expanded trade between the two innovation-driven economies.
News Source: Emirates News Agency
