JOINT ARAB IRISH CHAMBER OF COMMERCE EVENT CELEBRATES
25 YEARS OF TRADE WITH ARAB MARKETS
Exports up by 34% since 2007 to almost €3 billion.
There is enormous potential for sustained growth of Irish companies across the Arab region which is now firmly established as the third most important market region for Ireland outside of Europe, ahead of North America and China, guests were told, by Louis J. Maguire, Chairman of the Joint Arab Irish Chamber of Commerce (JAICC), at a special event hosted today, Wednesday, 12th September, in the Shelbourne Hotel, Dublin to celebrate the Chamber’s 25 years in operation.
Over 250 invited guests, including Irish exporters to the Arab countries, Ambassadors, and representatives from government bodies were addressed by Mr Richard Bruton, T.D. Minister for Jobs, Enterprise & Innovation, on the importance of the Arab market place to the Irish economy.
“As I have said on many occasions, a strong export performance will be crucial to delivering the jobs recovery we are all working so hard to achieve. If we are to continue to increase our exports, we must target growth not only in our traditional markets such as Europe and North America, but also in other parts of the world where trade links have not historically been as strong.
“Since 2007 our total exports to countries represented by the JAICC have increased by a very impressive 34% to almost €3 billion. However I believe that there is a lot more potential for growth in our mutual trade links and the Government, in particular through Enterprise Ireland, will be targeting improved performance over the coming years. I commend the Joint Arab Irish Chamber of Commerce on all their work on strengthening those links over 25 years. This evening’s event shows that the relationship is very strong, has potential for further growth, and I am determined to ensure that that potential is realised”.
The Joint Arab Irish Chamber of Commerce (JAICC), a non-profit organisation, was established in 1987. It promotes commercial, industrial, tourist and financial relations between the Arab countries and the Republic of Ireland. The JAICC was established under the General Union of Chambers of Commerce, Industry and Agriculture for the Arab Countries. The General Union was founded in 1951 with 21 members representing the national chambers of commerce in 21 Arab states. Similar Joint Chambers have been established in 19 other countries which are major trading partners with the Arab countries including the UK, France, Germany, USA, Brazil, China, Russia and Australia.
“The story of the excellent trade relationships between Ireland and the Arab world is not a new one, yet is certainly worthy of celebration” commented Louis J. Maguire, Chairman of the JAICC. “When the Chamber was founded in 1987, export merchandise trade to the Arab states from Ireland was valued at €256 million. The equivalent trade figures for 2011 were almost €3 billion of which €1.5 billion was made up of merchandise exports and the balance by services”, he continued.
The JAICC’s primary role is the facilitation of trade through the provision of essential certification documentation and services to exporters from Ireland to the Arab markets it represents. As it celebrates a significant milestone, the Chamber is also expanding its role to promote opportunities for key Arab and Irish business interests to meet and develop trade and investment potential. “We at the Chamber believe that Ireland should look to emerging Arab economies as part of an overall strategy for the next phase of its economic growth. We are proud of the Chamber’s contribution so far and justifiably optimistic about the enormous growth potential waiting to be tapped”, Maguire concluded.
Interesting facts about Ireland’s relationship with the Arab Markets:
· Irish companies are exporting the following merchandise to the Arab countries;
Market % of all exports
Food and Live Animals 21.8%
Beverages and Tobacco 0.4%
Crude Materials (non fuel) 0.4%
Mineral fuels, lubricants and related products 0.1%
Chemicals and related products 51.0%
Manufactured goods 1.07%
Machinery & transport equipment 20.2%
Miscellaneous manufactured articles 5.1%
Commodities 0.01%
· Arab states represent Ireland’s third biggest export market region outside of Europe (behind North America and China).
· Ireland’s three largest Arab trading partners are:
Country % all exports
Saudi Arabia 34%
The United Arab Emirates (UAE) 20%
Egypt 9%
· The Department of Foreign Affairs has a permanent Ambassador resident in all three countries. Additionally, the following countries have opened their own Embassies in Dublin: Egypt, Morocco, Saudi Arabia, the United Arab Emirates and Palestine with Honorary Consuls also representing Tunisia, Jordan and Oman.
-ENDS-
For reference:
http://www.jaicc.ie/trade_statistics
http://www.doingbusiness.org/reports/regional-reports/arab-world/
Tags: Public Relations