The UAE has signed an agreement to establish a joint economic commission with Ireland as part of an effort to drive economic growth between the nations.
The agreement also includes a commitment to enhance economic and technical co-operation and will cover sectors including trade and investment, energy efficiency, renewable energy, infrastructure development, the digital and green economy, supply chain resilience, food security and healthcare technology.
The joint committee will promote business delegation visits, facilitate the exchange of information on economic developments and programmes, as well as striving to create a favourable two-way investment climate.
“The relationship between the UAE and Ireland is one of mutual respect and shared ambition," said Dr Thani Al Zeyoudi, Minister of State for Foreign Trade.
"With a foundation built on trade and co-operation, we are well-positioned to explore new avenues for investment and collaboration. The signing of this MoU [memorandum of understanding] is a testament to our commitment to enhancing bilateral relations and unlocking the significant potential that exists between our two countries.”
Non-oil trade between the UAE and Ireland reached $1.1 billion in 2024 up from $694 million in 2019.
“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, health care and life sciences," said Niamh Smyth, Irish Minister for Trade Promotion, AI and Digital Transformation.
"Once fully established, it will serve as a vehicle to enhance internal co-operation and co-ordination, 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.”
News of the joint economic commission come on the same evening as President Sheikh Mohamed announced that the UAE and the EU, of which Ireland is a member state, have agreed to begin talks on a potential trade deal.
