UAE and Ireland to establish Joint Economic Commission

The UAE and Ireland have signed an Memorandum of Understanding (MoU) to establish a Joint Economic Commission to facilitate ongoing dialogue and collaboration.

It is part of a broader effort to drive mutual economic growth and increase private sector engagement between the two nations, national news agency Wam reported.

The MoU has been signed between Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade, and Niamh Smyth, Ireland Minister for Trade Promotion, AI and Digital Transformation.

It will explore collaboration in various sectors, including trade and investment, renewable energy, infrastructure development, the digital and green economy, supply chain resilience, food security, healthcare technology, and other areas of shared interest.

The Committee will serve as a vital institutional framework for enhancing economic dialogue and cooperation.

It will also enable both countries to develop programmes and initiatives that further strengthen their partnership and promote sustainable economic growth.

"The MoU is a testament to our commitment to enhancing bilateral relations and unlocking the significant potential that exists between our two countries," highlighted Dr. Thani Al Zeyoudi.

Smyth added 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".

With non-oil trade between the UAE and Ireland reaching $1.1 billion in 2024 up from $694 million in 2019, this collaboration aims to elevate trade exchanges to new heights that reflect the many opportunities of mutual benefit available in both countries.