FinTech, Aviation and MedTech sectors lead in Irish export sales to Middle East, Africa and India

10x Industry

Mita Srinivasan
10x Industry
Published:

FinTech, Aviation and MedTech sectors lead in Irish export sales to Middle East, Africa and India

Exports by Irish companies increased by 18 percent in the Middle East, Africa and India to record high of €1.45bn. Gulf region is a major growth market for Ireland, with increasing number of exports to United Arab Emirates, Saudi Arabia and Qatar.

New record figures released by Enterprise Ireland, the Irish Government's trade and innovation agency, show exports to the Middle East from Ireland continue to rise substantially across most sectors. Exports by companies it supports increase by 18 percent to a record €1.45bn last year to the India, Middle East and Africa wider region. The latest statistics add to the record year seen for Enterprise Ireland globally, with 2021 being the highest ever level of growth for Enterprise Ireland-backed companies in export value at €27.29bn last year.

Conor Fahy, Regional Director for the Middle East, India and Africa at Enterprise Ireland, said, "In our priority markets in the Middle East, we continued to see strong growth in exports with Saudi Arabia increasing by 13 percent year on year, UAE by 7 percent, and Qatar up 16 percent. We are also experiencing greater interest by Irish companies seeking to broaden their international export markets and are increasingly looking towards the Middle East as part of their market diversification and growth plans."

Irish companies enjoy success in the marketplace, with local partners valuing Irish innovation across various sectors. Strong export figures were seen across all sectors, including FinTech, Aviation, and MedTech marking the highest ever level of growth for Enterprise-Ireland backed companies such as daa International, Aerogen and Hanley Energy.

Enterprise Ireland-backed companies such as daa International are making a great impact in the region. daa International offers an array of airport operational management services globally, including operating Terminal 5 at King Khalid Airport in the Saudi capital, Riyadh. Recently, the company also won a multimillion-euro contract to manage the Jeddah Airport in Saudi Arabia for the next five years. The company was also awarded the contract for Red Sea Development Company, the developer of the Red Sea Project, a unique and luxury tourism destination in Saudi Arabia.

Earlier in 2022, Dubai's Roads and Transport Authority (RTA) signed an MoU with Enterprise Ireland to bring Irish innovation and best practices to Dubai's transportation sector. With an aim to promote economic and commercial relationships between the UAE and Ireland, the agreement opens the door to build further on the existing Irish companies focused on the Middle East market.