UAE, Ireland ink MoU to enhance economic, tech cooperation

The UAE and Ireland have signed a memorandum of understanding (MoU) to enhance economic and technical cooperation and establish a Joint Economic Commission, as part of wider efforts to deepen bilateral ties and promote private sector engagement.

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 aims to bolster collaboration in sectors including trade and investment, energy efficiency, renewable energy, infrastructure, the digital and green economy, supply chain resilience, food security, healthcare technology, and other areas of shared interest.

Key provisions of the MoU include the development and diversification of economic and technical cooperation based on mutual benefit and equality.

The Joint Economic Committee will support the exchange of information on economic developments, promote business delegation visits, and work to foster a favourable investment climate for both countries.

The agreement also encourages participation in international exhibitions, conferences, and seminars, and aims to address obstacles to bilateral economic cooperation.

Mutual respect and shared ambitions

Dr Thani Al Zeyoudi said, “The relationship between the UAE and Ireland is one of mutual respect and shared ambition. With a foundation built on trade and cooperation, we are well-positioned to explore new avenues for investment and collaboration. The signing of this MoU is a testament to our commitment to enhancing bilateral relations and unlocking the significant potential that exists between our two countries.”

Niamh Smyth, who noted the signing coincides with the 50th anniversary of diplomatic relations between the two nations, added: “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. Once fully established, it will serve as a vehicle to enhance internal cooperation and coordination, strengthening Ireland’s partnership with one of the most dynamic economies in the world.”

Smyth also praised the contributions of Irish state agencies, including Enterprise Ireland, Bord Bia, the IDA, and Tourism Ireland, in promoting Ireland in the UAE. “Through these collective efforts, the bilateral relationship has reached truly remarkable heights,” she said.

UAE-Ireland ties, trade continues to grow

The UAE-Ireland relationship is underpinned by shared values and a commitment to innovation and technology-driven growth. Both countries are actively developing business ecosystems to attract foreign direct investment in strategic sectors.

With over 1,000 Irish trademarks registered in the UAE — including companies like Stripe and Kentech Group — economic ties continue to strengthen.

Previous partnerships, such as the MoU between Dubai’s Roads and Transport Authority (RTA) and Enterprise Ireland, underscore the growing momentum behind increased trade and connectivity.

Non-oil trade between the UAE and Ireland reached $1.1bn in 2024, up from $694m in 2019.

The new Joint Economic Committee is expected to serve as a key institutional mechanism to develop initiatives and programs that further deepen the bilateral relationship and promote sustainable economic development.