Ireland aims to build on the business-the Gulf stream

  • Ireland aims to build on the business-the Gulf stream
    Independent.t. E.
    This column is a big supporter to travel without red tape – and a few smart moves on the part of Ireland already opening doors to new markets.
    https://www.independent.ie/business/in-the-workplace/ireland-keen-to-build-on-the-gulf-business-stream-37207154.html
    https://www.independent.ie/business/article37207153.ece/e0b7e/AUTOCROP/h342/2018-08-12_bus_43139822_I1.JPG

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This column is a big supporter to travel without red tape – and a few smart moves on the part of Ireland already opening doors to new markets.

When you click on the business diversification of Ireland Inc in a post-brexit world, Ireland has removed visa requirements for citizens of the United Arab Emirates since last January.

And last month, Ireland opened foreign visas – the first in the UAE where foreigners living in the region can apply for Irish visas.

The logic is that the area is home to a large number of wealthy people and foreigners heads of multinational companies, Ireland can cross by simplifying the process of entry into the country.

Instead of having to visit the Embassy of Ireland in Abu Dhabi, the process is simplified, including a ‘Premium room’ service where staff will assist claimants to fill out their profiles.

It is early days for the new service – operated by VFS global, presenting itself as the world’s largest specialist outsourcing and technical services for diplomatic missions, but the decision on visa-free regime is already paying dividends.

ENDA Corneille, Regional Manager for the countries of Emirates airline in Ireland, told the “Sunday independent” “since January, we have seen a 17pc increase in total business coming from the UAE to Ireland at Dubai.”

Corneille added that the jump was noticeable from the first quarter of this year, so it can’t be put down to tourism, when UAE nationals head from the infernal summer heat there. “Nothing else has changed, so I can put it down to visa exemption,” he says.

And the jump was unexpected, given that only one of five passengers on its flights actually stay in the city of Dubai: “only business class has increased by 28pc. I was very surprised to see that”.

Not that he complains. “My job is a little different from most of the leaders of the country that I measured on the profitability route”, with equal emphasis on inbound, not outbound, bums on the seats.

Given the Economics of aviation, where a full business class means more profit, “where you see great growth in front of the bus, this is worth,” he said. Kornel believes that this figure is “indicative of the possible real economic benefits to Ireland of having these benefits in place,” and said that the new office for foreign nationals “are going to drive traffic even higher.”

While much attention is paid in the Asia-Pacific region, especially China, trade with the UAE is significant and growing. In 2016 Irish exports to the Arab markets in the UAE and abroad is estimated at €4.3 billion, and growing, at the expense of regular direct contacts between the two countries from the likes of Emirates and Etihad opponent.

As it stands, 250 Irish companies through financial technology, ICT, engineering, science, space, education and premium products – exports to the UAE alone.

And with the economic report prepared by the Arab-Irish trade predicting that the Irish exports to the Arab markets will reach in the next two decades, €9bn camera, Dublin will host a conference aimed at opening new markets for exporters.

Arab-Irish business forum in Dublin’s mansion house on 3 October, will be presented and discussed countries that offer the best bets for Irish businesses; first-hand tips on how to penetrate these new markets; a look at emerging markets such as Morocco, Egypt and Jordan; and presentations from Irish companies that are doing business in the Arab world, including entrepreneur Paul Kenny.

Other speakers are from a similar nexus group, Neom, Monojo biotech, Transguard Group, data flow and nest box egg company.

Ahmed Younis, chief Executive of the Arab-Irish chamber of Commerce, believes that the participants can “get the real picture of the speakers who have expanded their activities and who have first hand experience of the Eastern markets, including how they can overcome setbacks or problems when starting”. The event will be held at the Arab-Irish chamber of Commerce Bord Bia, Department of foreign Affairs and trade, Emirates airlines and enterprise Ireland to arabirishbusinessforum.t. E.

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