Business deals worth €20 million, and possibly well in excess of that figure, are expected from a major Enterprise Ireland trade mission to Saudi Arabia and the United Arab Emirates (UAE) this week led by Taoiseach Bertie Ahern.
A business delegation of 170 representatives of 114 companies and organisations are going to take part in the trade mission, which is one of the largest in recent years.
As well as Mr Ahern, the mission is also being led by the Minister for Enterprise, Trade and Employment, Micheál Martin; the Minister for Education, Mary Hanafin; and the Minister for Agriculture, Mary Coughlan.
Among the sectors being targeted in the trip are telecoms software applications, construction and utilities, healthcare, e-learning and e-government, and third-level education.
There will be discussions also on the issue of Irish beef exports, which have been cut off since the BSE crisis seven years ago.
While no major announcement is expected on this issue, it is hoped that progress can be made on persuading the authorities in the region to increase the age of cattle from which exports are accepted.
Irish exports last year to Saudi Arabia and the UAE were worth €450 million, with food being the largest sector.
Imports from the two countries are negligible. Ireland uses North Sea oil rather than oil from the Arabian Gulf.
During the week Vilicom, a Dublin-based mobile network consultancy set up in 1999 by Colin Cunningham, Paul Donnelly and Oliver Farrell, is to officially open an office in Saudi as part of its plan to build up business in the region.
Two major business breakfasts have been organised by Enterprise Ireland during the trip. One, in Riyadh tomorrow morning, will be attended by 350 people, while another, in Dubai on Thursday morning, is to have 500 attendees.
A number of significant contracts are expected to be announced over the course of the visit.
Representatives from ESB International, Aer Lingus, Fexco (Dick Spring), Parc Aviation, Riverdeep, AIBP International, Global Currency Exchange and Roche Manufacturing are among the participants.
The mission will also include representatives from a total of 23 companies and organisations from Northern Ireland, including such firms as Powerscreen, Tomcat Clinical Systems and Ulster Weavers Apparel.
Enterprise Ireland is targeting the Arab markets as part of its strategy of increasing total Irish exports by €3 billion by the end of this year.
Market liberalisation, pending World Trade Organisation (WTO) membership, and belief in the benefits of freer market economies are contributing to the opening of what were previously closed economies. Saudi Arabia joined the WTO in 2005.
Massive investment programmes are under way into major infrastructural projects in Saudi Arabia and the UAE, as well as into banking, telecoms, education and healthcare.
There will be 24 Irish educational organisations represented on the mission.
There are now 35 Irish companies with offices in the Arab world, compared to two in 2000.
The presence of the Taoiseach and three Government Ministers on the trip will serve to increase Ireland's profile.
During the trip, Mr Ahern will meet the governor of Riyadh, Prince Salman bin Abdul Aziz, a brother of the Saudi king; Sheikh Khalifa bin Zayed Al Nahayan, president of the United Arab Emirates; and Sheikh Mohammed bin Rashid Al-Maktoum, vice president and prime minister of the United Arab Emirates.
