Sara Assmann’s Post

📣Enterprise Ireland client exports to the UAE are +22% in FY22. With the roll out of the Dubai Economic strategy D33, there's plenty of opportunity for Irish firms on the horizon. 🔎Key insights include: 📌 Double the size of Dubai economy over next decade. 🌆Position Dubai as a top 3 global cities. 🔝Increase FDI to a total of AED 650 billion. ⬆️Increase government expenditures to AED 700 billion. 📈Increase private sector investments to AED 1 trillion. 🤝Ease of doing business Index ranked 16th globally. Overall, these insights suggest a favorable environment for Irish exporters in #Dubai, with significant growth opportunities supported by the Dubai Economic Strategy D33 and strategic partnerships with local entities like Dubai Chamber of Commerce. https://lnkd.in/dk5D99Jt

🇸🇦🇰🇷At the Saudi-Korean Business Forum in Seoul, companies from Saudi Arabia and South Korea inked 10 agreements across construction, energy, health, sustainability, and food sectors. Attended by Saudi Minister of Commerce Majid Al-Qasabi, the forum saw over 400 participants from both public and private sectors. Key highlights: 🔹10 new agreements enhancing collaboration in sectors like automotive, urban infrastructure, and data centers. 🔹Bilateral trade volume between the countries reached $35 billion from 2019 to 2023. 🔹174 commercial registrations for Korean companies in Saudi Arabia issued up to April. 🔹An initiative to establish a Saudi business office in Seoul and launch a trilingual electronic portal for investment opportunities. 🔹Emphasis on enhancing partnerships between small and medium-sized enterprises. The forum, organized by the National Competitiveness Center, Saudi Chambers Federation, and Korean Chamber of Commerce and Industry, featured discussions on innovation, technology, advanced manufacturing, and infrastructure, aiming to strengthen economic ties and explore new opportunities. #SaudiKorea #BusinessForum #EconomicGrowth #TradeRelations #Innovation #Sustainability #InvestmentOpportunities

Our team in #KSA is extremely hard at work supporting companies and organizations accessing the opportunities in #SaudiArabia. Working with Hasan Yazjeen to help a US-based company with General Manager services in order to #incorporate and operationalize their presence there. #governance #marketentry

🇸🇦Saudi Arabia is making strides towards economic diversification under Vision 2030, allowing 100% foreign ownership in most business sectors. At the forum in Seoul, Commerce Minister Dr. Majid Al-Qasabi and Vice Minister Dr. Eman Al-Mutairi highlighted the strategic trade relations with Korea and significant reforms to boost the Kingdom’s competitiveness. With $35 billion in trade from 2019-2023 and 174 commercial records issued to Korean companies, the partnership is flourishing. Key sectors like automotive, shipbuilding, AI, data centers, and smart cities are seeing increased collaboration. The Saudi Business Center has streamlined business licensing by 55%, and 820 economic reforms have been implemented since 2016. The forum also featured dialogue sessions on innovation, technology, and advanced manufacturing, leading to the signing of nine agreements. These efforts underscore Saudi Arabia’s commitment to fostering sustainable and inclusive growth and enhancing international investment. #EconomicGrowth #SaudiKoreanPartnership #Vision2030 #InternationalTrade #Innovation #InvestmentOpportunities

📣 Kemi Badenoch is in Turkey to bolster trade ties ahead of the launch of negotiations for an upgraded free trade agreement ✅ The visit comes as the UK sets its sights on a wave of services-focused trade deals with Turkey, the GCC, Switzerland and South Korea. A modernised FTA fit for the 21st century and focused on services could bring opportunities to substantially boost trade, help businesses across the UK expand overseas and grow the economy. And it’s not just services. The Business and Trade Secretary is also expected to sign a UK-Turkey Memorandum of Understanding on third-country collaboration and announce Turkey as a priority country under the UK’s International Science Partnership Fund (ISPF). While in the country, she will also visit Turkish Airlines, following its recent deal with Airbus and Rolls-Royce, worth billions to the UK economy. Swipe to see the growing strength of the UK-Turkey trading relationship 👇 And read more: https://lnkd.in/eCMnagR2

On the value of investment abroad in increasing the resilience and growth of businesses...

Luigi Di Maio, the EU’s special representative to the Gulf region, said that more than 350 European companies have been licensed to relocate their regional headquarters to Riyadh. The Saudi government aims to attract 480 companies to open regional headquarters by 2030. Combined trade in goods and services between EU and KSA amounts to 88 billion euros. 80% of this consists of merchandise trade. According to the European Commission, more than 1,300 European companies invest in Saudi Arabia and operate in a wide range of sectors. These sectors include energy, manufacturing, transportation, infrastructure, and others. He also added that approximately 25,000 citizens from the 27 EU countries reside in Saudi Arabia. #EuropeanUnion #SaudiArabia #Vision2030 https://lnkd.in/dJ_4E2Tu

🌍 Exciting Developments in China-UAE Trade and Investment! 🚀 China and the UAE have deepened their commercial partnership, with significant progress in bilateral investments and trade. Key highlights include: 1️⃣ Strategic Partnerships: The UAE fully supports China's Belt and Road Initiative, leading to collaborative projects like the Dubai Traders Market and the China-UAE Industrial Capacity Cooperation Demonstration Zone. 2️⃣ Bilateral Trade Surge: Trade between China and the UAE exceeded US$75.6 billion in 2021, with significant growth in Chinese exports to the UAE, particularly in energy, infrastructure, and FinTech. 3️⃣ Investment Momentum: China's COSCO Shipping Limited has chosen Khalifa Port as its Middle East hub, enhancing investment prospects. FDI into the UAE has seen a notable increase, with China's direct investment surging. 4️⃣ Cross-Border Agreements: Both countries are exploring joint ventures and investments, especially in free trade zones and financial services, with collaboration extending to science, technology, and education. The UAE's Role in the BRI: 🔗 Positioned as a strategic partner in the Belt and Road Initiative, the UAE serves as a vital commercial hub linking Europe, Asia, and Africa, with significant investments in infrastructure. Active Projects: 📈 Initiatives like the Dubai Traders Market and the China-UAE Industrial Capacity Cooperation Demonstration Zone highlight tangible outcomes of China-UAE collaboration, promoting trade facilitation and economic diversification. Opportunities abound for businesses and investors as China and the UAE deepen their economic ties, shaping the future of trade and investment in the Middle East and beyond. Let's seize these opportunities for mutual prosperity! 💼✨ #ChinaUAE #BilateralTrade #Investment #BeltAndRoadInitiative #BusinessOpportunities

Exciting Developments to Boost UK-Turkiye Trade Relations! 🇬🇧🤝🇹🇷 As the collaboration between the UK and Turkiye flourishes, Fladgate LLP with its dedicated Turkiye desk remains committed to facilitating and supporting your business ventures. Whether it's investing in the UK or navigating English law governed matters, we are here to make your journey smooth and successful. #Fladgate LLP#UKTurkeyTrade#Ravi Goonesena #Cem Usten

That will create a momentum of cooperations in Clean Enegy sector as well..