Irish exporters must adopt new strategic approaches to market diversification, logistics and risk management if they are to successfully navigate an increasingly uncertain global trading environment, delegates at an Arab Irish Chamber of Commerce (AICC) business briefing heard this week.
The AICC brought together Irish exporters and business leaders doing business in or with the Middle East, for a candid forum discussion examining the implications of the ongoing conflict and wider geopolitical instability for Irish companies operating internationally.

Arab Irish Chamber strategic briefing on Middle East

The event provided practical insights for businesses seeking to understand both the challenges and opportunities for Irish companies seeking to navigate international markets in the face of ongoing geopolitical tensions and upheaval. Attendees also heard how demand for Irish products across the Middle East remains resilient despite disruption to trade routes and supply chains.
Staying the Course
Speaking at the event Doing Business in a Time of Geopolitical Uncertainty, Ahmad Younis CEO of the AICC said: “The demand for Irish goods across the region remains strong despite the conflict, but Irish exporters are having to work harder than ever to get products into Middle Eastern markets, and they need support to do so.
“Some companies have understandably paused activity or explored alternative markets, but many others have chosen to stay the course, supported by strong customer relationships, hard-won contracts and confidence in the region’s long-term economic fundamentals.
“Demand for Irish goods is not disappearing. The challenge now is ensuring Irish businesses, particularly SMEs, have the strategy, market intelligence and support required to protect and grow their international business.”
Inflationary Pressure on Irish Exporters
Speaking at the event Martin O’Brien, Head of Monetary Division and Interim Head of Irish Economic Analysis Division at the Central Bank of Ireland outlined the potential impact of the conflict on Ireland’s economic outlook, including risks to Irish and European growth, implications for export demand across international markets, and the effects of currency fluctuations and interest rates.
He also highlighted inflationary pressures and challenges to supply chains arising from disruption to shipping routes through the Strait of Hormuz and reflected on experience from previous geopolitical and economic crises saying: “Geopolitical tensions are creating challenges for global trade, with the resulting rise in costs for energy and other commodities filtering through to businesses and households in Ireland.
However, the Irish economy entered this period from a place of relative resilience, and businesses have shown adaptability and capacity to innovate during such shocks previously.”
Other speakers, all of whom continue to do business within the region and brought their unique insights to the forum were:

Jim Healy, CEO of Nulumentek which specialises in energy-efficient lighting design and supply with operations across the Middle East: “Businesses cannot control geopolitical events, but they can control how they respond to them. Companies that stay agile, diversify risk and remain focused on customer needs will be best positioned to succeed, particularly in markets that continue to invest and grow despite global uncertainty,” he said.

Michael Connolly, Kilkenny businessman and entrepreneur who has worked in the Middle East since 2007, and now lives in UAE, has built several highly successful global businesses in the agri and equine nutrition sector and commented: “The war will end, but relationships won’t: the businesses that will succeed after the current crisis are the ones that show integrity, stay loyal to their customers, understand local culture and don’t disappear when things become difficult. Trust and consistency matter far more than short-term challenges.”

Edward O’Regan of Blackwater Partners, a company that specialises in guiding entrepreneurs and corporations into the UAE market with tailored solutions, said: “The long-term outlook across much of the Middle East remains positive. Many countries continue to invest heavily in economic growth and diversification, creating opportunities for Irish businesses that are willing to take a long-term view and remain engaged in the market.”

Desmond Hurley, Business Development Manager at Lakeland Dairies Food Ingredients, who has been at the forefront of Ireland’s dairy business for decades, added: “The Middle East remains an important market for Irish dairy products because customers value quality and reliability. Despite the challenges, demand remains strong and our experience shows that maintaining trusted customer relationships during difficult periods is what delivers long-term success.”

Concluding, Ahmad Younis said: “Periods of uncertainty often force businesses to think differently. The companies that continue investing in relationships, market intelligence and diversification today will be best placed to benefit from the significant opportunities that remain across the Arab world tomorrow.”
For more information visit aicc.ie.
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