Ireland looks to Arab countries as emerging market

Your business this week: Arab-Irish Business Forum takes place in Dublin

The Pyramids of Giza on the southwestern outskirts of the Egyptian capital Cairo. File photograph: AFP/Getty Images)

The Pyramids of Giza on the southwestern outskirts of the Egyptian capital Cairo. File photograph: AFP/Getty Images)

 

Monday

Indicators: Irish manufacturing PMI (Sep); Euro zone manufacturing PMI (Sep), unemployment (Aug); UK consumer credit (Aug), net lending to individuals (Aug), mortgage lending (Aug), manufacturing PMI (Sep); German retail sales (Aug), manufacturing PMI (Sep); US manufacturing PMI (Sep), construction spending (Aug).

Meetings: UpStarter tech recruitment event (Mansion House, Dublin 2); EMU Reform and the Proposed European Monetary Fund: Essentials, Expectations and Beyond talk (Institute of International and European Affairs, North Great George’s St, Dublin 1).

In a speech on Monday, Heribert Hirte, a member of the German Bundestag, will talk about how the design of a European Monetary Fund will be key to the future of the European economic and monetary union.

Mr Hirte, who is in Germany’s Christian Democratic Union (CDU) party, will be addressing an event on EMU reform and the proposed fund, hosted by the Institute of International and European Affairs (IIEA) in Dublin.

As deputy chair of the Committee on Legal Affairs and Consumer Protection, and as a member of the Committee on Affairs of the European Union, his views will draw some interest.

He will discuss the role of parliaments and argue why a European Preliminary Financing in insolvency proceedings could be an alternative to the introduction of a European Unemployment Scheme.

His ongoing work on a common European Business Law Code will also form part of proceedings.

Mr Hirte’s views will offer a German perspective on transforming the European Stability Mechanism (ESM) into the proposed EMF, a central tenet of the wide-reaching Eurozone reform measures called for by French President Emmanuel Macron and Commission President Jean-Claude Juncker last year.

Tuesday

Results: Ferguson, PepsiCo.

Indicators: Irish unemployment (Sep), exchequer returns (Sep); Euro zone PPI (Aug); UK construction PMI (Sep); US vehicle sales (Sep).

Meetings: IAPF Annual Benefits Conference (Convention Centre Dublin); Predict two day tech conference (RDS, Dublin 4); Irish Association of Pension Funds conference (Convention Centre Dublin).

Wednesday

Indicators: Irish services PMI (Sep); UK services PMI (Sep); Euro zone composite and services PMI (Sep), retail sales (Aug); German composite and services PMI (Sep); US composite and services PMI (Sep).

Meetings: Quest for Quality Conference 2018 (Marker Hotel, Dublin); Arab-Irish Business Forum (Mansion House, Dublin 2): Learnovation conference on innovation in digital age (Croke Park Conference Centre, Dublin 3); Amplitude conference on disruptive innovation (WIT Arena, Carriganore, Co Waterford).

With a no deal Brexit coming into ever sharper focus, discussions of new and emerging markets for Irish business has probably never had such a sense of urgency. That said, ask most members of the business community to name perspective alternatives and few will offer you Morocco or Egypt.

That is perhaps part of the reason for Wednesday’s Arab-Irish Business Forum in Dublin; a chance to discover why these markets are not as far away as they might seem, literally or figuratively.

Irish exports to Arab countries were valued at €4.3 billion in 2016, according to the forum organisers who say the figure is set to grow year-on-year.

It covers several industries including food and drink, a primary potential casualty of Brexit; pharma, fintech, aviation and electronics.

In fact, it quotes an economic report commissioned by the Arab-Irish Chamber of Commerce that these export values will reach €9 billion over the next two decades.

The event is due to be attended by some of over 450 Irish companies already operating in the region and will feature presentations, case studies, panel discussions and Q&A sessions.

Thursday

Indicators: UK car sales (Sep); German construction PMI (Sep); US factory orders (Aug).

Meetings: DisruptHR event on talent acquisition (Arthur Cox offices, Earlsfort Terrace, Dublin 2); Lean Business Ireland Awards for enterprise excellence (Croke Park Conference Centre, Dublin 3).

Friday

Indicators: Irish industrial production (Aug); UK house price index (Sep), labour productivity (Q2); German factory orders (Aug), PPI (Aug); US exports and imports (Aug); US non-farm payrolls (Sep), unemployment (Sep).

Meetings: Abbey AGM (Grand Hotel, Malahide, Co Dublin).

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