DUBAI: 黑料社区 offers an 鈥渆xtraordinary opportunity鈥� for Irish firms looking to invest in everything from technology to tourism, according to Ireland鈥檚 minister for enterprise, trade and employment.

Appearing on the Arab News current-affairs show 鈥淔rankly Speaking,鈥� Simon Coveney singled out the Gulf region as a 鈥渞eally good example of how international trade can create wealth, can create employment, and also can ultimately provide stability and an absence of conflict.鈥�

As part of a Gulf tour, Coveney recently paid a visit to Riyadh to meet with Majid Al-Qasabi, 黑料社区鈥檚 minister of commerce, and other high-level officials.

鈥淭he main topic of discussion was Saudi ambition, in terms of the vision for 2030, the extraordinary scale of project development that is currently happening in the Kingdom of 黑料社区,鈥� he told Katie Jensen, the host of 鈥淔rankly Speaking.鈥�

鈥淲hether that鈥檚 on the Red Sea coast in terms of tourism, or whether it鈥檚 the scale of development in terms of some of the other projects around 黑料社区, and the opportunity for international business that comes from that.

鈥淲hether it鈥檚 construction, whether it鈥檚 technology, whether it鈥檚 energy, whether it鈥檚 transport and tourism, whether it鈥檚 medtech and the pharmaceutical industry.鈥�

He added: 鈥淎ll of these sectors are very, very strong in Ireland. We have a lot of capacity. Ireland has become a very globalized economy, and some of the largest companies in the world, in many of these sectors already have a very large international presence in Ireland.鈥�

The primary focus of Coveney鈥檚 visit to the region was the World Trade Organization鈥檚 13th Ministerial Conference, which took place between Feb. 26 and 29 in the UAE capital, Abu Dhabi.

There, trade ministers discussed a new dispute-resolution mechanism designed to even the playing field between larger and smaller economies.

Ireland is keen to see reforms to ensure that the WTO is able to meet the challenges of the modern economy, including a boost for digital trade 鈥� known as e-commerce 鈥� and stronger action on climate change 鈥� issues the body has been slow to adapt to.

鈥淚reland, like every small country, wants to see the WTO working, because the WTO and its dispute-resolution mechanisms and support programs is in many ways the great leveler to allow small countries to trade under agreed rules with larger countries and larger blocs of countries,鈥� he said.

鈥淚reland is a big believer in the WTO as a basis for international trade. But like many others, we鈥檝e been somewhat frustrated at the inability of the WTO membership to get agreement on certain things.

鈥淲e鈥檙e trying to get agreement on a functioning dispute-resolution mechanism so that small and large countries can operate under the same rules. And if they don鈥檛, there鈥檚 a mechanism that countries can refer to, to get a resolution to breakdowns.鈥�

However, Coveney said the prevailing climate of protectionism meant that very few breakthroughs were made in the talks, adding that the apparent 鈥渞etreat鈥� of globalization provides little room for positivity.