The Africa Ireland Economic Forum 2016, a view from Abuja

The Africa Ireland Economic Forum 2016 took place on Friday 17 June and placed a particular focus on Nigeria and West Africa, particularly in sectors such as aviation. The Chairman of the largest Nigerian Airline, Arik Air, and the Nigerian Minister of Aviation, Senator Hadi Sikika, were among the most high profile African attendees.

The Africa Ireland Economic Forum (AIEF) is an annual event that started in 2011, bringing together diverse stakeholders from the African continent and Ireland to discuss opportunities for enhancing economic cooperation between both parties. The forum is organised by the Department of Foreign Affairs and Trade, the African Embassies in Ireland, the private sector, and other Irish state agencies.

The fifth edition took place on June 17, 2016, with over 300 participants in attendance from across the spectrum, ranging from the private sector, policy makers, business sector to civil society. The Economic Forum is a flagship event of the Department’s Africa Strategy.

For the first time in the event’s nascent history, Nigeria, Africa’s largest economy and most populous nation was represented by a high-level government Minister, Senator Hadi Sirika, Minister of State for Aviation. While highlighting the current administration’s resolve under President Muhammadu Buhari to create an enabling environment for investors, the Minister underscored the limitless opportunities that abound in the country, particularly in the aviation and agricultural sectors.

Other high level speakers from the region at the event were Mr Charles Boamah, a Ghanaian national and Vice President of the African Development Bank, Sir Joseph Arumemi-Ikhide, Chairman of Nigeria's largest airline Arik Air, and Dr Nelson Magbagbeola, a Nigerian national who is Secretary General of the Parliament of the Economic Community of West African States.

This year’s Economic Forum focused on the following sectors: aviation and aerospace, energy and clean technology, and agri-business. These sectors that took centre stage in discussions during the conference were selected because of the enormous potential they have to contribute to sustainable economic development in Africa and also because of Irish expertise in these fields.

Also present at the event, which was well attended by top government functionaries from Ireland included the following: Mr. Joe McHugh T.D., Minister of State for the Diaspora and International Development, Andrew Doyle T.D., Minister of State for Food, Forestry and Horticulture, and Ms. Mary Mitchell O’Connor, Minister of Jobs, Enterprise and Innovation.

In her opening remarks, the Minister of Jobs, Enterprise and Innovation, Ms. Mary Mitchell O’connor showcased how the forum has broadened Ireland’s relations with countries in Africa in terms of trade and said:
“Since the first Forum was held in 2011, merchandise trade with Africa has grown strongly, from €1.7 billion in 2010 to €2.3 billion in 2015. The Enterprise Ireland strategy for the Africa region envisages a growth in Irish-owned exports to the Africa region from €550 million in 2014 to €1 billion in 2018.”

Preceding the Economic Forum on June 16, 2016 was the launching of Business Ireland Africa that aims to foster networking opportunities and relationships in Africa with the theme: “Strengthening the commercial relationship between Ireland and Africa.”

The forum highlighted the high potential in areas of mutual interest to Ireland and Africa which can be harnessed to develop mutual trade to the benefit of Irish and African business alike.