President Mary McAleese told a group of business leaders in Riyadh today that Irish companies were keen to invest in Saudi Arabia.
She said Saudi Arabia is an important and growing market for Irish exporters, noting Irish exports increased by around 14 per cent last year.
At a business breakfast hosted by Enterprise Ireland, Mrs McAleese said there was "substantial potential for accelerated trade growth in the years ahead".
She referred to the potential market for Irish firms in banking, telecoms, construction, engineering and IT - particularly software.
One of the purposes of the president's week-long visit was "to raise the profile of Ireland as an attractive trading partner for Saudi Arabia," she continued.
"As an entrepreneurial people we see opportunities for Irish companies in Saudi Arabia across many sectors and there has been very significant recent progress in terms of our actively seeking out new business.
"We also see opportunities in partnering with Saudi companies and sharing their expertise, relationships and international market access strategies," she said.
Despite controversy over Muslim reaction to the European media's depiction of Muhammad worldwide, Mrs McAleese did not shy away yesterday from encouraging Saudis to adopt a more liberal attitude to women.
She earned stirring applause from the female section of the audience at an economic forum in Jeddah after noting "the prophet's [Muhammad] first wife, Aisha, was herself a very successful businesswoman."
Women had played a key role in the workforce, in transforming the Irish economy, and Saudi Arabia could learn from that experience, she said.
She returned to the subject of cultural differences again today saying the mutual benefit of improved trade and commercial links was not just economic.
"As a people of welcome and of commitment to deepening friendships among the world's family of nations . . . we do not forget that, in doing more business with Saudi Arabia, we are also building up the networks of mutual understanding and respect which help promote peace, goodwill and global neighbourliness."