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Business Home > Nation
 
UAE important partner for Germany in Arab region

(Wam) / 1 June 2012

The Sultan bin Zayed’s Culture and Media Centre hosted a seminar under the patronage of Shaikh Sultan bin Zayed Al Nahyan, the President’s Representative and Chairman of the Sultan bin Zayed’s Culture and Media Centre, to mark the forty years of the setting up of diplomatic relations between UAE and Germany entitled “UAE-German Relations....40 years of Friendship and Excellence”.

The seminar was attended among others by Sultan bin Saeed Al Mansouri, UAE Minister of Economy, Dr Anwar Mohammed Gargash, UAE Minister of State for Foreign Affairs and Minister of State for Federal National Council Affairs, Yousef Habib Al Sayegh, director-general of the Centre and Juma Al Kait, the assistant undersecretary for Foreign Trade Affairs at MoFT, Nikolai von Schoepff, Ambassador of Federal Republic of Germany to the UAE, and a number of officials.

Sultan bin Saeed Al Mansouri at a seminar titled UAE-German Relations....40 years of Friendship and Excellence.

Al Mansouri on the occasion stressed the importance of this seminar which highlighted the open policy pursued by the country since the establishment of the Union and even today with all the world countries as UAE has succeeded in strengthening its position as one of the most influential country in the world in the global economy.

He added that the seminar, confirmed  the UAE’s policy of openness and building strategic relationships with other countries of the world.

He pointed out that Germany is enjoying close economic ties with the Arab world, specifically UAE, which is the most important economic partner in the Arab region.

He stated that the German product quality and high technological standards have all contributed to make Germany a strategic partner of the UAE based on the keenness of each of the two countries to deepen economic relations between them, resulting in signing a strategic partnership in April 2004.

Al Mansouri said that as a result of these strong relationships, exports and joint investments have increased and the volume of trade exchange between the two countries in 2011 amounted to €31 billion and now the UAE is one of the most important export markets to Germany in the Arab world. Moreover, the volume of German investment in 2011 reached to €371 million.

The minister reiterated that the developments and economic changes taking place in the world today and specifically in the European financial crisis makes it imperative for the two countries to strengthen joint work frameworks, consolidate efforts and boost cooperation in various fields and sectors in order to meet these economic transformations with high efficiency.

He added that in this context, the UAE is currently working on exploring investment opportunities in various vital sectors in Germany, such as renewable energy and knowledge economy, tourism, Islamic finance, infrastructure, information technology, communications, health, science and advanced technology, training, education and small and medium enterprises.

Meanwhile, the German ambassador in his speech stressed that the UAE is the most important economic partner for Germany as it is considered the first partner in the region and the fourth at the global level.

He also highlighted UAE-German relations in 40 years pointing out that Emirati and German sides are looking forward to more strong relationships as much can be done through constructive cooperation between the two countries.

 

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