UAE, Germany set to ramp up trade ties
Date
5/29/2016 11:48:18 PM
(MENAFN- Khaleej Times) Sultan bin Saeed Al Mansouri, UAE Minister of Economy, has stressed the importance of boosting cooperation between the UAE and Germany in the aviation sector.
Al Mansouri said such cooperation would drive both countries' commercial relations forward and provide greater access for new markets as both countries enjoy strategic locations. Trade between the UAE and Germany touched Dh57 billion in 2015.
Al Mansouri made his remarks during a meeting with Dr Peter Ramsauer, a member of the German Parliament and president of the Arab-German Chamber of Commerce and Industry, on the sidelines of the Arab-German Business Forum held in Berlin.
Al Mansouri highlighted the importance of pushing UAE-German cooperation forward to cement their economic ties as both sides have a number of sectors of mutual interest, including start-ups and medium businesses.
Al Mansouri pointed out that the UAE seeks to boost cooperation with Germany in the industrial sector as well and benefit from Germany's expertise as part of efforts to attract unique industrial investments that would contribute to the national economy.
He added that the Arab-German Business Forum has been given a great opportunity to upgrade cooperation between Arab businesspeople and their German counterparts.
Calling on Germany to send more economic delegations to the UAE, Al Mansouri stressed the importance of participating in economic events organised by both sides in order to gain a clearer understanding of available investment opportunities.
Marwan bin Jasem Al Sarkal, CEO of Sharjah Investment and Development Authority, or Shurooq, said: "Shurooq's participation in the forum comes in line with its efforts to expand economic cooperation with Germany and aims to give the German businessmen ideas about the most important investment sectors in Sharjah and its facilities to investors."
During the two-day forum, Shurooq delivered a presentation illustrating investment opportunities available in Sharjah and how they positively affect tourism, the environment, transportation and logistics services.
Al Sarkal said Germany is an important economic partner for Sharjah as it plays a large role in developing partnerships and investments with other European countries. Germany accounts for 13.5 per cent of Sharjah's exports and re-export of non-oil products to Europe.
Dr Hamid Al Suwaidi, deputy CEO of the National Bank of Abu Dhabi in the Gulf and Africa region, said the bank will play a pivotal role in supporting the UAE's commercial and investment relations with other countries.
Al Suwaidi pointed out that the forum represented a dynamic platform that brought together many company directors and businessmen to discuss all available investment opportunities. - Wam
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