UAE and Germany to focus on strengthening sustainable economic growth & More News Here

The UAE and Germany have held talks on boosting bilateral and commerce relations, discussing co-operation in numerous economic sectors that may mutually profit the 2 nations.

The talks have been held throughout a go to to Berlin by a high-level UAE delegation led by Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, who mentioned co-operation within the sectors mentioned will contribute to sustainable economic growth, state information company Wam reported on Tuesday.

Robert Habeck, Germany’s vice chancellor and financial system minister, hosted the delegation.

Among the sectors underneath dialogue have been vitality — particularly wind and photo voltaic — superior industries, synthetic intelligence, infrastructure, tourism and agriculture, in addition to “other promising areas”.

“The UAE leadership is keen to strengthen bilateral relations with the Republic of Germany and is exploring opportunities for co-operation and joint investment in vital areas,” the report quoted Dr Al Jaber as saying.

The UAE is Germany’s greatest buying and selling companion within the Middle East, on par with Saudi Arabia, and the 2 international locations have “intensive diplomatic relations”, Germany’s Federal Foreign Office mentioned.

A strategic partnership was agreed upon in April 2004 and was bolstered in June 2019 throughout a go to to Germany by Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces.

Trade between the 2 international locations has constantly grown up to now 25 years. UAE exports to Germany rose to $1.1 billion in 2020 from $125 million in 1995 at an annualised price of about 9.2 per cent, knowledge from the Observatory of Economic Complexity confirmed.

The foremost exports have been uncooked aluminium ($338m), plane elements ($84.5m) and spark-ignition engines ($84.3m).

Correspondingly, German exports to the UAE throughout the identical interval elevated to $7.8bn in 2020 from $1.4bn in 1995 at a price of about 7 per cent, with planes, helicopters and spacecraft ($1.35bn), automobiles ($762 million) and packaged medicines ($354m) as the principle exports, the observatory mentioned.

In March, numerous German corporations, led by Mr Habeck, signed agreements with UAE companies to assist Germany’s long-term vitality necessities.

The nation is working to cut back its reliance on Russian vitality as a part of western efforts to strain Moscow over its navy offensive in Ukraine.

During the assembly in Berlin, Dr Al Jaber and Mr Habeck held conferences with German authorities officers and chief executives of main German corporations to talk about additional co-operation between the 2 international locations.

The two sides mentioned the UAE’s preparations to host the twenty eighth Conference of the Parties in 2023, plus persevering with efforts to handle local weather change. The UAE was named the host of Cop28 throughout final 12 months’s occasion in Glasgow.

Updated: May 10, 2022, 3:24 PM

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