Al Shehhi discusses stronger business ties between UAE & Germany with CEO of AHK
H.E. Eng. Mohammed Ahmed Bin Abdul Aziz Al Shehhi, Undersecretary of the Ministry of Economy for Economic Affairs, met in Dubai H.E. Felix Neugart, CEO of the German Emirati Joint Council for Industry & Commerce (AHK). The two sides discussed methods to strengthen the economic relations of their countries and pursue chances for the development of collaborations in between their business communities.
The Undersecretary stated that the relations between the UAE and the Federal Republic of Germany have grown more powerful over the past couple of years, noting that the UAE has become Germany's largest trading partner in the Arab region, representing 25 percent of the total volume of trade in between Arab nations and Germany which stood at EUR 52 billion in 2015. He discussed that Germany is the sixth biggest trading partner of the UAE.
He likewise specified that foreign non-oil trade in between the two countries in 2015 grew by 3 percent from the previous year to reach about USD 15.5 billion.
Al Shehhi noted too Germany's sophisticated financial position as the biggest economy in Europe and among the world's most industrialized countries, pointing to its supremacy in the fields of science, research study and innovation. He explained that the keenness of the UAE to diversify the national economy, establish its non-oil sectors and uplift the function of the private sector opens broad prospects for the exchange of experiences and the promotion of financial investments in several locations. He especially referred to partnerships in advanced markets, support for little and medium business, encouragement of development, and the promotion of investment in tourism, air and sea transport, renewable energy, water desalination, infrastructure, health, and education, among others.
For his part, H.E. Neugart said that Germany and the UAE continue to establish excellent bilateral ties and that the Emirates leads Germany's relations with the Arab region. Neugart applauded the economic diversity achieved by the UAE and its capability to continue to grow despite international financial challenges and declining oil prices.
The German Emirati Joint Council for Industry & Commerce (AHK) was founded in 2009 as a quasi-government organization and part of the German Industry & Commerce Office. It runs 130 workplaces in 90 countries and offers German and Emirati business a platform for successfully exchanging experiences and building partnerships. AHK likewise offers details and facilitates network relationships to support cooperative bilateral trade.
