Ministry of Economy Discusses Stronger Economic Cooperation with Germany During Meeting on Sidelines of Hannover Messe
H.E. Abdullah Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade and Industry, went over ways to additional create financial and trade relationships with Germany during a conference with H.E. Frank Horch, Minister of Economy, Transportation and Innovation of the Government of Hamburg, Germany, on the sidelines of the 2017 Hannover Messe International Industrial event in Germany.
The conference was gone to by H.E. Abdullah Al Mandoos, the UAE's Deputy Ambassador in Germany; H.E. Mr. David Arc Lab, Chairman of the Economic Board of Hamburg; Mr. Mohammed Nasser Al Zaabi, Director of the Trade Promotion and Investment Division at the Ministry of Economic situation; Mr. Ahmed Bin Ghannam, Executive Director of International Relations at the Abu Dhabi Department of Economic Development; Mr. Ahmed Al Blushi, Director General of the Abu Dhabi Industrial Growth Bureau; and participants of the Hamburg City Council.
The group reviewed collaboration between the UAE and the city of Hamburg in the areas of trade, business production and financial investment exchange, with a concentrate on offered possibilities for improving cooperative structures in transport, air travel and ports, and industrial tasks. The two sides additionally highlighted their typical desire to establish mechanisms for strengthening the exchange of experiences in innovation, clinical research and entrepreneurship.
H.E. Al Saleh, stated that the UAE and the Republic of Germany delight in expanding bilateral connections in all degrees. He noted that the UAE is Germany's top trading partner in the region, with their complete trade quantity reaching USD 15.5 billion in 2015 and virtually USD 11 billion by the end of the third quarter of 2016.
The Undersecretary added that as the UAE develops key private sectors according to UAE Vision 2021, there will be numerous possibilities to advance financial and trade relationships between the two nations, specifically in regards to teamwork in the areas of transportation and renewable energy.
For his part, H.E. Horch affirmed that the UAE is Germany's biggest trading partner in the region and stands for among the largest trade allies of Hamburg. He shared the desire to enhance participation in vital economic fields - including tourism cooperation which he said must be taken common benefit of thinking about just how their countries are concerned among the world's ideal tourist destinations.
H.E. Horch added that Hamburg is just one of the biggest logistics centers in Europe, boasting a strong framework and critical geographic place. This, he stated, opens up locations for boosting trade and financial participation with the UAE and bring in even more UAE investments right into the city which serves as a portal to various other rewarding European markets.
