The market, which is expected to post over Dh100 billion in sales through more than 30,000 transactions in first quarter, will sustain steady increase in transactions and prices throughout the year
The undersecretary said the UAE has become Germany's largest trading partner in the Arab region, accounting for 25 per cent of the total volume of trade between Arab countries and Germany which stood at ?52 billion in 2015. He mentioned that Germany is the UAE's sixth largest trading partner.
He said non-oil trade between the two countries in 2015 grew by three per cent from the previous year to reach about $15.5 billion.
Al Shehhi noted Germany's advanced economic position as the largest economy in Europe and one of the world's most industrialised countries, pointing to its superiority in the fields of science, research and technology. He explained the UAE's keenness to diversify the national economy, develop its non-oil sectors and uplift the role of the private sector opens broad prospects for the exchange of experiences and the promotion of investments in several areas.
He referred to partnerships in advanced industries, support for small and medium enterprises, encouragement of innovation and the promotion of investment in tourism, air and sea transport, renewable energy, water desalination, infrastructure, health and education, among others.
Neugart said that Germany and the UAE continue to develop excellent bilateral ties. Neugart praised the economic diversification achieved by the UAE and its ability to continue to grow despite global economic challenges and declining oil prices. The German-Emirati Joint Council for Industry & Commerce was founded in 2009 as a quasi-government organiszation and part of the German Industry and Commerce Office. It operates 130 offices in 90 countries and provides German and Emirati companies a platform for effectively exchanging experiences and building partnerships.
- business@khaleejtimes.com
The market, which is expected to post over Dh100 billion in sales through more than 30,000 transactions in first quarter, will sustain steady increase in transactions and prices throughout the year
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