Arab Bank sets up German desk in Dubai, Abu Dhabi

DUBAI - Arab Bank, the leading Arab financial institution, has set up a dedicated 'German Desk' in Dubai and Abu Dhabi to tap potential for further trade between Germany and the United Arab Emirates.

By A Staff Reporter

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Published: Wed 21 Apr 2004, 12:17 PM

Last updated: Wed 1 Apr 2015, 11:52 PM

This initiative comes in the wake of a doubling of German exports to the UAE in the last three years. According to recent statistics, German exports to the UAE rose to Euro 3.2 billion in 2003, from Euro 1.8 billion in 2000, making Germany one of the top three countries exporting to the UAE.

Mohammed Azab, UAE Area Manager, Dubai, Arab Bank, said: "Trade relations between Germany and the UAE have witnessed an upswing in recent years, and we believe that there are vast opportunities ahead, according to feedback provided by our Frankfurt office. Several German companies are in need of reliable information and consultancy to launch or expand their operations in the UAE.

"Arab Bank, with its local market insight, global network, and presence in several European countries, is the ideal partner for a German company to penetrate the UAE market."

According to market studies, around 350 German companies are operating in the Middle East from the UAE, primarily registered in Jebel Ali Free Zone. Most of these companies are engaged in automotive, electrical engineering and engine construction business.

Azab said: "With a large network of branches in the Arab world, as well as across the globe, Arab Bank is well placed to serve German companies and enable quick transactions. Having worked closely with several German companies, we understand their needs better.

"Companies that come to us can complete all the necessary formalities and procedures under a single roof, with the assurance of constant support from a team of Arab Bank professionals with tremendous experience in the relevant fields."

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