UAE and Germany Strengthen Economic Ties at UAE-German Business Forum in Abu Dhabi

UAE and Germany Strengthen Economic Ties at UAE-German Business Forum in Abu Dhabi

Abu Dhabi, The Gulf Observer: The United Arab Emirates and Germany solidified their long-standing economic partnership today at the UAE-German Business Forum held at the Abu Dhabi Global Market (ADGM). The forum, which brought together senior government officials, industry leaders, and private sector representatives from both countries, focused on exploring opportunities for further collaboration across key strategic sectors.

The event was attended by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Dr. Jörg Kukies, Germany’s Minister of Finance, alongside top diplomats such as Ahmed Alattar, UAE Ambassador to Germany, and Alexander Schönfelder, German Ambassador to the UAE.

In his opening remarks, Dr. Al Zeyoudi emphasized the significance of the UAE-Germany economic relationship, highlighting that non-oil trade between the two countries reached US$13.8 billion in 2024, a 5.4% increase from the previous year. He stressed the UAE’s growing role as a gateway to high-growth markets and noted the potential for increased collaboration in renewable energy, Industry 4.0, advanced manufacturing, and logistics.

Dr. Kukies reaffirmed Germany’s commitment to deepening trade and investment ties with the UAE, particularly in advanced technology, clean energy, and sustainable investments. He emphasized that the ongoing global transition toward green energy and digital transformation presents significant opportunities for collaboration between the two nations.

Discussions at the forum centered on enhancing cooperation in clean energy, finance, and industrial technology, with a particular focus on sustainability. A key highlight was the progress made under the Energy Security and Industry Accelerator Agreement, which has already facilitated investments in low-carbon ammonia, LNG, and renewable energy projects, including Masdar’s involvement in the Baltic Eagle offshore wind farm in Germany.

The forum also addressed Germany’s increasing investment in the UAE’s advanced technology and AI sectors, benefiting from the UAE’s NextGen FDI initiative, which supports high-growth companies expanding into the region.

The UAE and Germany’s economic partnership continues to strengthen, with the UAE’s non-oil exports to Germany increasing by 44.7% in 2024, reaching US$616 million. Additionally, re-exports amounted to US$1.1 billion, demonstrating Germany’s critical role in global trade.

The forum concluded with business matchmaking sessions and the signing of several Memorandums of Understanding (MoUs) for joint investments in fintech, digital transformation, and sustainable initiatives. Notable agreements included investments by Germany’s Capital 468 in UAE-based companies such as Alaan, Flow48, and Hydrum Technologies, alongside an expansion by Germany’s ZenAdmin into the UAE’s IT sector.