Abu Dhabi on June 6
The session of bilateral talks between the Emirate of Abu Dhabi and Germany was headed by H.E. Nasser Ahmed Al Suwaidi, Chairman of the Department of Economic(DED) which was held today in Abu Dhabi and gathering number of senior officials in the emirate of Abu Dhabi with a senior delegation of Germany under the chairmanship of H.E Guido Pfister Welle, German parliament member of the Federal and Minister of Foreign Affairs of the Federal Republic of Germany. During the meeting, the economic relations between the Emirate of Abu Dhabi and the Federal Republic of Germany was discussed in order to strengthen and enhance this relation, especially in the areas of investment, industrial, energy, trade and other projects to contribute to open up wider prospects of joint cooperation between the two sides.
H.E. Nasser Al Suwaidi said In his introducary speech that distinctly dynamic relations between Germany and UAE, are attributed greatly to the sincere desire of top officials in both sides, to constantly promote and deepen mutual ties. This fact is clearly underscored by the reciprocal high delegations formal and regular visits, where today’s gathering is the latest proof.His Excellency mentioned that recent indicators show that UAE is Germany’s most important export market in the Arab world in general and among GCC countries in particular. H.E Guido Pfister Welle, German parliament member of the Federal and Minister of Foreign Affairs of the Federal Republic of Germany expressed the hope that this meeting would achieve its designed objectives to enhance communication between the governments of Abu Dhabi and Germany, thus creating new opportunities for investment and prospects of joint action in many areas.The Similarly exports and investments from the UAE to Germany are showing steady progress, where non-oil trade figures between the UAE and Germany reached $6.8 billion during the period Jan-Oct 2011. Meanwhile, non-oil trade figures between Abu Dhabi and Germany increased by 6.5% over the last year, to reach $2.7 billion in 2011 compared with $2.4 billion in 2010. That based upon UAE’s firm fundamentals, it is clear that the country stands as a promising hub for investments and partnerships, stimulated particularly by its reliable infrastructure, business-friendly environment and a dynamic economy, which successfully qualified UAE to climb 12 rankings to capture the 16th position globally as one of the world’s leading competitive nations, according to the 2012 World Competitiveness Yearbook (WCY) rankings launched by the IMD. That recent statistics show that non-oil GDP captured 50.3% of the emirate’s total GDP, while oil GDP accounted for 49.7% in 2010. A target to be reached by 2015 according to our Economic Vision 2030, which validates the balanced approach being followed by the Emirate.