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29 March 2024

UAE key Arab market for Germany

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By Staff

The UAE was the largest Arab market for German products in 2012 with its imports from the that country accounting for nearly a third of the total Arab imports from the European industrial giant, official data showed on Monday.

Imports of goods by the Arab countries from Germany totalled around €33.7 billion (Dh158bn) in 2012 while their exports to that nation peaked at around €15.3bn (Dh72bn), showed the figures by the Saudi-based federation of the GCC chambers of commerce and industry (FGCCI).
 
UAE’s imports from Germany were estimated around €9.77bn while Saudi Arabia came second, with imports of about 8€.2bn.
 
“The UAE was the largest importer from Germany in the Arab world, followed by Saudi Arabia,” FGCCI Chairman Khalil Khanji said in a statement ahead of an Arab-German business conference, opening in Berlin on Wednesday.
 
“The Arab World’s economic and commercial links have steadily expanded over the past years…two-way trade between the two sides surged by 22 per cent in 2012.”
 
His figures showed that trade totaled around €49bn in 2012, making Germany one of the largest commercial partners of the region. The figures showed Germany’s imports from the Arab World soared by 32.6 per cent in 2012.
 
Khanji said more than 800 officials and businessmen from the Arab nations and Germany would attend the June 12-14conference, which will cover ways to expand trade and investment between the two sides.
 
“Arab states, mainly those in the Gulf, are seeking to bolster relations with Germany in various fields in the wake of the 2008 global fiscal crisis,” he said.