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29 November 2023

UAE and Bavarian team explore trade ties

By Agencies



A joint UAE-Germany economic committee that meets every year to bolster trade relations represents the deep economic and commercial ties between the countries, said Minister of Foreign Trade Sheikha Lubna Al Qasimi.

She made the comments during a meeting with a business delegation led by Prime Minister of Bavaria Dr Günther Beckstein, adding that German exports to the UAE have risen by 24 per cent annually. They currently form around 7.5 per cent of the UAE’s total imports, while exports from the UAE make up two per cent of Germany’s imports.

The minister emphasised the close relationship between the countries, noting that more than 500,000 German tourists visited the UAE last year. The number of daily flights from the UAE to Germany and vice versa is also on the rise. Both Emirates airline and Etihad Airways operate direct flights to many German cities and Lufthansa has daily flights to the UAE.

Tourism co-operation between the countries has huge potential, said Al Qasimi, as the UAE is considered the world’s best winter destination for its moderate temperatures between November and April, and Germany is one of the most beautiful summer resorts.

Bavaria, in particular, is a popular destination for UAE nationals, Al Qasimi said, as many travel there for medical treatment. In this scenario, she told Beckstein that co-operation in the medical sector could be mutually beneficial. She cited the example of American establishments opening branches in the UAE, including Cleveland Clinic and Johns Hopkins. 

She called on the visiting German delegation to establish joint ventures and help transfer modern German technology. She also highlighted German expertise in renewable and clean energy, suggesting it would be a good sector for co-operation.

On his part, Beckstein said UAE-German ties are very important and are improving every year. He said both countries stand to gain from improving economic ties.

The main reason behind the visit by the Bavarian state delegation, which includes heads of international and German companies with branches in the UAE, is pushing the UAE-German economic relations forward, he said. (Wam)



Bavaria to set up technology centre in UAE


The Prime Minister of Bavaria has said the German state is ready to transfer advanced technology to the UAE with the exception of defence equipment.

And Dr Günther Beckstein told the news agency Wam he had proposed setting up a German museum of science and industrial technology in Abu Dhabi during talks with UAE officials. The centre would be identical to Munich’s science and technology museum.

Beckstein said he looked forward to more joint investment projects between the UAE and Bavaria in the areas of real estate, tourism and industrial projects. Large Bavarian firms also expressed interest in setting up projects in Abu Dhabi and Dubai during the visit.

“The UAE is an important trade partner of Bavaria and an important re-export centre for German products,” Beckstein said.  

“The UAE and Germany are strategic partners. Germany has become an attractive investment centre, especially in the industrial sector, infrastructure projects, information technology and telecommunications.”

Beckstein said Bavaria’s exports to the UAE had grown by 10 per cent annually since 2001. (Staff Writer)