Business | Economy
Non-oil trade with Germany remains robust
Trade between Dubai and Germany remains strong with just over Dh28 billion in non-oil trade generated in 2007.
- By Suzanne Fenton, Staff Reporter
- Published: 23:45 December 18, 2008
Dubai: Trade between Dubai and Germany remains strong with just over Dh28 billion in non-oil trade generated in 2007.
Imports hit Dh26.8 billion while exports and re-exports were Dh1.3 billion, according to the Dubai Chamber of Commerce and Industry.
To break this figure down, Dubai's direct trade registered Dh18.7 billion worth of imports, Dh188 million in exports and Dh558 million in re-exports.
Within Dubai's free zones, about Dh8.2 billion was in imports, Dh577 million in exports and re-exports.
The Hamburg Metropolitan area enjoyed a GDP of 85 billion euros (Dh399 billion) in 2007 and the city is investing heavily in infrastructure, health and education.
A strategic partnership agreement has been signed between the Hamburg and Dubai chambers of commerce during the two-day business forum in Hamburg.
Gateway status
Hamburg is geographically close to the Scandinavian countries and the whole Baltic region, meaning it is a potentially huge crossroads for trade between Europe, Asia, Africa and the Americas.
Dubai's 60-strong delegation includes DCCI Director General Hamad Bu Amim and other members of the chamber and leading companies.
The delegation is meeting with Hamburg Chamber of Commerce officials and business leaders to discuss ways to increase business and trade between Hamburg and Dubai.
In what has been a couple of grim months around the world with the financial situation affecting most sectors, Dubai could be in a position to invest serious money in Hamburg projects and business strategies.
"They [Hamburg businesses] also know and appreciate the fact that Dubai's success is based on the trust and cooperation prevalent between the government and the private sector which have been jointly working to make Dubai not only a regional hub, but an international trading hub," said Bu Amim.
Hamburg has Europe's second largest container port with 56.2 per cent of container turnover going to east and South-East Asia, according to the Hamburg Port Authority.
Hamburg is also the world's third largest hub for civil aviation and is a centre for building aircraft, including the Airbus A380 superjumbo.
Share this article
More from Economy
More from Business
Popular in Business
-
Budget travel
Airlines in the region
Take a pictorial look at some of the budget airlines in GCC
Business Editor's choice
-
Louvre, Golden Tulip hotel chains to expand in region
Dubai could host first establishment in 2010
-
Lending slows down in eurozone
Central Bank will this week announce revisions to liquidity-boosting measures
-
Global outcry over Dubai World restructuring is exaggerated
About 75 per cent of the $20b bond has already been subscribed
