Business | General
Merkel calls for expanded trade, wide-ranging collaboration
Al Mansouri urges exchange of wider range of goods and services
- By Himendra Mohan Kumar, Staff Reporter
- Published: 00:00 May 26, 2010
- Image Credit: EPA
- Angela Merkel inaugurates a natural gas filling station of the German company Bauer in Masdar City yesterday, as Abdullah Nasser Al Suwaidi, deputy CEO of Abu Dhabi National Oil Company (Adnoc), and other officials look on.
Abu Dhabi: German Chancellor Angela Merkel yesterday hailed the UAE's development strategy and said the country is a key economic partner for Germany in the Middle East.
Merkel was addressing the closing ceremony of the eighth UAE-Germany Joint Economic Committee at the Emirates Palace in Abu Dhabi.
Merkel called for the strengthening of Germany-UAE trade, in addition to collaboration in health care, education, renewable energy industries and small and medium enterprises (SMEs).
Merkel said the UAE is a dynamic economy and has achieved remarkable progress over the years through its focus on all-round development including strategic partnerships globally, which includes Germany.
Speaking at the event, Sultan Bin Saeed Al Mansouri, Minister of Economy, said trade between UAE and Germany fell 8.1 per cent on year to about 6.3 billion euros (Dh28.73 billion) in 2009 as a result of the global financial crisis.
"Both UAE and German exports witnessed a decline. To respond to this situation, we have to pursue our efforts to increase balanced trade through diversifying the range of goods and services exchanged, increasing the number of trade exhibitions, fairs and business forums in both countries and encouraging more engagement between small and medium enterprises," Al Mansouri said.
"The UAE is also keen to gain from Germany's proven expertise ... in energy efficiency and renewable energy as we have a declared commitment to increase the share of renewable energy in our total national power production to 7 per cent by the year 2020."
Earlier yesterday, Merkel toured the site of Masdar City, Abu Dhabi's flagship renewable energy project.
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