Abu Dhabi: The volume of trade between UAE and Germany surged to 10.5 billion euros by end of 2012, up by 23 per cent over 2011, said ministry of economy on Tuesday on the 5th Annual German Industry Day which was held in Abu Dhabi.
“The UAE is a main trade partner to Germany and we have signed many partnership agreements with Germany in renewable energy, knowledge economy, tourism, construction, manufacturing, waste and water management amongst others,” said Abdullah Shamisi, assistant undersecretary for Industrial Affairs at the Ministry of Economy.
Mohammad Al Muhairi, Abu Dhabi Chamber of Commerce and Industry (ADCCI) director general, said that the UAE is now focusing on emerging sectors to enhance its economy within its vision for 2021.
“German companies have significant contribution to the UAE development and Germany is a strong partner. We seek investments with Germany in sectors that would add value to our economy,” called Al Muhairi.
The ministry said that the UAE is the only country in the region that has strategic partnership with Germany and it is deemed the largest trade partner in the GCC region.
Arno Fuchs, CEO of FCF, said that there are more than 1,000 German companies in the UAE and Germany is amongst the top five trade partners to UAE.
“We are keen to increase cooperation into new levels, mainly in technology, innovation, knwoledge-based economy, SMEs, renewable energy, petrochemicals, healthcare, tourism, financial services and heavy industries,” said Fuchs.
He explained that Germany is capitalising on the development of trade and business relations with the UAE, benefiting from its sophisticated technologies and heavy industries to transfer to the region.
40 contracts signed
Khaled Salmeen, Kizad’s CEO and managing director, said that Kizad is seeking long term investments which would meet the country’s vision for a diversified economy that adds value to its sectors.
“We are seeking long-term agreement either on company based law system, investment system or on free zone system. We have so far five agreement in the free trade zone area with companies from the UAE, Canada, India and Germany,” said Salmeen.
He added that Kizad is striving to attract new industries with high technologies that would add value to the country.
“We look at what any company would add to the UAE economy in various terms including the UAE content, investment and industry and automation,” explained Salmeen.
He pointed out that Kizad had so far signed over 40 agreement with various companies and he expected to sign more throughout this year.
“Between 4-5 companies will start production in Kizad in 2014 and so far we have reached 40 per cent level of occupancy of our phase I,” concluded Salmeen.
