Berlin : An agreement on avoidance of double taxation and tax evasion related to income tax was signed yesterday between the UAE and Germany.

The agreement was signed by Shaikh Abdullah Bin Zayed Al Nahyan, Foreign Minister, and Guido Westerwelle, the Germany's Foreign Minister, at the German ministry's headquarters yesterday morning.

During the joint press conference that was conducted after the signing ceremony, Shaikh Abdullah said that signing this dual taxation and tax evasion agreement would contribute to expanding new trade and investment horizons between the two countries to achieve their mutual levels of ambition.

Shaikh Abdullah added that the UAE has a peaceful and ambitious nuclear programme that will provide a safe and transparent environment. He expressed his wish that other countries in the Middle East would follow that model.

The German minister welcomed Shaikh Abdullah and expressed his hope that the visit would contribute to enhancing mutual relations between the two countries.

He also emphasised the importance of expanding partnerships and cooperation between the UAE and Germany.