Germany-UAE trade continues to flourish

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The year 2023 has witnessed remarkable growth in the economic relationship between the United Arab Emirates (UAE) and Germany. Following the visits of Germany's Chancellor Olaf Scholz and Vice Chancellor Dr. Robert Habeck to the UAE last year, there is a continued influx of German entrepreneurs and companies into the UAE.
The UAE's proactive approach in establishing itself as a business-friendly platform with favorable regulations has attracted significant investments. Notably, the UAE has transitioned from being primarily a destination for German investment and consumer goods to becoming a hub for technology and innovation. Moreover, the UAE is actively engaged in negotiating multiple free trade agreements, positioning itself as a global business and manufacturing hub, which aligns well with Germany's strengths in advanced industrial technologies.
Key economic indicators highlight the depth of the bilateral trade and investment partnership. With annual bilateral trade nearing $10 billion, it's evident that the UAE-Germany economic connection goes beyond the exchange of goods. The UAE is home to approximately 1,200 German companies operating within its borders, and around 25,000 German citizens have chosen to live and work in the seven Emirates.
In 2023, the German Emirati Joint Council for Industry and Commerce (AHK) is celebrating its 25th anniversary. What began as a small team has grown into the largest bilateral trade and investment promotion organization in the Gulf. Funded primarily by more than 600 corporate members and various projects, AHK collaborates closely with UAE government entities, highlighting the alignment of interests between the UAE leadership and AHK's mission.
As the UAE focuses on sustainability in 2023, there is a strong emphasis on stakeholder discussions related to renewable energy, energy-efficient manufacturing, digitalization, and inclusive business models. AHK is actively involved in the lead-up to COP28, with various events and initiatives supporting climate action. Additionally, AHK plays a pivotal role in the bilateral Energy and Climate Partnership between the German Federal Ministry for Economic Affairs and Climate Action and the UAE Ministry of Energy and Infrastructure, with ongoing successful projects expected to be showcased.

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