Page 400 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 2

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2/18/25, 3:56 PM UAE and Germany strengthen economic ties with UAE-German Business Forum in Abu Dhabi
One of the key highlights was the progress made under the Energy Security and Industry Accelerator
Agreement, signed in 2022. This agreement has facilitated investments in low-carbon ammonia,
liquefied natural gas (LNG), and renewable energy projects, including Masdar’s investment in the Baltic
Eagle offshore wind farm, which will soon supply clean energy to 475,000 households in Germany.

Additionally, discussions explored Germany’s increasing investment in the UAE’s advanced technology,
AI, and industrial automation sectors, benefiting from the UAE’s NextGen FDI initiative, which supports
high-growth companies expanding into the region.

UAE-Germany Trade Figures at a Historic High

The UAE and Germany continue to deepen their economic ties, with non-oil trade reaching $13.8 billion

in 2024, reflecting a 5.4% increase over 2023 and a 41% rise compared to 2022. Germany remains the
UAE’s second-largest trade partner within the EU and 13th globally, reinforcing the strength of their long-
standing economic partnership and the steady growth of bilateral trade.

The UAE’s non-oil exports to Germany grew significantly by 44.7% in 2024, reaching $616 million, while
re-exports totaled $1.1 billion, highlighting Germany’s role as a key gateway for global trade.

Additionally, German imports to the UAE increased to $12.1 billion, cementing Germany’s position as
the UAE’s second-largest import partner within the EU and further accelerating the upward trajectory of
trade relations between the two economies.

The forum concluded with networking sessions and business matchmaking meetings, facilitating direct

engagement between UAE and German business leaders to explore new investment and trade
opportunities.

The forum also witnessed the exchange of several Memorandums of Understanding on joint
investments between Emirati and German companies, particularly in fintech, digital transformation, and
sustainable investments. The agreements included an investment by Germany’s Capital 468 in several

UAE-based companies, such as the digital payment platform Alaan and the financing company Flow48.
Additionally, investments were made in Hydrum Technologies, a market-making platform, and Oro, a
digital platform for tokenized gold investments. Furthermore, Germany’s ZenAdmin, a specialist in IT

and HR automation solutions, announced its expansion through the acquisition of a UAE-based IT
platform, reinforcing its presence in the local market and supporting the country’s digital transformation
efforts.