Page 424 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 2

2/18/25, 3:34 PM World News | UAE-German Business Forum Convened in Abu Dhabi | LatestLY
From the German side, Jorg Kukies reaffirmed Germany's commitment to deepening its trade and
investment ties with the UAE.

"The UAE, as a major gateway to regional and global markets, is a strategic partner for Germany,
and we look forward to strengthening and expanding cooperation especially in the fields of

advanced technology, clean energy, trade and sustainable investment.

"As global economies transition toward green energy, digital transformation, and advanced
industrialisation, we see significant opportunities for German and Emirati businesses to collaborate

on high-impact projects," he said.

The forum discussions focused on strengthening cooperation in clean energy, finance, industrial

technology, and logistics, with an emphasis on sustainability and innovation.

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 4,75,000 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.

The UAE and Germany continue to deepen their economic ties, with non-oil trade reaching USD 13.8
billion in 2024, reflecting a 5.4 per cent increase over 2023 and a 41 per cent 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 per cent in 2024, reaching USD 616

million, while re-exports totalled USD 1.1 billion, highlighting Germany's role as a key gateway for
global trade. Additionally, German imports to the UAE increased to USD 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.

https://www.latestly.com/agency-news/world-news-uae-german-business-forum-convened-in-abu-dhabi-6616230.html/amp 3/4