Page 427 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 2

2/18/25, 3:34 PM UAE-German Business Forum convened in Abu Dhabi
In his opening remarks, Dr. Thani Al Zeyoudi underscored the strength of the UAE-Germany
economic relationship and the potential to further expand bilateral trade and investment.

"Germany remains one of the UAE's most important economic partners, with our non-oil trade

reaching US$13.8 billion in 2024, a 5.4 percent increase over the previous year and nearly double
the global trade growth average. Today's forum provides a valuable opportunity to build on this
momentum, identifying new areas for collaboration in renewable energy, Industry 4.0, industrial
technology, logistics, and advanced manufacturing," he stated.

He highlighted the UAE's growing role as a gateway to high-growth markets, offering German

businesses unparalleled access to Asia, Africa, and the Middle East through its Comprehensive
Economic Partnership Agreements (CEPA) program, which covers over a quarter of the world's
population.

From the German side, Dr. Jrg 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 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.

The UAE and Germany continue to deepen their economic ties, with non-oil trade reaching
US$13.8 billion in 2024, reflecting a 5.4 percent increase over 2023 and a 41 percent% rise
compared to 2022. Germany remains the UAE's second-largest trade partner within the EU and 13th

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