Page 431 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 2

2/18/25, 3:34 PM UAE-German Business Forum convened 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 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.

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.

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