Page 436 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 2

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 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 percent in 2024, reaching US$616
million, while re-exports totalled US$1.1 billion, highlighting Germany’s role as a key gateway for
global trade. Additionally, German imports to the UAE increased to US$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 tokenised 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.

https://www.msn.com/en-ae/money/economy/uae-german-business-forum-convened-in-abu-
dhabi/ar-AA1ylyja