Page 438 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 2

2/18/25, 3:36 PM UAE-German Business Forum Convened In Abu Dhabi | Pakistan Point
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. Jörg 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 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.

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