Page 442 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 2

2/18/25, 3:36 PM UAE-German Business Forum Convened In Abu Dhabi - UrduPoint
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.

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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.

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