Page 238 - MOE ENGLISH PR REPORT - APRIL 2025 (Part 1)

4/28/25, 3:08 PM UAE, Germany seek stronger trade relations in key sectors
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 $616
million, while re-exports totalled $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.

WAM

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