UAE-German Business Forum convened in Abu Dhabi
UAE-German Business Forum in Abu Dhabi: Strengthening Economic Ties
The United Arab Emirates and Germany have reinforced their strong economic relationship by hosting the UAE-German Business Forum in Abu Dhabi. The event took place at the Abu Dhabi Global Market and brought together senior government officials, industry leaders, and private sector representatives from both countries to explore collaboration opportunities in key sectors.
Key Attendees and Discussions
The forum was attended by Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Jorg Kukies, Germany's Minister of Finance, along with ambassadors and business leaders from both nations. Thani Al Zeyoudi emphasized the importance of the UAE-Germany economic partnership, noting a significant increase in non-oil trade to USD 13.8 billion in 2024. He highlighted the UAE's role as a gateway to high-growth markets, offering German businesses access to Asia, Africa, and the Middle East.
Jorg Kukies expressed Germany's commitment to strengthening trade and investment ties with the UAE, focusing on advanced technology, clean energy, and sustainable investment. Discussions centered on cooperation in clean energy, finance, industrial technology, and logistics, with a focus on sustainability and innovation.
Key Agreements and Investments
The forum highlighted progress under the Energy Security and Industry Accelerator Agreement, facilitating investments in low-carbon ammonia, LNG, and renewable energy projects. Germany's increasing investment in the UAE's advanced technology and industrial automation sectors was also discussed.
The forum concluded with networking sessions and the exchange of Memorandums of Understanding on joint investments in fintech, digital transformation, and sustainable investments. Notable investments included Germany's Capital 468 in UAE-based companies and ZenAdmin's expansion in the UAE market.
Doubts Revealed
UAE
UAE stands for the United Arab Emirates, which is a country in the Middle East made up of seven smaller regions called emirates. It's known for its modern cities like Dubai and Abu Dhabi.
Abu Dhabi
Abu Dhabi is the capital city of the United Arab Emirates. It's a big city with lots of tall buildings and is known for its rich culture and history.
Economic Ties
Economic ties refer to the connections between two countries in terms of trade, investment, and business. It means they work together to buy and sell goods and services.
Thani bin Ahmed Al Zeyoudi
Thani bin Ahmed Al Zeyoudi is a government official in the UAE. He works on matters related to trade and the economy, helping the country do business with other nations.
Jorg Kukies
Jorg Kukies is a German official who works on economic and financial matters. He helps Germany build strong business relationships with other countries.
Clean Energy
Clean energy is energy that comes from natural sources like the sun, wind, or water. It doesn't pollute the environment, unlike energy from burning coal or oil.
Logistics
Logistics is the process of planning and managing how goods are moved from one place to another. It involves transportation, storage, and delivery.
Renewable Energy
Renewable energy is energy that can be used over and over again, like solar or wind power. It's better for the environment because it doesn't run out or cause pollution.
Fintech
Fintech is short for financial technology. It refers to new technology that helps people manage their money, like apps for banking or investing.
Digital Transformation
Digital transformation is the process of using technology to change how businesses work. It helps companies become more efficient and offer better services to customers.
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