UAE Economy Minister discusses cooperation with Germany

Eng. Sultan Al Mansouri, Minister of Economy has discussed with Harry Galloway, Minister of Economy of the German Mecklenburg State, ways to strengthen the bilateral relations in the areas of industry, technology, investment, as well as small and medium enterprises. Al Mansouri said during the meeting held yesterday at the ministry in Dubai that the UAE has managed to succeed in liberalisation of the policies with all the countries worldwide, especially those with successful experiences such as Germany. He referred to the growth of UAE-German relations in all fields based on respect and mutual interests, a move which reflects the keenness of leadership in both countries on bolstering the relations. He cited that the UAE and Germany had established the diplomatic ties in 1972, followed by the existing economic ties. The UAE minister said the UAE is the top trade partner to Germany in the region, noting that Germany is one of the economic powerhouses in the world given its experience in technology. He said the trade exchange between the UAE and Germany stood at Dh31 billion in 2011, adding that the UAE is one of the most important export markets to Germany. He noted the UAE has huge investments in the German market, citing Daimler Chrysler Company as an example. Al Mansouri said the two sides have pledged to implement resolutions of the meetings of the UAE-German Joint Economic Committee to further boost the economic links. He added that the knowledge economy is a strategic target for the UAE federal government and a focal point for UAE vision 2021. Al Mansouri called on the businesspersons in both countries to exploit attractive investment opportunities in the two countries. For his part, the German official said the UAE-German relations date back to over 40 years, noting that the two countries are looking forward to deeper relations. Mecklenburg hailed the relations between the two countries, adding that the economic cooperation tops the agenda of the public and private sectors in both countries.