Dubai Chamber receives German trade delegation

The meeting discussed the ways to strengthen trade ties between the two countries, and the intention of the German delegation to learn about Dubai Chamber's mission and services provided to the local business community and foreign investors.

Buamim welcomed the visiting German delegate highlighting the strong ties that Dubai enjoys with the German business community, especially after the encouraging results the two countries achieved through their participation in a number of economic partnership forums which were held in various German cities from 2004 to 2006.

He pointed out that Germany enjoys the third largest economy in the world, and the biggest in Europe. Germany is also considered an important strategic partner to the UAE, mainly after both countries have maintained close relations thanks to their participation in mutual economic events resulted in signing a number of agreements of cooperation. In 2005, a joint UAE-German businessmen council was formed. The council played a crucial role in enhancing bilateral trade ties between the business communities in both countries, opening new channels of cooperation and increasing the bilateral trade volumes.

'Dubai Chamber is always keen to improve its trade relations with Germany through exchanging visits of businessmen from both countries and participating in major international trade exhibitions organized in Dubai and Germany. Dubai's non-oil trade with Germany reached AED 15.7 billion in 2006, and the volume is expected to increase soon,'

said Buamim.

He stressed the importance of having 5 German trade representative centers in the UAE. He also highlighted the contribution of the active German Business Council that operates under the umbrella of Dubai Chamber, in increasing the number of German companies and trade establishments in Dubai that reached more than 490 companies dealing in manufacturing, trade, banking, tourism, consultancy and services.

'Dubai's strong ties with a number of German cities and economic bodies have largely helped in increasing the bilateral trade between the two countries. In 2005, Dubai and Frankfurt became twin cities thanks to Messe Frankfurt Corporate Group which established a branch in Dubai in 2002 and helped increasing the number of German companies in Dubai by 43%,' said Buamim.

H.E. Paul Strunk, Managing Director of the German-Thai Chamber of Commerce and Industry, expressed his organization's interest in enhancing trade relations with Dubai Chamber, stressing his intention to learn more about Dubai Chamber's experience in serving the local business community in Dubai and its key role in attracting foreign investments.

Strunk briefed Dubai Chamber about the German-Thai Chamber of Commerce & Industry which was established in 1962 to boost the economic relations between Germany and Thailand. He said the chamber includes more than 500 members, mostly representatives of the reputed German banks and companies from the electrical, chemical, pharmaceutical, engineering and construction sectors.

'In cooperation with Dubai Chamber, the German Industry and Commerce Office in Dubai will be hosting a conference on the developing economic relations between Germany and Asia-Africa-Australia regions. Representatives of the major economic sectors in these regions will meet top officials from the German Chambers of Commerce & Industry, as well as representatives of the German ministries and major economic institutions,' Strunk added.