UAE replaces KSA as Germany's No1 trade partner

The Forum started with Sheikh Fahim bin Sultan Al Qassimi, the UAE Minister of Economy and Commerce, and State Secretary in the Federal Ministry of Economics and Labour, Alfred Tacke, signing the Agreed Minutes of the 5th Joint Economic Commission UAE-Germany.

The Emirates have now replaced Saudi-Arabia as Germany's trade partner No.1 in the Middle East after an increase of the German-UAE trade volume of 25% in the past year.

It was agreed that the Forum took place in a difficult period of the Middle East, however, the record participation of more 700 businessmen, politicians and media representatives, about 300 of them from Arab countries, also reflected a cautious optimism.

There was special acclaim for the 40 Iraqi guests including Mr. Musab Al Kateeb, Deputy Minister of Trade, and Aboud Mohamed Jawad Al Tufaili, Chairman of the Federation of Iraqi Chambers of Commerce, Baghdad.

State Secretary Tacke said it was time for the Arabs and the industrialised western countries to newly define their relationship, recognising that both depend on one another in the age of global networks. Mutual respect and tolerance was the order of the day.

The German government demanded full sovereignty for Iraq and was committed to debt remittance within the Club of Paris. The politician also praised Arab leaders for showing a great sense of responsibility in face of rising oil prices, and he simultaneously called on the industrialised countries to be economical with dwindling energy resources.

Apart from countless B to B meetings, the Forum offered the following workshops to the participants:

- Health and Medical Technology
- IT and Telecommunication
- Energy
- Infrastructure
- Environment and Water
- Security Issues
- Trade and Services
- Privatisation, Investment Opportunities and Project Financing
- Education and Vocational Training

Plenary sessions were devoted to 'Doing Business with Iraq' and 'Business Perspectives between Germany and the United Arab Emirates'.

The Forum is being organised annually by Ghorfa, DIHK and Al-Iktissad Wal-Aamal Group with the sponsorship of the Federal Ministry of Economics and a number of large and medium-sized private German companies.