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UAE, Germany trade exchange to hit AED66 billion

Growing economic exchange between two countries reflects medium- and long-term strategy

The UAE is Germany’s first trade partner in terms of exports in the Middle East and Africa region, confirms a senior official.

Dr Peter Göpfrich, CEO of the German Emirati Joint Council for Industry and Commerce (AHK), says that German exports to the UAE grew by 16 per cent during 2015, compared with the previous year.

Göpfrich expects the trade exchange between the two countries to reach nearly AED66.11 billion, a growth of ten per cent annually, reports Al Khaleej.

He points out that the continuously growing economic exchange between the two countries reflects the medium- and long-term strategy that links them and their strong desire for more joint investments both at present and in the future.

He adds that German exports to the UAE accounted for the largest share of trade, equivalent to 83 per cent or AED55bn, which makes the UAE the most important trade destination for Germany, while UAE’s exports to Germany amounted to AED11bn.