Editorial
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Delegate of German Industry and Commerce
Authorized by the Federal Ministry of Economics and Labour (BMWA) and the Federation of German Chambers of Industry and Commerce (DIHK), The German Industry and Commerce Office has been established in 1998 to promote bi-lateral trade relations between Germany and the U.A.E. The focus of its services is to ensure the growth of business between Germany, the U.A.E., the Sultanate of Oman and Qatar. In each country it is working in close cooperation with German embassies and business councils, company representatives and many other partners in the local business community.
More and more German companies decide to do business in the U.A.E. with Dubai as a preferred location. Many factors contribute to this development: Excellent leadership and wise economic policies, outstanding infrastructure, positive business attitude, cosmopolitan way of life, tax-free environment, to name but a few. Playing an excellent role as a hub for trading and logistics there are more exports of German products to the U.A.E. than to much larger economies in the region. According to recent trade statistics, the year 2002 will see another record in terms of German products sold and services rendered to the U.A.E.
However, these impressive results are no reason to be content. There is a much larger potential for cooperation, especially in terms of investment and know-how-transfer. The German participation in important sectors like IT, media, environmental technologies or education leaves much room for further development. Having established the most dynamic business environment in the Middle East, the UAE government is actively looking for more German investment, be it in the respective Emirates or in one of the 13 Free Zones. Foreign investors are most welcome, especially in the field of Energy, petrochemicals, building, trade, finance and tourism. The UAE would like to see more German companies engaged in these and other promising sectors. Projects like Dubai Health Care City and Dubai International Financial Centre provide an excellent platform for investments and joint ventures. The introduction of freeholds in connection with major real estate projects - The Palm being the most popular example - is creating new market opportunities in sectors like building, construction, interior design and technical equipment.
Our local partners are playing a more active role in the region and abroad. The U.A.E. are one of the largest foreign investors in the Arab world. More and more Dubai entities and companies are proactively marketing their respective markets worldwide and in Germany, too. With the support of the German Industry and Commerce Office Dubai Internet City was the first exhibitor on the world's largest trade fair for ICT-products, CeBIT 2002. This year CeBIT and other leading trade fairs in Germany will see a much larger participation of U.A.E. exhibitors and visitors.
In recent years, the UAE has become the second most important trading partner for Germany in the Arab World. As Germany is not importing oil from the UAE, the Federal Government in Abu Dhabi would like to find other ways and means to balance € 2.8 Billion worth of German exports. The Federation of UAE chambers and the German Industry Commerce Office will jointly develop platforms and events to successfully promote UAE products in Germany.
Dr. Jürgen Friedrich
Delegate of German Industry and Commerce
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