Germany is UAE’s 5th largest trade partnerMay 24th, 2010 - 11:05 pm ICT by IANS
Abu Dhabi, May 24 (IANS/WAM) Germany is the UAE’s 5th largest trade partner with non-oil trade reaching $8.4 billion in 2009, a 36.5 percent increase compared to $6.1 billion in 2006. Germany’s share in the UAE’s total non-oil trade was 4.7 percent in 2009.
In 2008, the value of non-oil trade between the two countries was $10.6 billion.
The figures were revealed by the foreign trade ministry Monday in a report on the nature of investment and trade between the two countries.
The report examined the current opportunities that are available to further strengthen trade relations, including exploring new export markets, increasing competitiveness of UAE exports and providing suitable environment to encourage private sector to participate in exports.
Economist Ahmed Al Ananbeh, who worked on the report, said there are about 157 German companies in the UAE, placing it in the 3rd place on the list of countries with most companies in the UAE, after Britain and the US.
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