Abu dhabi: President His Highness Sheikh Mohamed bin Zayed Al Nahyan is currently visiting the Federal Republic of Germany, marking the first-ever state visit by a President of the United Arab Emirates (UAE). This state visit represents a historic moment in a partnership that has developed over decades. Stable relations are of particular importance in times of major geopolitical challenges. The coming days offer an opportunity to take cooperation between Germany and the UAE to a new level.
According to Emirates News Agency, the partnership is built on a robust economic foundation. Bilateral trade between the two nations is projected to reach 13.6 billion euros by 2025, showing a 15 percent increase compared to the previous year. Exports from the UAE to Germany have surged by 58 percent, showcasing the dynamic nature of this economic relationship. The strengths of both countries complement each other; Germany is known for engineering and technology, while the UAE provides capital, energy, and infrastructure.
The collaboration between the two nations is evident in significant investments. The UAE's ADNOC, through its international investment firm XRG, recently acquired Covestro, a major player in Germany's industrial sector. This acquisition underscores the UAE's commitment to Germany as a long-term industrial partner. Covestro, now part of a global chemicals platform, employs over 7,000 people across six German locations.
The energy sector further highlights the UAE-Germany partnership. ADNOC has been supplying liquefied natural gas to Germany, and the UAE's Masdar holds a stake in the Baltic Eagle offshore wind farm, providing renewable energy to 475,000 German households. Additionally, over 2,000 German companies operate in the UAE, spanning sectors from mechanical engineering to services.
As the UAE has already invested over 34 billion euros in Germany, mainly in energy and industrial sectors, the potential for growth remains vast. To capitalize on this, the German-Emirati Investment Council is being established during Sheikh Mohamed bin Zayed Al Nahyan's visit. This council aims to mobilize capital for long-term investments and break down barriers, focusing on future industries to boost international competitiveness and growth.
The UAE plans further substantial investments to foster opportunities in both nations, focusing on sectors poised to drive tomorrow's competitiveness: modern manufacturing, digital technologies, artificial intelligence, healthcare, life sciences, and agricultural technology. The UAE encourages more German companies to see the UAE not just as a market but as a hub for investment, development, and manufacturing, and as a gateway to the Gulf, Asia, and Africa.
This state visit signifies more than just expanded trade; it marks the beginning of a deeper economic and strategic partnership aimed at long-term growth for both countries. In a world where economic strength and strategic resilience are crucial, this partnership enhances supply chain resilience, drives innovation, boosts energy security, and improves competitiveness.
The next chapter of this relationship should not be measured solely by trade volumes. The focus is on creating stronger industries, more resilient economies, and new opportunities for the people of both nations. Germany and the UAE have the potential to achieve significant milestones together, and this visit provides the opportunity to turn these ambitions into reality. Now, both countries must deliver on these promises.