The Ministry of Foreign Trade has issued an analytical study on the nature of investment and trade relations between the United Arab Emirates and the Federal Republic of Germany. The study examined the current opportunities that are available to develop these relations in light of the advances both countries are witnessing in various sectors.
The value of non-oil commercial exchange between the two countries has gone up from USD 6.188 Billion in 2006 to USD 8.448 Billion in 2009, with a 36.5% increase, while non-oil commercial exchange reached USD 10.609 Billion in 2008, pointing out that Germany is considered the UAE’s 5th largest trade partner. Moreover, Germany’s share in the UAE’s total non-oil trade was 4.7% during 2009.
The study revealed that there are currently close to 157 German companies in the UAE, placing Germany at the 3rd place in the list of countries with the most companies in the UAE, preceded in this regard by the United Kingdom and the United States of America.
The report also revealed that during the period between 1982 – 2009, the total number of commercial agencies reached 418 and the number of registered trademarks was 4868.
Bilateral Trade Non-oil bilateral trade between the UAE and Germany witnessed a noticeable increase during the past years. Non-oil exports were approximately USD 91 Billion in 2009, with a 26% increase from 2008, while the value of re-exports to Germany registered a 56.4% decline from 2008, at USD 190 Billion, which is considered closer to the 2007 figures.
&In the mean time, imports from Germany into the UAE decreased by 19.1% reaching USD 8.167 Billion, also considered similar to 2007 figures.
This has led to the overall decrease of non-oil foreign trade between the two countries to USD 8.4 Billion, out of which USD 281 Million was the total value of UAE exports to Germany which is ranked fifth in the UAE’s 2009 and 2008 non-oil overall foreign trade geographic structure, and in 25th place in the list of states importing from the UAE for the year 2009, advancing from the 33rd place in 2008. Germany also holds the 30th position in the list of the most important re-export destinations from the UAE during 2009, going back from the 20th position in 2008. It’s also in the 4th position in the list of the most exporting states to the UAE in 2009, advancing by one spot from the previous year.
According to government figures, the UAE’s non-oil exports to Germany constituted 80% of the UAE’s overall exports to Germany, with a 61.7% increase from 2008 mainly due to the increase in the export of polyether, polycarbonates, polyester and similar products by approximately 129%, reaching over USD 19 million.
According to the latest figures, German investments in the United Arab Emirates reached approximately USD 165 Million in 2006, with a 66% increase from 2005, constituting 0.9% of all direct investments in the state during 2006 which were approximately USD 19 Billion and approximately USD 34 Billion during 2007.
German investments in the UAE are mainly in extraction, manufacturing, power generation, infrastructure, and event organization