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THE ECONOMY - INT'L ECONOMIC/TRADE/BUSINESS AGREEMENTS

Dubai marks three-fold rise in German firms

Posted on 22/08/2004

Dubai has emerged as a popular business and tourist destination for Germans with the number of companies run by them in the emirate increasing almost three-fold over the past 10 years even as the trade and tourist traffic with the European country showing a remarkable surge. While the two-way trade between the UAE and Germany rose to a record high to Dh13.5 billion in 2003, the number of German companies in Dubai has increased to 241 this year from 77 in 1993. The number of German ...  >>MORE

UAE and Saudi Arabia are largest economic partners of Germany in the region: German Minister

Posted on 21/07/2004

Wolfgang Clement, German Minister for Economy and Labour described the UAE and Saudi Arabia as the largest and important partners of Germany in the GCC region. In remarks during a press conference held at the end of the German-Saudi Ministerial meeting, Clement said that the UAE-German partnership gained additional momentum recently with the visit of Sheikh Hamdan bin Zayed Al Nahyan, Deputy Prime Minister and Minister of State for Foreign Affairs to Germany in April this year. This ...  >>MORE

Dubai, Mozambique discuss trade ties

Posted on 19/07/2004

Abdul Rahman Ghanim Al Mutaiwee, Director General of the Dubai Chamber of Commerce and Industry, DCCI, received in Dubai yesterday at his office Blmiro Jose Malate, Consul General of Mozambique, and discussed with him economic and trade relations between Dubai and Mozambique. Mutaiwee reiterated the need to for continuous contact between the two sides through their involvement in economic and commercial activities in both Dubai and Mozambique. The Mozambique Consul General supported Al ...  >>MORE

Mohammed bin Zayed visits Volkswagen's factory in Berlin

Posted on 13/07/2004

Lt. General Sheikh Mohammed bin Zayed Al Nahyan, Deputy Crown Prince of Abu Dhabi and Chief of Staff of the UAE Armed Forces visited in Berlin yesterday the Volkswagen Group's factory at the German State of Lower Saxony. Sheikh Mohammed, who is currently on a visit to Germany, was accompanied by Major General Sheikh Nahyan bin Zayed Al Nahyan, Commander of Emiri Guards, Sheikh Hamed bin Zayed Al Nahyan, Chairman of the Sheikh Hamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council ...  >>MORE

Vietnam seeks free trade agreement with UAE

Posted on 13/07/2004

Vietnam will seek a free trade agreement with the UAE once its trade with the UAE increases substantially from the current Dh440 million, according to Do Nhu Dinh, Vietnamese deputy minister for trade. Do Nhu Dinh yesterday opened the Vietnam Trade Centre in Dubai - its first in the region - at an event attended by Abdul Rahman G. Al Mutaiwee, director-general of the Dubai Chamber of Commerce and Industry (DCCI) and Jamal Majid Bin Thanaiah, managing director of the Dubai Ports Authority ...  >>MORE

UAE-German trade volume touches 13.5 billion euros

Posted on 05/06/2004

Berlin - The trade exchange between the UAE and Germany is in the tune of 13.5 billion euros but the trade balance is in favour of the European country, according to Sheikh Fahim bin Sultan Al Qasimi, UAE Minister of Economy and Commerce. He maintained that such a deficit could be resolved by raising the UAE's exports to Germany. "The total volume of trade between the two countries has reached 13.5 billion euros making the UAE the top economic partner of Germany in the Middle East," he told a ...  >>MORE

UAE has become a development model: Fahim

Posted on 05/06/2004

The UAE has overcome huge challenges facing its development drive and become a model for economic progress, according to a senior UAE minister. UAE Minister of Economy and Commerce Sheikh Fahim bin Sultan Al Qasimi told the Seventh Arab-German economic forum last Thursday the UAE, guided by a cordial foreign policy, is always seeking to bolster its relations and friendship with other countries of the world. He said the UAE and German had signed a number of agreements for strengthening joint ...  >>MORE

Fahim Al Qasimi meets German Economy and Labour Minister

Posted on 03/06/2004

Berlin - Sheikh Fahim bin Sultan Al Qasimi, Minister of Economy and Commerce, in Berlin yesterday with German Economy and Labour Minister, Wolfgang Clement. The meeting discussed bilateral cooperation, particularly avenues of mutual cooperation in the field of economy and commerce and ways to enhance them further. During the meeting, the talks also focused on global changes in general and changes in economic and commercial domains in particular. In a statement after the meeting, Sheikh ...  >>MORE

VW expects Abu Dhabi to take stake by October

Posted on 29/05/2004

Wolfsburg - German car giant Volkswagen said yesterday it expected Abu Dhabi to take a stake of up to 10 per cent in its share capital by the beginning of October. VW chairman Bernd Pischetsrieder made the comments in France yesterday and his remarks were confirmed by a company spokesman in Wolfsburg. The spokesman confirmed that negotiations had only just started, but a signing of the deal could be expected at either the end of September or the beginning of October. VW had revealed in ...  >>MORE

Fahim discusses trade issues with French Minister

Posted on 19/05/2004

Sheikh Fahim bin Sultan Al Qasimi, Minister of Economy and Commerce received yesterday Francois Loos, French Minister of Trade who is currently visiting the UAE. In remarks shortly after the meeting, Loos said they discussed a number of bilateral trade and economic issues. They also touched on a request by the UAE to exempt or reduce tariffs on the country's strategic exports to the EU countries. Sheikh Fahim asked the French Minister to use his country's leverage as EU member to reconsider EU ...  >>MORE

UAE and Australia set to sign free trade accord

Posted on 12/05/2004

The UAE and Australia are poised to sign a free trade agreement to boost the strong trade and investment ties between the two countries. Australia's Trade Minister Mark Vaile, who is making a two-day visit to the UAE, yesterday held talks with Sheikh Fahim bin Sultan Al Qasimi, Minister of Economy and Commerce, in the capital to complete the final details of the agreement. Paul Morgan, First Secretary at the Australian Embassy here, said the purpose of the minister's visit was to discuss ways ...  >>MORE

UAE eyes better trade with Bosnia and Herzegovina

Posted on 10/05/2004

Abdul Rahman Ghanim Al Mutaiwee, Director General of the Dubai Chamber of Commerce and Industry, affirmed that non-oil trade figures between Dubai and the Republic of Bosnia and Herzegovina reflect a necessity for businessmen on both sides to review the situation. He added that the trade figures should reflect the great relations between the two countries, according to a report in ‘Gulf News.' In an opening address at the Forum for Investment and Trade Opportunities in Bosnia and Herzegovina, ...  >>MORE

UAE, Germany to sign strategic partnership agreement soon

Posted on 09/05/2004

Dubai will soon sign a partnership agreement in all economic areas with Germany. The move, when completed, will be the first of its kind to be signed by Dubai with a foreign country. Ahmed Al Banna, Deputy Director of the Dubai Chamber of Commerce and Industry said yesterday officials from the public and private sectors in Dubai and Germany will converge in Munich May 26 to explore means of forging a strategic economic partnership between Dubai and Germany. Held under the aegis of ‘Dubai ...  >>MORE

Hamed inks MoU with Volkswagen

Posted on 01/05/2004

Sheikh Hamed bin Zayed Al Nahyan, Chairman of Abu Dhabi Economy Department, and Volkswagen AG Chairman Bernd Pischetsrieder concluded yesterday in Berlin a Memorandum of Understanding (MoU) for Industrial cooperation. Deputy Prime Minister and Minister of State for Foreign Affairs Sheikh Hamdan bin Zayed Al Nahyan, was present at the signing ceremony. According to the memo, the two sides will look deeper into potential common projects. 'Experts from both sides will conduct a feasibility ...  >>MORE

Abu Dhabi team visits VW base to clinch deal

Posted on 30/04/2004

Wolfsburg, Germany: Top officials from Abu Dhabi visited Volkswagen AG's headquarters yesterday to complete a deal with the German carmaker. Under the deal, Abu Dhabi's state-owned Mubadala Development Company will purchase LeasePlan, Europe's leading car fleet-management firm, together with Volkswagen and a Saudi partner, from Dutch bank ABN Amro for a total of 2 billion euros (US$2.4 billion). Volkswagen chief executive Bernd Pischetsrieder said its supervisory board would approve a sale ...  >>MORE

Fahim addresses German business community

Posted on 30/04/2004

German technology allied with UAE capital and infrastructures will enable both countries achieve aspired objectives of their strategic partnership, according to UAE Minister of Economy and Commerce Sheikh Fahim bin Sultan Al Qasimi. 'We invite the German business and industry community to contribute in our industrial strategy as the manufacturing sector is now contributing 14 percent in the UAE GDP, Sheikh Fahim told a seminar on 'Economic Dialogue between the UAE and Germany', organized by ...  >>MORE

UAE, Germany sign MoU for economic cooperation

Posted on 29/04/2004

UAE Deputy Prime Minister and Minister of State for Foreign Affairs Sheikh Hamdan bin Zayed Al Nahyan and German Chancellor Gerhard Schroeder signed yesterday a Memorandum of Understanding (MoU) for developing bilateral economic and technological cooperation. The two countries inked the MoU out of their keen desire to enhance their bilateral cooperation through forging a strategic partnership. By this, Abu Dhabi and Berlin are seeking to achieve further security, stability and prosperity to ...  >>MORE

Hamdan holds talks with German Economics Minister

Posted on 29/04/2004

UAE Deputy Prime Minister and Minister of State for Foreign Affairs held talks yesterday with German Minister of Economics and Labor Wolfgang Clement over ways of enhancing joint economic and investment cooperation. Sheikh Hamdan stressed the importance of German investment in UAE economy. 'The UAE is ready to extend all possible assistance and facilities to potential Germany investors in its free market economy,' he said. The German minister said he was pleased with the meeting of Sheikh ...  >>MORE

Hamed watches new technology for road pavement

Posted on 29/04/2004

Sheikh Hamed bin Zayed Al Nahyan, Chairman of Abu Dhabi Economy Department, watched a live trial for a new German technology to pave roads. Sheikh Hamed is currently visiting Germany with Deputy Prime Minister and Minister of State for Foreign Affairs Sheikh Hamdan bin Zayed Al Nahyan. According to the new technology, the paved road can be used by vehicles just two hours after the work is completed. The company which invented the technology says it uses a special material to freeze sands ...  >>MORE

Hamed visits Siemens

Posted on 29/04/2004

Sheikh Hamed bin Zayed Al Nahyan, Chairman of Abu Dhabi Economy Department, toured yesterday the German company Siemens as part of his visit to Germany. The meeting discussed prospects of joint cooperation in the domains of transfer technology, exchange of expertise and investment. Sheikh Hamed was accompanied by Salim bin Mohammed Al Dhahiri, Under Secretary of Abu Dhabi Economy Department. (The Emirates News Agency, WAM) ...  >>MORE

UAE, German officials hold economic talks

Posted on 29/04/2004

UAE-German officials met in Berlin yesterday to explore prospects of joint trade, economic, Industrial and investment cooperation. A UAE delegation led by Jamal Rashid Lotah, Assistant Under Secretary of UAE Ministry of Finance and Industry, for Industrial Affairs, reviewed with top officials of German Ministry of Economics, Aspects of joint cooperation and exchange of expertise in industry and transfer of technology. Lotah expressed UAE's satisfaction over the progress of trade and economic ...  >>MORE

Hamed bin Zayed visits GTZ headquarters

Posted on 29/04/2004

Sheikh Hamed bin Zayed Al Nahyan, Abu Dhabi Executive Member and Chairman of the Abu Dhabi Economic Department, yesterday visited German Agency for Technical Cooperation (GTZ), and discussed economic cooperation and establishing joint ventures with the company officials. Sheikh Hamed, who is visiting Germany as member of the UAE delegation led by Sheikh Hamdan bin Zayed Al Nahyan, Deputy Prime Minister and Minister of State for Foreign Affairs, also heard a briefing on the various projects ...  >>MORE

UAE is Germany's strategic partner: Schroeder

Posted on 28/04/2004

German Chancellor Gerhard Schroeder called the UAE strategic partner and welcomed Abu Dhabi's interest in acquiring stake in the German giant carmaker Volkswagen AG. Schroeder announced in a joint press conference with visiting UAE Deputy Prime Minister and Minister of State for Foreign Affairs Sheikh Hamdan bin Zayed Al Nahyan, that the UAE and Germany signed during talks in Berlin yesterday an important document for making every effort to boost joint cooperation and action. The UAE, he said, ...  >>MORE

Hamdan, Schroeder visit DaimlerChrysler company

Posted on 28/04/2004

German Chancellor Gerhard Schroeder escorted UAE Deputy Prime Minister and Minister of State for Foreign Affairs Sheikh Hamdan bin Zayed Al Nahyan, on a visit to the branch of the German carmaker DaimlerChrysler. Schroeder and Sheikh Hamdan were welcomed upon arrival to the company by Erich Jonscher, Senior Vice-President, Sales Director of DaimlerChrysler Overseas. They toured the company's show of DaimlerChrysler models and were briefed on the latest technology of manufacturing cars. ...  >>MORE

Abu Dhabi steps up drive for long-term gains

Posted on 26/04/2004

Abu Dhabi is pushing ahead with a drive for profitable long-term investment with an agreement with Volkswagen this week to finalise one of its biggest financial deals. The initial agreement to buy 10 per cent of the German auto giant for an estimated US$1.9 billion opens a new stage in the emirate's investment map as it steers away from low return bank deposits and volatile global capital markets. Analysts said the deal, which is expected to be finalised in Berlin today, is one of the ...  >>MORE

Hamed bin Zayed meets Jurong company chief

Posted on 22/04/2004

Sheikh Hamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council and Chairman of the Abu Dhabi Economic Department yesterday in Beijing met with President of Jurong company in China. During the meeting, avenues of cooperation between the two countries in the field of investment in China were discussed. The UAE team also acquainted itself with major industrial ventures. Jurong company is considered a strategic partner of the Abu Dhabi Economic Department. The meeting was attended by ...  >>MORE

Kharbash hails signing of UAE, US trade agreement

Posted on 17/03/2004

UAE Minister of State for Finance and Industry Dr. Mohammed Khalfan bin Kharbash hailed the signing of the Trade and Investment Framework Agreement (TIFA) in Washington D.C. on Monday as "a significant moment in the history of the relationship between the United States of America and the United Arab Emirates". The TIFA was signed by Dr. Kharbash and US Trade Representative Robert B. Zoellick. Following the signing of this framework agreement, which aims to foster an open and predictable ...  >>MORE

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