Bilateral trade between Dubai and Germany reaches 24.6 billion Dhs in 2020
Shoppers wear masks and fill Cologne’s main shopping street, Hohe Strasse, in western Germany. File / Reuters
Bilateral trade between Dubai and Germany reached 24.6 billion Dhs in 2020 and will continue to grow given the ease of doing business and the flexible ecosystem of Dubai, according to a senior official at Dubai Silicon Oasis Authority (DSOA).
Dubai Silicon Oasis also provides extensive facilities to streamline setup and business operations, attracting hundreds of international tech companies, added Dr Mohammed Al Zarooni, DSOA Vice President and CEO, while welcoming Ambassador Ernst Peter Fischer. from Germany to the United Arab Emirates, to DSOA Headquarters in Dubai.
Dr Al Zarooni reiterated DSOA’s commitment to provide an enabling environment for German and international companies to establish and develop their business in this region. He also underlined DSOA’s commitment to embody its appointment as a science, technology and knowledge hub – one of the five urban centers in the Dubai 2040 Urban Master Plan – to support entrepreneurial creativity and enable entrepreneurs to establish their innovative technological concepts.
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For his part, the German Ambassador praised the enabling environment for entrepreneurs and startups in Dubai Silicon Oasis (DSO), a government-owned free zone, which is home to the regional headquarters of renowned multinational companies of different nationalities, including German companies.
He added that DSO provides a strong technological infrastructure and a conducive environment for entrepreneurs and startups, which are the essence of the digital economy, new employment opportunities and improves the flexibility of economic sectors to resume sustainable growth.
During his tour he was featured at the Dubai Digital Park (DDP), Dubai Technology Entrepreneur Campus (Dtec) and the new campus of Rochester Institute of Technology-Dubai (RIT-Dubai), exploring the advanced advancements of the technology park. of the integrated free zone. Infrastructure. It also looked at DDP’s advanced equipment that provides smart services to residents and visitors since the inauguration of the first smart city of its kind, built with an investment of over 1.5 billion Dhs, in early 2021. .
The Ambassador also introduced Anas Aljuaidi and Bernhard Randerath, co-CEOs of the UAE-German Institute for the UAE-German Fourth Industrial Revolution. Dr Al Zarooni welcomed the initiative to strengthen strategic and economic relations between the two countries. He was also invited to the next inauguration of the UAE-German Institute scheduled for July 2, 2021 in Aachen, Germany.
Having recently completed the first phase of its construction, Ambassador Fischer also visited the new state-of-the-art campus of RIT-Dubai, the US technology-focused university of DSO, and toured its innovation labs. Fischer praised the UAE-Germany relationship, which continues to grow in all disciplines. He reiterated that the UAE has the competitive advantage to attract German and international direct investment, especially in the high-tech and renewable energy sectors. Dubai’s non-oil foreign trade rebounded strongly after challenges posed by the global economic impact of COVID-19 and the suspension of trade activity of countries around the world in the first half of last year to record high growth in 2020.
Boosted by its resistance to global headwinds, as well as by its rapid economic recovery and revitalized growth in the second half of the year, Dubai’s foreign trade in 2020 reached 1,182 trillion dirhams. Total trade volume in 2020 reached 100 million tonnes, driven by 6% year-on-year volume growth in the second half of the year. The overall value of exports in 2020 increased by 8% to reach 167 billion Dhs, while imports amounted to 686 billion Dhs and re-exports totaled 29 billion Dhs.
Innovative Solutions: The UAE government has developed innovative and efficient solutions to energy and infrastructure challenges, as part of the first batch of the “Nothing is Impossible Hackathon” model for students of national and international universities.
The Hackathon, hosted by the Ministry of Opportunity, aimed to increase student participation in designing the next generation of government practices to support government efforts in preparing for the future.
The first batch of the hackathon focused on the development of innovative and effective solutions to four main challenges defined by the Ministry of Energy and Infrastructure, including “energy consumption in buildings, traffic congestion, mitigation floods and the sustainable aviation fuel challenge ”. The UAE government honored the students participating in the Hackathon, in the presence of Suhail Bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, Ohood bint Khalfan Al Roumi, Minister of State for Government Development and future, Abdulla Nasser Lootah, Director General of the Prime Minister’s Office at the Ministry of Cabinet Affairs, as well as a number of senior officials.
Suhail Al Mazrouei stressed that the ministry supports the active participation of university students in shaping the future of energy, infrastructure, housing and transport in the UAE, through an ambitious vision that develops tools and mechanisms to ensure the readiness of the United Arab Emirates for the next fifty years.