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The Eighth Meeting of the UAE-German Joint Economic Commission will open in Abu Dhabi tomorrow. Minister of Economy Sultan bin Saeed Al Mansouri and German Minister of State for Economics and Technology Dr. Bernd Pfaffenbach will jointly chair the meeting.
The Commission will discuss ways to strengthen the frameworks of cooperation in various fields between the two countries. Among the important topics that will come up for discussion are small and medium enterprises, civil aviation, technology and knowledge-based economy, renewable energy, innovation, air transport and industry.
The Commission will also discuss ways to enhance bilateral trade and create a balance of exports and imports between the two countries, especially after the establishment of the UAE-German joint Council for Trade and Industry earlier in May 2009, which plays a pivotal role in promoting trade relations between the two countries.
Al Mansouri stressed the importance of this meeting, which will contribute to furthering relations and economic prospects between the two countries to advanced levels.
He expressed UAE’s commitment to begin a new era of excellent relations with Germany based on the maximum utilization of economic fundamentals and utilising the large investment potentials on both sides. He said that Germany is a strategic partner of the UAE, especially as it has extensive experience in various vital economic sectors such as small and medium enterprises and industry and alternative energy.
Al Mansouri stressed that the talks will be held with the German side on cooperation in the field of knowledge-based economy. This topic will receive special attention as it is a strategic objective of the UAE’s Federal Government, which continually seeks to instill through the adoption of emerging technologies and apply best practices.
He noted that the UAE has made important strides in this area especially as it possesses one of the latest sophisticated infrastructures in the world positioned to establish the concept of knowledge economy in all fields and areas of economic vitality.
It is expected that the meeting will witness signing of a number of memoranda of understanding for cooperation.
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