UAE to Invest €40 Billion in Germany
For the first time, a president of the United Arab Emirates has come to Germany on a state visit. Both countries plan to deepen their ties - and invest heavily.
Berlin (dpa) – Germany and the United Arab Emirates (UAE) want to revitalise the strategic partnership they established more than two decades ago. This was agreed by Germany’s Federal Chancellor Friedrich Merz and UAE President Mohamed bin Zayed in Berlin.
According to a joint declaration, the intention is to deepen cooperation across sectors such as international and regional security, defence, trade and investment, energy and climate, emerging technology, digitisation, business, transport, environment, culture and education.
Substantial investment
The United Arab Emirates announced plans to invest a further 40 billion euros in Germany. This will more than double the 34 billion or so euros that the Gulf state has invested in the German economy to date. During the visit, 29 business agreements between German and Emirati firms were reportedly signed, worth nearly 9.4 billion euros in total.
Federal President Frank-Walter Steinmeier had welcomed the guest from the Gulf state with military honours. This is the first ever state visit to Germany by a president of the United Arab Emirates.
Human rights organisations have criticised the closer ties with the UAE. A demonstration was held in Berlin to protest against the cooperation with the UAE and its role in Sudan.
