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Bavarian State Premier: economic development in Abu Dhabi and Dubai at breathtaking pace

posted on 23/03/2008: 645 views

The UAE has made a giant leap into the 21st century, and all of us are most impressed with the sheer amount of opportunities here (in the UAE), said HE Dr Guenther Beckstein, Premier of the German Federal State of Bavaria who on Thursday concluded an official visit in to the UAE. Beckstein held several meetings with high-ranking UAE officials in Abu Dhabi, Dubai and Ras Al-Khaimah.

Addressing a gathering of UAE and German business representatives in Dubai on Wednesday, Beckstein expressed his admiration for the UAE's economic progress: "When you see the breathtaking pace of economic development in Abu Dhabi and Dubai, you cannot help but feel the greatest respect and admiration for this country." The Bavarian Premiere was received on Wednesday by HE Sheikha Lubna bin Khalid Al Qasimi, UAE Minister of Foreign Trade.

"I believe established economies like our own will have to step up one gear if they want to remain competitive with booming economies emerging in this part of the world," he remarked.

Beckstein was accompanied by Bavarian Economy Minister, Emilia Muller, and a high-profile Bavarian delegation comprised of more than 70 political, business and science leaders. The wealthy German State of Bavaria is home to the world's 17th-largest economy and globally acting corporations like Audi, Siemens, Allianz, BMW, and Adidas. The visit is aimed at strengthening business ties with the UAE, Germany's most important trading partner in the Middle East.

Commenting on the potential the UAE represents for the German economy, Dr. Peter Goepfrich, Delegate of the German Industry and Commerce Office for the UAE, Qatar and Oman, pointed out: "The UAE is now the largest export market for German business. About 600 German companies are already operating in the UAE and I am certain the trend will persist further."

Earlier on Tuesday, Beckstein had met with Sheikh Hamed bin Zayed Al Nahyan, Chief of the Abu Dhabi Crown Prince's Court and Chairman of the Higher Corporation for Specialized Economic Zones (ZonesCorp). During the meeting, Sheikh Hamed expressed willingness of the UAE in general and Abu Dhabi in particular to expand prospects of joint investment with the Bavarian state and reviewed mechanisms of boosting bilateral relations in economy, investment and tourism with his guests. During the visit, Beckstein also visited Sheikh Zayed Mosque and Sa'adiyaat Island in Abu Dhabi. – Emirates News Agency, WAM


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