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UAE an anchor of stability' in the Middle East: Schroeder

posted on 06/03/2005: 619 views

German Chancellor yesterday lauded the UAE's development and termed it an "anchor of stability" in the Middle East. He also expressed Germany's keenness to have a long and fruitful cooperation with the UAE in a number of fields. Addressing delegates at the UAE-German Economic Forum held here today, which was also attended by Sheikha Lubna Al Qasimi, Minister of Economy and Planning, Schroeder said that Germany was ready and willing to enter into partnership with the UAE in a number of fields.

These included industrial, energy, IT, modern services and also tourism. He also said Germany was very interested in parallel co-operation in ecological programmes. The Chancellor said that the aim was to create conditions for greater cooperation not only with large and well-known German firms, but also companies in the small and medium sector in both countries.

He also welcomed the UAE initiative in investing in a major firm in Germany and said that flow of knowledge and business has to be a two-way street so that both parties can benefit. He called for more investments in other fields in the future.

Germany's largest trading partner in this region was the UAE and efforts are underway to create conditions that will boost cooperation in this sector, he said. Transfer of technology and know-how would also figure prominently in the bi-lateral cooperation, and Germany would share its expertise through joint ventures.

"Such long term mutual exchanges are necessary to build confidence and trust. This is Germany's philosophy in its relations with countries. There is a need for a new dynamic that should be injected in the world economy based on principles of long term relations and mutual benefit," he said.

Schroeder also reiterated his call for just oil prices as this would be in the economic interests of both consumers and producers. Hussein Al Nuwais, Board Member, General Holding Corporation, GHC, said in a speech at the forum, that German exports to the UAE exceeds 3.5 billion euros. There are 500 German companies operating in the UAE.

He also provided an overview of GHC's plans an programmes for Abu Dhabi emirate. (The Emirates News Agency, WAM)


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