The United Arab Emirates and Germany firmed up their commitment to further strengthen their relations at the conclusion on Tuesday of the two-day 7th Session of the UAE-German Joint Commission on Economic, Trade, and Technical Cooperation held in Berlin. The UAE delegation was led by Eng. Sultan Bin Saeed Al-Mansouri, Minister of Economy, while Dr. Bernd Pfaffenbach, State Secretary of Germany's Federal Ministry of Economics and Technology, headed the German side. The two sides emphasized the positive results produced by the session, pointing out that the discussions were very fruitful and led to a comprehensive agenda for improving bilateral relations between the two countries. They also agreed on a number of key initiatives such as increasing investment, developing bilateral commercial information exchange, strengthening enforcement of intellectual property rights, and amending the bilateral agreement on preventing double taxation. In addition, the participants called for more support for programs promoting renewable energy and energy efficiency and encouraged the mutual sharing of experiences in various fields among public and private sectors. The parties also agreed to prepare memorandums of understanding on health; to cooperate in the fields of irrigation, organic and fish farming and other basic agricultural techniques; and to expedite the transfer of technology and expertise in areas such as water management and sanitation. The strong partnership pushed the trade volume to 7 percent increase over 2006 to 5.2 billion euros in 2007. The UAE delegation presented a report on the country's annual growth target and discussed the improvement of German investments coming to the country. They also requested for technical assistance in the areas of inspection and industrial standards as well as advice on telecommunications regulations, specifically in the field of satellite broadcasting. The German side lauded the UAE's support for the International Renewable Energy Agency and expressed their gratitude for the UAE's accession to issue certificates of origin on paper, instead of electronically. They also discussed export challenges posed by a high euro exchange rate and encouraged the UAE to sign the Convention on Maritime Transport. The two sides agreed to hold the eighth meeting of the joint committee in the UAE in 2010. Al-Mansouri reiterated UAE's commitment to maintaining strong relations with the Federal Republic of Germany. He encouraged both countries to explore further avenues of cooperation for their mutual benefit, referring to the large number of bilateral cooperation agreements that have been signed between the two countries in recent years, covering areas such as the promotion and protection of business and investment; the prevention of double taxation; and a memorandum of understanding in the fields of economy, trade and technical cooperation. Al-Mansouri said the annual average growth rate in non-oil bilateral trade between the UAE and Germany rose 24 percent to $6.19 billion in 2006 over $2.63 billion in 2002, with UAE exports concentrated on primary commodities such as basic metals; fabrics; stone materials; ceramic and glass products; and animals, pointing out that most of the trade favored Germany. However, UAE's trade deficit with Germany rose from $2.4 billion in 2002 to $5.7 billion in 2006. The minister said three levels of action are required to reduce this deficit: increase the supply of exported manufactured UAE goods in German trade fairs; boost service exports, particularly to encourage German citizens to explore the UAE's relatively cheap tourism sector and capitalize on the strength of the euro against the dollar; and increase German investments in the UAE. He acknowledged the need for the UAE to be supported by German expertise in the technical and industrial fields, and emphasized the need for joint cooperation to develop trade and investment links to mutually benefit both countries. He likewise called for a better understanding of investment opportunities in Germany, adding that positive measures would be undertaken to achieve these goals through the work of the joint commission. The UAE has plans to modernize laws and legislation that focus on strengthening economic performance and improving growth in various sectors, he added. Pfaffenbach confirmed the importance of establishing an Emirati-German Chamber of Industry and Commerce, preferably by next year, pointing out its important role in supporting small-to-medium sized enterprises. He said also that Germany is keen on the creation of a free trade agreement between the EU and the Gulf, saying that it would strengthen economic ties and lead to the establishment of important strategic relationship between both sides. __
