The key facts
- Sheikh Mohamed and Katherina Reiche discussed the economy, investment and energy within the framework of the UAE–Germany strategic partnership
- The meeting took place a day after talks with Bavarian Minister-President Markus Söder
- The UAE's €40 billion investment plan for Germany was announced during the state visit in September
Talks in Abu Dhabi
UAE President Sheikh Mohamed bin Zayed held talks in Abu Dhabi on Tuesday with Germany's Minister of Economy and Energy Katherina Reiche. The sides discussed expanding relations between the two countries, with a focus on the economy, investment and energy within the framework of the existing strategic partnership. The meeting was reported by The National.
Context: visits and the investment plan
Reiche's visit is linked to the Adipec energy conference, which is attended by dozens of ministers from around the world. The day before, Sheikh Mohamed received Bavarian Minister-President Markus Söder in Abu Dhabi on a working visit: the sides emphasized their readiness to strengthen cooperation between the emirates and Bavaria and summed up the results of Sheikh Mohamed's state visit to Germany in September. It was then that the UAE announced plans to invest €40 billion ($46.47 billion) in the German economy — in industry, advanced technology, artificial intelligence, digital infrastructure and energy. A quarter of the sum, €10 billion, will go to Bavaria; the creation of a UAE–Germany Investment Council and the launch of a strategic dialogue between the two countries were also agreed.
Economic significance
Germany remains the UAE's second-largest trading partner within the European Union: it accounts for about 20% of the emirates' total non-oil foreign trade with the bloc. At a business roundtable between representatives of the UAE and Bavaria, Deputy Head of the Ministry of Foreign Trade Fahad Al Gergawi said that Germany remains one of the UAE's most important economic partners in Europe, and Bavaria's strengths open up scope for deeper cooperation. Söder, for his part, noted that Bavaria's world-renowned expertise in industry, technology and innovation complements the UAE's role as a globally connected trade and investment platform. Earlier, in September, the German minister also stated that supply chain disruptions make the UAE's $40 billion investments in Germany especially important — this underscores that the November meetings in Abu Dhabi continue the line set by the September visit.
