The forum was arranged in collaboration with the German-Arab Chamber of Industry and Commerce (GACIC), for a delegation of businessmen and investors in several vital sectors from Germany, and attended by His Excellency Abdullah Sultan Al Owais, Chairman of the SCCI, Dr. Peter Ramsauer, President of GACIC, along with representatives from the local private sector and the Sharjah International Airport Free Zone (SAIF Zone).
Speaking on the occasion, Abdullah Sultan Al Owais said, “The forum is a significant step towards enhancing economic cooperation and developing relations between the business communities at various levels.”
Al Owais emphasized the strength of the UAE-Germany relations, especially considering the outstanding results of the two countries' comprehensive strategic partnership since 2004.
“Exceptional economic relations between the two nations resulted in over 8.8 billion euros of trade exchange in 2020,” Al Owais maintained, adding “There are more than 1000 German companies operating in the UAE across various sectors, with a total investment of about 6.7 billion euros.”
He further added that this has made GCC countries the seventh-largest export destination for German industry outside Europe.
According to the SCCI Chairman, these figures provide a solid foundation for strengthening bilateral trade relations between the business communities of both countries and opening new channels of communication, which will aid in the development of mutual trade movement.
Dr. Ramsauer, President of GACIC, also stressed the significance of Sharjah as an investment destination for German enterprises, citing the emirate's excellent business environment.
He highlighted the importance of intensifying efforts to improve bilateral relations for future growth and prosperity, which would aid in the exploration of investment opportunities in various sectors, serve the business community's interests, and support the private sector's aspirations at the trade and investment levels.
Ramsauer lauded the SCCI's efforts in organizing the forum and the facilities it provides to German businessmen and their companies operating in the emirate. He invited Emirati investors to visit his country and learn about the most vital investment opportunities in various sectors.
Shabib Ibrahim Khatib, Sales Executive, SAIF Zone, gave a presentation on the advantages provided by the SAIF Zone to investors. This included 100 percent foreign ownership of businesses, 100 percent repatriation of capital and profits, 100 percent corporate or personal income tax exemptions and 100 percent import and export tax exemptions.
In addition to state-of-the-art warehouses and offices at competitive prices, SAIF Zone provides equipment, workers and shipping services 24/7, making it the perfect destination for investment in the Middle East.
Several German companies emphasized the benefits offered in a variety of business sectors, expressing their desire to expand their investments in Sharjah to take advantage of the supportive environment, sophisticated infrastructure, and strategic location that would help them penetrate Gulf markets.
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