German business group sees growth opportunities in the GCC

German business group sees growth opportunities in the GCC

German companies are optimistic about their growth prospects in the Gulf region, as key government leaders and business executives from Germany and the GCC countries attended a top-level conference in Dubai recently. With a combined population of about 55 million and a total GDP of more than $1.65 trillion, the GCC offers tremendous potential for German companies, delegates of the Gulf Future Conference held at the Jumeirah Emirates Towers were told in the presence of UAE Minister of State for Advanced Technology Sarah Bint Yousif Al Amiri, who discussed economic and trade opportunities during her speech at the opening session of the biannual meet. “For the German economy, the United Arab Emirates and the rest of the GCC are not only important markets, but enormous partners in this part of the world – a relationship that goes beyond trade," said Ralf Wintergerst, Chairman of the North Africa Middle East Initiative of German Business, NMI, an organisation dedicated to fostering bilateral business ties between Germany and the MENA region. "Together with their local partner companies, German firms work together deep into the value chain – for example in the areas of research and innovation, the energy transition or digitisation,” he added.