Middle East Business: German companies eye expanding business in Sharjah – Gulf Digital News

Middle East Business: German companies eye expanding business in Sharjah – Gulf Digital News

A number of German firms have expressed their desire to expand investments in Sharjah to take advantage of the supportive environment, sophisticated infrastructure and strategic location.

At a forum organised by the Sharjah Chamber of Commerce and Industry (SCCI), Dr Peter Ramsauer, President of German-Arab Chamber of Industry and Commerce (GACIC), stressed the significance of Sharjah as an investment destination for German enterprises, citing the emirate's excellent business environment.

Abdullah Sultan Al Owais, Chairman of the SCCI, said: “Exceptional economic relations between Germany and UAE resulted in over 8.8 billion euros ($9.79 billion) of trade exchange in 2020.”

“There are more than 1,000 German companies operating in the UAE across various sectors, with a total investment of about 6.7 billion euros.”

GCC export destination

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.

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