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UAE-German economic ties to benefit Arab causes, says Al Midfa

SHARJAH - Ahmed Al Midfa, Chairman of the Sharjah Chamber of Commerce and Industry, highlighting the development of the ties between the UAE and Germany, said the strong economic relations would eventually benefit the Arab causes in fields such as tourism.

Addressing the UAE-German Partnership Forum in Essen, he said: "We cannot separate economy from politics as they both became two sides of a coin, and the Germans' attitude towards us is quite encouraging."

Speaking about the impact of the UAE's plan to sign a free trade agreement with the US and the agreement signed between the AGCC countries with the European Union (EU), Al Midfa assured that the UAE acts swiftly under the umbrella of the AGCC countries and that the UAE's relation with Germany will support this cooperation and the agreement would have any negative impact on the other.

"This Forum would be for the interest of the UAE as well as for Germany. Germany is an international economic power and the UAE is open to attract foreign investments," he added.

Al Midfa said that there are many German companies operating in Sharjah which all play a vital role in developing the UAE's projects.

"The Forum is a good chance to strengthen this relationship and show our readiness to create a strong mutual base that benefit both parties," he said.

Al Midfa pointed out that some information about Sharjah and its investment environment, infrastructure and other services could be easily provided to any investors seeking to set up business in the emirate, with the help and directions of the Sharjah Chamber.

"Along with our free zone, the market in Sharjah is open for every investor to set up projects, especially the industrial ones which have the most facilitation. They benefit from the tax free business and the easy access to data and statistics about the local market," he added.

He said that Sharjah will discuss with the German investors a number of services and tourism projects, in addition to other educational projects which the emirate is promoting in cooperation with Germany.

"We would like Germany to be with us as an active and effective partner, especially that the investment environment in Sharjah is quite suitable for businessmen," he added.

Saeed Abdullah Al Jarwan, Director General of the Sharjah Chamber, presented 20 projects to the German investors in petrochemicals, hotels and tourism, food, building materials and converted industries.