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The United Arab Emirates together with the Federal Republic of Germany issued a joint statement during the occasional visit of HH Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi to Germany on seven main axes of international cooperation ranging from political cooperation, economic affairs, energy, humanitarian assistance, culture, education and research, environment and climate change. All these themes are important.
We as Media IN shall address the second axis of economic affairs to highlight on the investment opportunities available based on the outcome of the joint statement and the historic visit of His Highness the Crown Prince.
The UAE and Germany are big economic burdens once they agree to increase economic cooperation and boost trade and investment, but the world’s attention is turned to monitoring those generous trade opportunities.
The Germans have learnt from this joint statement that the establishment of a new special consultative status for German companies in the DMCC free zone will facilitate their business, especially supporting Dubai-based small and medium-sized businesses abroad.
The joint statement did not overlook any economic aspect that any businessman could think of, such as aviation, space exploration, tourism, education, transportation, information technology, energy / traditional and renewable, and health care
During the meeting, emphasis was put on artificial intelligence or the so-called “Fourth Industrial Revolution” as one of the top priorities in cooperation between the two countries.
Prior, the Arab world used to import industrial products from Europe and the rest of the world and this had little impact on its economic development.
Today, the UAE has become an influential pole in the development of artificial intelligence industries to deepen in the aerospace industry and adopt a clear strategy for artificial intelligence in this area already preceded the German side. It is by coincidence that it was issued a year before Germany was issued.
The UAE’s Artificial Intelligence Strategy of October 2017 will be used to develop the German Artificial Intelligence Strategy of November 2018.
Yasir Almahri
2019/06/13
