Saturday 27 November 2021

Dr Nicole Hoffmeister-Kraut

German state to further expand trade with UAE

DUBAI, October 5, 2021

Baden-Württemberg, a German state that has set up an independent pavilion at Expo 2020 Dubai, wants to expand the existing "strong relationship" with the UAE, which is its largest trading partner in the Gulf.
Dr Nicole Hoffmeister-Kraut, Minister of Economic Affairs, Labour and Tourism of Baden-Württemberg, said that the bilateral trade between her state and the UAE in 2020 was valued at around €1 billion ($1.16 billion), with machinery and automobile parts as major exports from the state.
This can be expanded to include multiple sectors such as clean energy, artificial intelligence (AI), tourism, construction and healthcare, she said in an exclusive interview with WAM.
Elaborating on the potential partnership in the clean energy sector, she said the UAE can be a strong partner in producing clean energy in her state. "In general, I think the whole world is in the middle of a huge transition process (on) how to produce clean energy, and so we would like to work closely together with UAE (in energy transition)."
Hoffmeister-Kraut said: "We have challenges. We have to transform our energy sector, (for which) hydrogen is very important for us."
According to the Abu Dhabi-headquartered International Renewable Energy Agency (Irena), energy transition is a pathway toward the transformation of the global energy sector from fossil-based to zero-carbon by the second half of this century. At its heart is the need to reduce energy-related CO2 emissions to limit climate change.
The minister further emphasised: "I think there are a lot of opportunities for our two countries."
About a potential partnership in artificial intelligence (AI), she said AI is one of the basic future technologies and her state has great scientists and institutions in this sector that helps the deployment of AI in wider areas of the economy, which is mainly export-oriented.
The minister, who inaugurated Baden-Württemberg House, the state’s pavilion at the Expo 2020, added: "The expo is a very good opportunity to showcase our strengths. We combine innovation with sustainability in our pavilion. We present the opportunities our companies can offer to the world. We welcome the world here."
Baden-Württemberg is the third biggest state in Germany in terms of area and population (11 million). Located in Germany’s Southwest corner and neighbour to three other German States, the state lies at the very heart of Europe and shares borders with three European countries.-- TradeArabia News Service


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