German-Gcc Bi-Lateral Relations on High-Growth Path as Trade Totals €16.98 Billion
Trade volumes between the GCC and Germany, one of the world's leading exporting nations, have more than doubled over the last decade, according to figures released by the Arab German Chamber of Commerce and Industry.
- Albany, GA (1888PressRelease) January 24, 2012 - Bi-lateral trade ties between Germany and the countries of the Gulf Cooperation Council (GCC) are strong and expected to grow steadily thanks to the ongoing process of mutual co-operation and engagement between the governments involved and the private sectors within these countries. This was the sentiment expressed by German Parliamentary State Secretary of the Federal Ministry for Economy and Technology, H.E. Mr. Hans-Joachim Otto, at a press conference marking the 10th anniversary in the region of German trade fair organiser, Messe Frankfurt and its plans for regional expansion. Mr. Hans-Joachim Otto, said: "The GCC represents one of the most significant trading partners for Germany, being among the leading consumers of German products and services. Our relations have been historically strong and they continue to grow, thanks to greater interaction and mutual engagement."
Trade volumes between the GCC and Germany, one of the world's leading exporting nations, have more than doubled over the last decade, according to figures released by the Arab German Chamber of Commerce and Industry. In 2010 the trade between the two was worth €16.98 billion (AED 79.53 billion), placing the GCC amongst the leading export markets for German products.* In 2010, Germany was Saudi Arabia's third largest trading partner with exports to the Kingdom totalling €5.7 billion (AED 25.28 billion). This was up by 17.9% from 2009.
Wolfgang Marzin, Chairman of the Board of Management of Messe Frankfurt, said: "Trade events are strong platforms for companies and manufacturers of products and services to gain access to new and untapped markets. Over the years of organising trade events around the world we have tried to tailor our portfolio to closely match the requirements of our partners and the regions they serve. The Middle East has developed into one of our most exciting regions, with our events enjoying great patronage and achieving encouraging and growing results."
The growth of Epoc Messe Frankfurt, the Dubai subsidiary of Germany's leading trade fair organiser, mirrors the success of German-GCC trade, with the company rapidly growing its portfolio of events over the last 10 years to become one of the leading organisers of trade and networking events in the region. To mark its significant success and growing reach, the company has recently moved to an office premises in the heart of Dubai, expanding its space by 80% and increasing its employee strength by 41% to meet the growing needs of its partners in the region.
"These ten years have been an extremely encouraging time for us. We have seen growth and development of our portfolio, enjoyed the support of local authorities and risen to become significant players in the market," said Ahmed Pauwels, CEO of Epoc Messe Frankfurt, the company's Dubai-based subsidiary. "Going forward we look to doing even better, growing and adapting to meet the changing requirements of this rapidly-developing region. We will in the future add new events and alter existing ones as we keep in mind the needs of our partners."
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