Describing Saudi Arabia and United Arab Emirates as leading markets for the Europe's largest economy Germany, Hans-Joachim Otto, German parliamentary state secretary of the Federal Ministry for Economy and Technology said the bilateral trade between Germany and the Gulf Cooperation Council (GCC) is expected to grow as the mutual cooperation between the governments and the private sectors in these countries, are on the high path. Addressing a press conference marking the 10th anniversary of the German trade fair organizer, Messe Frankfurt and its plans for regional expansion here recently, he said the GCC represented one of the most significant trading partners for Germany: “Our relations have been historically strong and they continue to grow, thanks to greater interaction and mutual engagement,” he said. Trade volumes between the GCC and Germany 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 the same year, Germany was Saudi Arabia's third largest trading partner with exports to the Kingdom totaling €5.7 billion (AED 25.28 billion) representing a 17.9 percent increase as compared to 2009. The UAE was the largest buyer of German products in the Arab world, importing €7.5 billion (AED 35.13 billion) worth of goods, making Germany its fourth largest trading partner. Wolfgang Marzin, Chairman of the Board of Management of Messe Frankfurt, said the 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.,” he said. “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.
