It emerged last week that the governments of Germany and the United Arab Emirates have signed a memorandum of understanding (MoU) designed to increase economic and technical cooperation between the two countries.
The MoU, signed last Tuesday by the UAE's Deputy Prime Minister and Minister of State for Foreign Affairs, Sheikh Hamdan bin Zayed Al Nahyan, and German Chancellor, Gerhard Schroeder, will boost economic cooperation in areas such as industry, research, technology, trade, telecommunications, transport, agriculture, education, health, and vocational training.
The two governments have also been in talks regarding the strengthening of investment links between the UAE and Germany. Speaking to Gulfnews.com last week, Sheikh Hamdan confirmed this, explaining that:
"The UAE is ready to extend all possible assistance and facilities to potential German investors in its free market economy." He went on to add that:
"The active participation of Germany's Chancellor Gerhard Schroeder in activities during the visit underlines Berlin's desire to further develop these relations."
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