SCCI, German-Arab Chamber to strengthen economic & trade ties

By Shilpa Annie Joseph, Official Reporter
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Sharjah Chamber of Commerce and Industry (SCCI) has discussed new ways to strengthen economic and trade ties with the German-Arab Chamber of Industry and Commerce (GACIC).

At a forum jointly organized by SCCI and GACIC, the Sharjah Chamber called on German businessmen and investors to explore investment opportunities within the emirate’s business community.

According to the statement, the forum was organized for a delegation of businessmen and investors in several vital sectors from Germany.

Abdullah Sultan Al Owais Image
Abdullah Sultan Al Owais
Chairman – SCCI

“The forum is a significant step towards enhancing economic cooperation and developing relations between the business communities at various levels. He also highlighted the strength of UAE-Germany relations, especially considering the outstanding results of the two countries’ comprehensive strategic partnership since 2004. This has made Gulf Cooperation Council (GCC) countries the seventh-largest export destination for German industry outside Europe. These figures provide a solid foundation for strengthening bilateral trade relations between the business communities of both countries and opening new communication channels.”

Dr. Peter Ramsauer, President of GACIC, emphasized the significance of Sharjah as an investment destination for German enterprises, citing the emirate’s excellent business environment.

Dr. Ramsauer noted “the importance of intensifying efforts to improve bilateral relations for future growth and prosperity, which would aid in exploring investment opportunities in various sectors, serve the business community’s interests, and support the private sector’s aspirations at the trade and investment levels.”

Mr. Shabib Ibrahim Khatib, Sales Executive, SAIF Zone, presented the advantages offered by the SAIF Zone to investors. This included 100 percent foreign ownership of businesses, 100 percent repatriation of capital and profits, 100 percent corporate or personal income tax exemptions, and 100 percent import and export tax exemptions.

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