European powerhouse signs up for Expo 2020 Dubai

Germany sets aside $61m to invest in its pavilion for the mega event
By Staff writer
Wed 28 Feb 2018 02:51 PM

Germany, Europe’s largest economy and one of the world’s leading supporters of renewable energy, on Wednesday sealed its EUR50 million ($61 million) investment in the next World Expo by signing an official participation in Expo 2020 Dubai.

Dietmar Schmitz, Commissioner General of the German Pavilion, and Najeeb Mohammed Al-Ali, executive director, Dubai Expo 2020 Bureau, signed the contract in Dubai.

Germany, which is the fourth largest economy in the world, said its national pavilion will be located in the Sustainability District at Expo 2020 Dubai, adding that its pavilion will be one of the largest.

Germany aims to raise its reliance on renewable electricity production from 17 percent today to more than 80 percent by 2050.

Reem Al Hashimy, UAE Minister of State for International Cooperation and director general, Dubai Expo 2020 Bureau, said: “The UAE and Germany share a vision of a cleaner, more sustainable future – something that is a key focus of Expo 2020 Dubai – and we are delighted that our close friends have become the latest nation to sign an official participation contract.

“Germany has long set a strong example to the rest of the world of the need to remember that our planet’s resources are finite and need to be cherished and preserved.

“Their involvement in Expo 2020 is not only a reflection of the close ties our two countries enjoy, but also of the importance that the international community places on World Expos as a platform to advance human progress.”

Schmitz added: “Expo 2020 will bring countries and organisations together to discuss the most pressing issues facing our world and to consider solutions together, with the joint aim of pointing the way forward.”

Germany and the UAE also share strong trade ties. In 2015, German imports from the UAE reached EUR900 million while the value of German exports to the UAE reached EUR14.6 billion.

Around 10,000 German citizens live in the UAE and more than 500,000 visited the country in 2017, a rise of 10 percent on the previous year.

Expo 2020 Dubai will run for six months from October 20, 2020 to April 10, 2021 and is expected to record 25 million visits, with 70 percent anticipated to come from outside the UAE.

More than 180 countries are expected to take part in Expo 2020 Dubai, and 170 nations have either publically or privately confirmed their participation to date.

For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Last Updated: Wed 28 Feb 2018 02:13 PM GST

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.