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Representative office in Abu Dhabi


Our gateway to the Gulf States

Our representative office in Abu Dhabi, the largest emirate in the Federation of United Arab Emirates (UAE), supports the activities of KfW IPEX-Bank in the countries of the Gulf Cooperation Council (GCC). In addition to the UAE, Bahrain, Qatar, Kuwait, Oman and Saudi Arabia are also members of the GCC. The representative office maintains contact with the customers and financial institutions in the region and analyses the local markets in order to identify new business opportunities for the bank and its customers.


Dynamic sales market for German companies

The Gulf States are an interesting and important market for German and European companies. Large oil and gas reserves are the basis for powerful economic dynamics, intensified by increasing consumer needs of a predominantly young population. In the course of the years, the region has also increasingly gained importance for the German export economy due to its strategically favourable location between Europe, Asia and Africa. The Gulf States were again among the top target countries for German products outside of Europe in 2014: with EUR 25 billion they came fourth after the USA, China and Russia.


Diversification of the economy – a challenge for the future

The GCC countries have been striving for years to reduce the dependency of their economies on oil exports. The basis for economic development and value creation is to be broadened to ensure sustainable growth and wealth in the future: an expansion of the oil and gas processing sectors and the industrial basis as well as investment in the fields of logistics and tourism are to further increase economic viability in the coming years and decades.


A wide range of opportunities for German exporters

Large events of global acclaim such as the EXPO 2020 in Dubai added impetus to the further expansion of infrastructure. In addition to the traffic infrastructure, the reliability of electricity and water supply is of particular importance. Renewable energy sources will play an increasingly significant role. This will provide for a wide range of opportunities in the future for German and European companies.

At a glance - Gulf Cooperation Council (GCC)*

Countries and inhabitants

  • Member states: Bahrain, Qatar, Kuwait, Oman, Saudi Arabia, United Arab Emirates (UAE)
  • Inhabitants: around 45 million
  • Average age: around 28

Economy

  • GDP: around USD 1,700 billion
  • Income per capita: around USD 35,000
  • Average economic growth (2010-2014): 5.5%
  • Share in world oil reserves: 30%
  • Share in world gas reserves: 22%

Trade relations

  • German exports to GCC countries in 2014: around EUR 25 billion
  • Fourth largest export market outside of Europe, after the USA, China and Russia
  • Average growth of German exports to the GCC region (2010-2014): 12.8%
  • Important export product groups: motor vehicles EUR 4.3 billion; machines and mechanical equipment EUR 4.3 billion; aircraft EUR 3.9 billion

*as at end of 2014

KfW IPEX-Bank's representative office in Abu Dhabi does not conduct any bank business of its own. Instead, its sole function is to support the bank's headquarters in Frankfurt.