The Fort Worth Press - Merz heads to Gulf as Germany looks to diversify trade ties

USD -
AED 3.672503
AFN 62.501001
ALL 82.894362
AMD 377.440302
ANG 1.790083
AOA 917.00052
ARS 1397.044025
AUD 1.429215
AWG 1.8
AZN 1.692445
BAM 1.689807
BBD 2.011068
BDT 122.513867
BGN 1.709309
BHD 0.377467
BIF 2965
BMD 1
BND 1.277469
BOB 6.900038
BRL 5.235901
BSD 0.998523
BTN 93.323368
BWP 13.643963
BYN 2.973062
BYR 19600
BZD 2.008078
CAD 1.373545
CDF 2273.000133
CHF 0.787095
CLF 0.023076
CLP 911.180127
CNY 6.880502
CNH 6.887745
COP 3711.32
CRC 465.684898
CUC 1
CUP 26.5
CVE 95.250172
CZK 21.071007
DJF 177.719702
DKK 6.440602
DOP 59.875015
DZD 132.584589
EGP 52.340596
ERN 15
ETB 157.374954
EUR 0.86198
FJD 2.216402
FKP 0.749521
GBP 0.745135
GEL 2.714989
GGP 0.749521
GHS 10.905021
GIP 0.749521
GMD 72.999773
GNF 8779.999527
GTQ 7.648111
GYD 208.902867
HKD 7.83455
HNL 26.5202
HRK 6.494703
HTG 130.780562
HUF 334.426994
IDR 16869
ILS 3.11565
IMP 0.749521
INR 93.32665
IQD 1310
IRR 1315050.00006
ISK 123.779935
JEP 0.749521
JMD 157.274927
JOD 0.709027
JPY 158.5555
KES 129.502932
KGS 87.450267
KHR 4015.000133
KMF 424.999439
KPW 900.003974
KRW 1494.150262
KWD 0.30643
KYD 0.832131
KZT 481.288689
LAK 21550.000465
LBP 89550.000127
LKR 313.539993
LRD 183.596182
LSL 16.930263
LTL 2.95274
LVL 0.60489
LYD 6.394992
MAD 9.362015
MDL 17.464295
MGA 4165.00029
MKD 53.093953
MMK 2099.452431
MNT 3566.950214
MOP 8.056472
MRU 40.109616
MUR 46.569728
MVR 15.449812
MWK 1737.000149
MXN 17.806885
MYR 3.925001
MZN 63.909802
NAD 16.819595
NGN 1380.149729
NIO 36.719869
NOK 9.743205
NPR 149.304962
NZD 1.71015
OMR 0.384521
PAB 0.998475
PEN 3.472991
PGK 4.305498
PHP 59.685015
PKR 279.249653
PLN 3.672435
PYG 6524.941572
QAR 3.64401
RON 4.391901
RSD 101.273016
RUB 81.931677
RWF 1460
SAR 3.754344
SBD 8.051718
SCR 14.520415
SDG 601.000173
SEK 9.33575
SGD 1.275895
SHP 0.750259
SLE 24.549781
SLL 20969.510825
SOS 571.496482
SRD 37.336502
STD 20697.981008
STN 21.167495
SVC 8.736371
SYP 110.564047
SZL 16.849933
THB 32.469797
TJS 9.540369
TMT 3.5
TND 2.904983
TOP 2.40776
TRY 44.343698
TTD 6.778753
TWD 31.876796
TZS 2595.000039
UAH 43.841339
UGX 3769.542134
UYU 40.685845
UZS 12204.999854
VES 456.504355
VND 26341
VUV 119.226095
WST 2.727792
XAF 566.728441
XAG 0.014437
XAU 0.000226
XCD 2.70255
XCG 1.799457
XDR 0.706079
XOF 568.501353
XPF 103.393234
YER 238.650041
ZAR 16.87083
ZMK 9001.197429
ZMW 19.346115
ZWL 321.999592
  • RBGPF

    -13.5000

    69

    -19.57%

  • CMSD

    0.0816

    22.74

    +0.36%

  • CMSC

    0.2300

    22.88

    +1.01%

  • GSK

    0.1500

    51.99

    +0.29%

  • BCE

    -0.0300

    25.76

    -0.12%

  • AZN

    0.4700

    184.07

    +0.26%

  • BCC

    3.5800

    71.88

    +4.98%

  • BTI

    0.5500

    57.92

    +0.95%

  • NGG

    0.0700

    82.06

    +0.09%

  • RIO

    2.6900

    85.84

    +3.13%

  • RELX

    0.4500

    33.81

    +1.33%

  • RYCEF

    0.7500

    16.05

    +4.67%

  • JRI

    -0.0900

    11.68

    -0.77%

  • VOD

    0.1500

    14.48

    +1.04%

  • BP

    -1.2100

    43.57

    -2.78%

Merz heads to Gulf as Germany looks to diversify trade ties
Merz heads to Gulf as Germany looks to diversify trade ties / Photo: © AFP/File

Merz heads to Gulf as Germany looks to diversify trade ties

German Chancellor Friedrich Merz headed to Saudi Arabia on Wednesday to kick off a Gulf tour as the biggest EU economy seeks to diversify its key trade and energy partnerships.

Text size:

In a turbulent world where US President Donald Trump has rocked long-standing transatlantic security and economic ties, Germany is racing to cement alternative relationships worldwide.

Joined by a business delegation, the conservative leader will meet with Saudi Crown Prince Mohammed bin Salman, then travel to Qatar and the United Arab Emirates on his whistlestop tour until Friday.

"In the geopolitical environment in which we operate, we must intensify our partnerships with important and influential states in the world. The Gulf states are among them," a senior German official said ahead of Merz's trip.

A second official said Germany wanted to "strengthen trade and export opportunities, increase and incentivise foreign investment" and "diversify our supply chains... especially in the energy sector".

Germany has long exported defence goods and sealed major infrastructure deals in the Gulf region, whose wealthy monarchies have in turn used their energy riches to invest in German corporate giants from Volkswagen to Deutsche Bank.

When Russia's 2022 invasion of Ukraine led to sharply lower Russian energy supplies, Berlin turned to Doha to step up liquefied natural gas imports that got it through the following winter.

Berlin has now accelerated efforts to lessen its reliance on American LNG and wants to increasingly bank on green hydrogen generated through clean energy to achieve its climate targets.

Saudi Arabia and other Gulf states have meanwhile been moving to diversify away from oil and gas, investing heavily in sectors from renewables to tourism, logistics and AI.

- Regional tensions -

"In times of geopolitical tension and a global realignment, further intensifying relations with the Gulf States sends an important signal," said the Federation of German Industries.

The business group called on Berlin to "serve as a driving force" in ongoing negotiations on a free-trade deal between the EU and the UAE, and eventually with the Gulf Cooperation Council.

Merz visited India last month shortly before the EU and the South Asian giant sealed a trade deal cheered by Berlin, which is also pushing for quick implementation of an agreement with South America's Mercosur bloc.

Andreas Lenz, an economic and energy policy expert from Merz's CDU/CSU parliamentary group, said the Gulf held significant potential for German business.

"The region is very interested in German technology," including in the auto, chemical, mechanical engineering and medical tech sectors, Lenz told Phoenix TV.

On the issue of whether Merz would also address human rights concerns in the region, Lenz said that any overt displays of "moral arrogance" would be "rather counterproductive".

A government spokesman on Wednesday said only that "certainly topics where we have differing opinions will be addressed".

As an export-driven economy, Germany values stability in the Middle East, in part to safeguard key shipping lanes.

Merz is visiting Riyadh, Doha and Abu Dhabi at a time of high political tensions centred on Iran after it launched a bloody crackdown on demonstrators.

Merz has not held back with his disdain for the leadership in Tehran, last week condemning "a regime that can only hold onto power through sheer violence and terror against its own population".

Germany, with its dark history of World War II and the Holocaust, has for decades been a steadfast ally of Israel, but also criticised it for its conduct during the war in Gaza.

Merz will also be visiting the UAE as it hosts the latest round of talks to end the Ukraine war, involving Trump's envoy Steve Witkoff as well as Jared Kushner, the president's son-in-law.

S.Palmer--TFWP