Qatar Chamber Second Vice Chairman HE Rashid bin Hamad Al athba said that the trade exchange between Qatar and Germany amounted to € 1.5 bn last year, and there are more than 150 German companies operating in Qatar in a variety of sectors such as trade, construction, services, medical equipment, and others.
This came during the Qatar-German Business Forum which was held on Sunday at the Chamber’s headquarters in the presence of Policy Officer at the Division of Defense and Security Industries, Federal Ministry for Economic Affairs and Energy, Dr George Milanin, and Deputy Ambassador at German Embassy in Qatar, Andreas Berg, and Qatar Chamber General Manager Saleh bin Hamad Al Sharqi.
The meeting saw participation of representatives from 13 German companies and Qatari counterparts that are specialized in many sectors such as IT, ICT, cyber security, data management, sensors and radars, civil security, IT security systems, firefighting industry, and software solutions.
Al athba also said that the two countries’ trade exchange during the first half of this year reached about € 830 mn, registering a growth of 23 percent compared with the same period last year, noting that the close relations between Qatar and Germany as all economic and commercial aspects constitute a catalyst for more cooperation between the private sector in both sides.
As for Qatari investments in Germany, he said that Germany is an important destination for Qatar, as Qatar has large-scale investments in many sectors such as auto, communication, hospitality, banking and others, noting that the Qatari investemtns in Germany increased after the visit of the Amir HH Sheikh Tamim bin Hamad Al Thani in 2018 during which Qatar has intended to invest €10 bn in the German economy over the next five years (till 2023).
HE emphasized the Qatar Chamber’s interest to encourage both sides to forge more economic partnerships though establishing joint ventures and commercial alliances, noting that there are numerous sectors in which both sides can cooperate such as digital economic and technology.
Elaborating on the investment incentives offered for foreign investors, he said that Qatar has built a sophisticated infrastructure and many free and logistic zones which offer lots of opportunities for German firms willing to invest in Qatar.
On his part, Dr George Milanin praised the close relations between Qatar and Germany, assuring that they enjoy distinct economic and commercial ties, and that Qatar is an important trade partner to Germany.
He said that the German delegation appreciate this opportunity to meet with Qatar businessmen and review cooperation relations, noting that this is the right time for both sides to establish joint ventures, especially the approach of the FIFA World Cup Qatar 2022.
He also paid tribute to Qatar’s interest in digital economy and digitalization, citing there are many fields that require developed technology, and this paves the way for German companies to enhance cooperation with their Qatari counterparts in this regard.
“Qatar is an important market for German technological companies which are globally recognized of the high quality and efficiency,” he added.