Qatar and Germany… Deep Friendship, Strategic Partnerships Serving Common Interests -1-

The Qatari-German economic relationship has seen steady growth over the past six decades. The State of Qatar has emerged as a significant economic partner for Germany in the region. Germany ranks third among European countries in attracting Qatari investments, following the UK and France. The State of Qatar is one of the largest investors in Germany, contributing around 25 billion euros. Qatari investments cover an array of sectors including the automotive, communications, hospitality and banking, and other important sectors. In September 2022, the Qatari Ministry of Commerce and Industry signed a strategic partnership agreement with the German Association for Small and Medium Businesses, to open a representative office for the association in the State of Qatar - the first of its kind in the Gulf region. This agreement contributes to increasing the presence of German companies in Qatar and reflects positively on the movement of trade and investment and the establishment of fruitful partnerships between the business sectors in both countries.

Over 300 German companies contribute to Qatar's economic development, operating in vital sectors such as energy, construction, services, railway development, trade, contracting, communications, and medical equipment, among others.

Qatar holds significant stakes in major German commercial and banking groups and is considered the largest shareholder in the automotive giant Volkswagen Group, with an investment of 9 billion US dollars. Qatar's investments are not limited to the industrial and technology sectors. They also extend to the shipping sector, investing in Hapag-Lloyd, one of the world's largest shipping companies, and in Hochtief, the largest construction company in Germany, which operates globally. Additionally, Qatar invests in RWE AG (RWE), one of the world's largest renewable energy producers, with a total value of 2.4 billion euros.

The trade volume between Qatar and Germany exceeded 2 billion dollars in 2022. Recently, there has been an increased frequency of German trade delegations visiting Doha, reflecting the German private sector's interest in exploring investment opportunities in Qatar and forming alliances with Qatari companies in various fields, including energy and manufacturing.

To attract foreign investments, the State of Qatar, aligned with its National Vision 2030, has created a conducive investment climate through a series of laws and legislation that attract investment, coupled with the country's political and social stability, strong and balanced relationships with all parties, as well as its strategic geographic location as a major commercial gateway connecting East and West. Furthermore, Qatar's advanced digital infrastructure ensures smooth trade and capital flow for international investors, facilitated by its large commercial port and airline routes connecting it to major cities and global trade routes.

Germany, with an area of over 357,000 square kilometers, is a highly industrial exporting country, deeply integrated into the global economy. It boasts strong export sectors and is one of the world's most developed and best-performing industrial countries. Germany is the fourth-largest economy globally, following the United States, Japan, and China, and is the largest and most important market in the European Union (EU), with a population exceeding 82 million.

Germany shares extensive borders with nine other countries, eight of which are EU members. Its economy is centered on industrial products and services, with German machinery, automobiles, and chemical products enjoying a distinguished global reputation. Due to its significant export orientation, Germany is highly interconnected with the global economy. Exports of goods and services contribute to over a quarter of Germany's GDP, with more than one-fifth of jobs dependent on exports. In 2009, with its export volume of $1,121 billion, Germany ranked second in the world after China. Asia represents the second most important market for German products, with China being its most crucial trading partner. Since 1999, Germany has been the largest European investor in China, with approximately 2,500 German companies investing in various Chinese sectors.

Source: Qatar News Agency

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