(MENAFN- The Peninsula)
QNA
The State of Qatar succeeded in building a strong strategic partnership with the federal Republic of Germany at all levels, becoming an active strategic partner for Germany in the Gulf and the Middle East through intensive efforts and ongoing activities within a flourishing relationship that has lasted for over fifty years. The cooperative relations between Doha and Berlin date back more than 65 years of commercial ties and 50 years of diplomatic relations, established in 1973. Over the years, both countries have demonstrated a mutual commitment to developing and enhancing the growing friendship and cooperation between them. The visit of the Amir H H Sheikh Tamim bin Hamad Al-Thani to Germany comes as a renewed expression of this commitment. During this visit, His Highness is scheduled to discuss with President of the Federal Republic of Germany H E Frank-Walter Steinmeier, Chancellor Olaf Scholz, and several senior German officials, the bilateral relations between the two countries and ways to support and develop them across all fields, particularly in trade, economy, and investment, in addition to reviewing regional and international issues of mutual concern.
The visit of H H the Amir to the Federal Republic of Germany represents a new opportunity to enhance bilateral relations between Doha and Berlin, pushing them toward broader horizons that serve common goals, interests, and the aspirations of both peoples. The visit is expected to open wide avenues for further cooperation between the two sides, at levels and scales that serve the interests and aspirations of both countries and their peoples across all dimensions. In recent years, relations between the two countries have seen significant development, reflected in the increasing high-level visits between them. This was recently highlighted by the visit of H H the Amir to Berlin in October last year, his working visit to Germany in May 2022, German Chancellor Olaf Scholz's visit to Doha in September 2022, and the visit of the German President to Doha last November.
During these visits, discussions focused on the relations between the two countries and ways to develop them across all fields. Additionally, an agreement was signed to establish a partnership in the energy sector, aimed at supplying Germany with LNG starting in 2026, which further solidified and elevated the level of relations between the two countries in both political and economic spheres.
This partnership is expected to enhance the diversity of Germany's energy supplies through imports of LNG from Qatar, while also facilitating bilateral cooperation in hydrogen energy and renewable energy sources.
In May last year, the State of Qatar and the Federal Republic of Germany signed a memorandum of understanding (MoU) in Doha to establish a strategic dialogue between them. This memorandum serves as a new strategic platform to enhance the existing relations between the two countries and to coordinate and intensify their cooperative efforts. It also reflects both sides' desire to create new opportunities for long-term cooperation to strengthen their ties.
The two countries are closely linked by a number of economic agreements and MoU, the most significant of which are agreements in the energy sector, as well as others in industrial, commercial, health, cultural, and sports fields, in addition to solar energy, aviation, and air transport. There was also an agreement to protect and encourage mutual investments, along with an agreement to establish a joint committee for commercial and economic cooperation, which has organized numerous conferences and seminars over the past years.
In this context, Regional Manager of the German Federal Association of small and medium-sized businesses (BVMW) in Qatar Nizar Maarouf said that the visit of the Amir to the Federal Republic of Germany represents a unique opportunity to enhance market diversification for the Qatari private sector.
In an interview with Qatar News Agency (QNA), the Regional Manager of BVMW in Qatar said that this visit will contribute to opening new horizons for Qatari businesspersons and expanding cooperation with and expanding cooperation with their German counterparts, he noted, adding that it will also contribute to enhancing economic growth and trade exchange between the two countries.
These official visits create a positive climate for concluding new deals and exploring new markets in various sectors, he added.
Maarouf pointed out that the association signed a MoU with Qatar Research, Development, and Innovation (QRDI) Council, to boost economic relations, especially in the field of research and development in all areas.
He also said that BVMW considers this visit an important step in strengthening bilateral relations, indicating that it will lead to an increase in the level of cooperation in various fields, including the energy, technology, advanced industries, research, development and education fields. This visit will also open new doors for German small and medium-sized enterprises to explore opportunities in the Qatari market, thus enhancing sustainable cooperation between the two countries, he added. He pointed out that there are currently over 300 German small and medium-sized companies in the Qatari market, operating in diverse sectors, including technology, engineering, and infrastructure, and these companies contribute to strengthening the Qatari economy through significant investments and strategic partnerships. This number is expected to increase after the opening of the association's office in Qatar last year, which will provide new investment opportunities and strengthen the presence of German companies in the region.
He stressed that there many promising areas for trade cooperation between Qatar and Germany, especially in the sectors of technology, renewable energy, and industrial innovation, adding that there is also great potential for developing joint projects in the areas of infrastructure and transportation, which are part of Qatar's ambitious plans, while the private sectors in both countries can take advantage of these opportunities to enhance cooperation and increase the volume of trade exchange.
BMVW opened its first representative office in the GCC region in Qatar with the aim of strengthening economic relations between Germany and Qatar. The BMVW in Qatar plays a vital role in facilitating the entry of German small and medium-sized businesses into the Qatari and Gulf markets, providing new investment opportunities in several fields, including scientific research, education and technology, and enhancing cooperation between the private and public sectors in both countries. The office also helps identify local partners and provides the necessary support for expanding businesses.
Qatari-German economic relations experienced steady growth over the past six decades, with Qatar being the third-largest trading partner for Germany in the Gulf region. The volume of trade between the two countries reached QAR 7.1 billion last year, compared to QAR 6.8 billion in 2022, reflecting an increase of 4.4 percent.
Germany ranks third among European countries attracting Qatari investments, following the United Kingdom and France. Qatar is one of the largest investors there, with investments amounting to approximately EUR 25 billion, covering sectors such as automotive, telecommunications, hospitality, banking services, and other important sectors.
In September last year, the Ministry of Commerce and Industry signed a strategic partnership agreement with the German Federal Association for Small and Medium-sized Businesses to open a representative office for the association in Qatar, the first of its kind in the Gulf region. This agreement aims to increase the presence of German companies in Qatar, which will positively impact trade and investment flows and foster fruitful partnerships between the business sectors of both countries.
More than 300 German companies contribute to the development of the Qatari economy, operating in vital areas such as energy, construction, services, railway development, trade, contracting, telecommunications, medical devices, and other fields.
The State of Qatar holds stakes in major German commercial and banking groups, being the largest shareholder in the automotive giant Volkswagen, with an investment valued at USD 9 billion. Qatar also invests in Hapag-Lloyd, one of the largest shipping companies in the world, and holds a stake in Hochtief, the largest construction company in Germany. Additionally, Qatar invests EUR 2.4 billion in RWE AG, one of the largest producers of renewable energy globally, along with a 21 percent stake in Siemens, a leading company specializing in energy and electronics, including healthcare and infrastructure. Moreover, Qatar owns a 6.1 percent stake in Deutsche Bank, one of the world's leading banks known for its role in major global investments and deals. The State also holds a 49 percent stake in SolarWorld, a company recognized as one of the largest global firms in solar technology.
The Qatari-German cooperation also encompasses the gas sector, with QatarEnergy signing an agreement with ConocoPhillips to export LNG to Germany for 15 years starting in 2026. This agreement will supply Germany with two million tons of LNG annually, with the gas being sourced from the North Field East expansion projects.
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