Qatar, Germany trade reaches €830m in H1

Doha: Total trade volume between Qatar and Germany reached about €830m during the first half of the year (H1 2021), registering a growth of 23 percent compared to the same period last year, Qatar Chamber Second Vice-Chairman Rashid bin Hamad Al Athba has said. He added that bilateral trade between Qatar and Germany also reached €1.5bn last year.

To date, there are more than 150 German companies operating in Qatar in a variety of sectors such as trade, construction, services, medical equipment, and others, said Al Athba. He added that the close relations between Qatar and Germany in all economic and commercial aspects constitute a catalyst for more cooperation between the private sector in both sides.

Al Athba was speaking during the Qatar-German Business Forum which was held yesterday at the Chamber’s headquarters in the presence of Germany’s Policy Officer at the Division of Defense and Security Industries, Federal Ministry for Economic Affairs and Energy Dr George Milanin, Deputy German Ambassador to Qatar Andreas Berg, and Qatar Chamber General Manager Saleh bin Hamad Al Sharqi.

The meeting saw the participation of representatives from 13 German companies and their Qatari counterparts that are specialised in various sectors such as IT, ICT, cyber security, data management, sensors and radars, civil security, IT security systems, firefighting industry, and software solutions.

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. He noted that the Qatari investemtns in Germany increased after the visit of the Amir H H Sheikh Tamim bin Hamad Al Thani in 2018 during which Qatar has intended to invest €10bn in the German economy over the next five years (until 2023).

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 the opportunity to meet with Qatari businessmen and review cooperation relations, noting that it was the right time for both sides to establish joint ventures, especially with the approach of the FIFA World Cup Qatar 2022.