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Doha, September 25 (QNA) – HE Minister of Commerce and Industry Sheikh Mohammed bin Hamad bin Qassim Al Abdullah Al-Thani, met Sunday with Chairman of the Board of Directors of the German Association for Small and Medium Businesses Markus Jerger, who is currently visiting the country.

During the meeting, aspects of promoting and developing trade and economic cooperation between the State of Qatar and the Federal Republic of Germany, and the economic policies adopted by the State of Qatar to diversify the national economy, were reviewed.

On the other hand, the ministry 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.

The agreement was signed by HE Undersecretary of the Ministry of Commerce and Industry Sultan bin Rashid Al-Khater, and Chairman of the Board of Directors of the German Association for Small and Medium Businesses Markus Jerger. Under the agreement, the ministry and the association will host many events to promote business and investment, and visits will be organized for business delegations between the two countries, and marketing campaigns will be launched through various media channels to highlight the investment opportunities offered by the State of Qatar to German small and medium companies.

HE Minister of Commerce and Industry praised the importance of this strategic partnership, which would represent a strong pillar that supports joint efforts to encourage and develop cooperation between the business sectors on both sides, noting that it will allow German small and medium-sized companies to identify and benefit from the investment opportunities and advantages available in the State of Qatar as well as allowing expansion into various markets in the region.

HE Undersecretary of the Ministry of Commerce and Industry Sultan bin Rashid Al-Khater said that this strategic partnership confirms the close relationship between Qatar and Germany.

His Excellency added, in an exclusive statement to Qatar News Agency (QNA), that this agreement contributes to increasing the presence of German companies in Qatar, as it enhances prospects for cooperation between the two countries, especially in the fields of trade and economy, which is reflected positively on the movement of trade and investment, as well as for the establishment of fruitful partnerships between the business sectors in both countries.

His Excellency pointed out that the volume of intra-regional trade between the State of Qatar and the Federal Republic of Germany increased by 79 percent, reaching about USD 3 billion last year, noting that more than 300 German companies operate in various sectors such as railways, commercial services, communications, roads and infrastructure, and medical equipment, and other vital areas in the Qatari market.

His Excellency pointed out that the establishment of the first office in the Gulf region of the German Association for Small and Medium Businesses in Doha will contribute to strengthening relations between companies in the two countries, by linking the 900,000 small and medium-sized companies that are members of the association with their counterparts in Qatar, in addition to linking German companies with potential partners in all parts of the region.

His Excellency stressed the Ministry of Commerce and Industry’s endeavor to achieve sustainable economic development through the development of innovative and long-term policies, including diversified investments, market monitoring, and consumer protection in the State of Qatar, pointing out the importance of foreign investment in achieving the goals of economic diversification, not only in terms of attracting capital, but as well as the exchange of knowledge, education and development.

His Excellency noted, in his statements to Qatar News Agency (QNA), that German investors can contribute to achieving Qatar’s goal of reducing emissions by 25 percent by 2030, as there are exceptional opportunities in the country’s growing green economy, especially solar energy and agricultural technology, stressing that the presence of major companies such as Siemens and Volkswagen reflects the attractiveness of the Qatari market and its economic system.

His Excellency stressed that the State of Qatar is an ideal platform for doing business, especially with its strategic location, world-class infrastructure, international connectivity, availability of talent and skills, a competitive regulatory and tax framework, and a distinguished quality of life, in addition to providing the desired stability for investors.

His Excellency explained that the strong legislative environment that characterizes Qatar is one of the most important factors attracting foreign investments, as it constitutes an important element to enhance investor confidence, in addition to a strong and prosperous economy that is based on solid political and economic foundations.

His Excellency noted that the State of Qatar has worked to consolidate its position as one of the safest and stable investment destinations in the region and the world, by building a business environment based on advanced legislative frameworks that provide an important number of incentives and benefits for German companies and investors wishing to establish their businesses in the State of Qatar and expand towards the region’s markets.

For his part, Chairman of the Board of Directors of the German Association for Small and Medium Businesses Markus Jerger, said that the strategic partnership agreement comes within the framework of expanding economic and investment cooperation between Qatari and German small and medium companies, noting that the State of Qatar is currently one of the largest foreign investors in Germany with an estimated investment volume at about 25 billion euros, in addition to the State of Qatar’s recent announcement of additional investments in Germany worth 10 billion euros, especially in the small and medium-sized enterprises sector.

He added, “With the opening of our representative office for the Gulf region in Doha, we will create a point of contact for German and Qatari small and medium companies to take advantage of the opportunities and advantages available in both countries, as well as the opportunity to expand in the region’s markets,” noting that Doha is an important hub in the region. On the other hand, he wished the Qatari and German teams good luck during the FIFA World Cup Qatar 2022.

The signing of the partnership agreement is based on the memorandum of understanding concluded in November 2021 between the Qatar Investment Promotion Agency and the German Association for Small and Medium Businessess, which sought to enhance economic and commercial cooperation between the two countries and identify new opportunities in SME sector. (QNA)

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