Qatar, whose investments in Germany amounted to $9.9bn, is seeking to strengthen its ties with the European country and support the joint efforts to develop co-operation between the business sectors in both countries.
As many as 323 German companies operate in Qatar, playing an important role in supporting the country’s development journey. Germany represents one of the main destinations for Qatari investments abroad, amounting to $9.9bn, Saleh bin Majed al-Khulaifi, Assistant Undersecretary for Commerce Affairs at the Ministry of Commerce and Industry, told the annual reception organised by the German Association of Small and Medium-Sized Businesses in Berlin.
This participation reflects Qatar’s determination to strengthen its strategic ties with Germany, and support the joint efforts to develop co-operation between the business sectors in both countries.
Concerning the economic policies adopted by Qatar, he said the government has strived to diversify the economy by directing the efforts of the private sector toward investment in non-hydrocarbon sectors, such as renewable energy, technology, small and medium-sized enterprises, and infrastructure, in addition to attracting foreign direct investment or FDI and localising industries in fields that can help Qatar in its pursuit of self-sufficiency.
"These efforts reflected positively on the growth rates of the economy, as attested by the World Bank, which has stated that the Qatari economy grew by 4% in 2022," he said.
Marcus Werger, chief executive officer of of the German Association of Small and Medium-sized Businesses, said it is pleased that Qatar is participating for the first time in the “Future Day for Small and Medium Enterprises” with five participants.
"We believe that this event will provide a very good networking opportunity for small and medium-sized companies from Qatar and Germany...It is our great pleasure to open our GCC (Gulf Co-operation Council) office based in Doha,” he said.