Economic ties between Qatar and Germany “are set to reach new heights” over the next five years following His Highness the Amir Sheikh Tamim bin Hamad al-Thani’s announcement of additional investments into the German economy, according to ambassador Hans-Udo Muzel.
Muzel made the statement in his welcome note during the annual general assembly of the German Business Council Qatar (GBCQ), which appointed new board members and other officials.
At the ninth instalment of the ‘Qatar-Germany Business and Investment Forum’ held earlier this month in Berlin, Germany, His Highness the Amir said Qatar is planning to pour €10bn into Germany.
This fresh round of planned investments, which include “vital projects” in the automobile industry and the information technology and banking sectors, would add to Qatar’s investment portfolio in Germany, which now stands at more than €25bn.
Speaking to Gulf Times earlier, Muzel underscored the need to set up “several institutions and mechanisms that could assist Qatar with its new investments in Germany.”
In his speech, Muzel emphasised the “strong” bilateral, political, and economic relations between the two countries, and congratulated the GBCQ’s new board members, including a new treasurer, auditor, and arbitration committee.
The new board is composed of chairman Henning Zimmermann (DB Schenker); Elias Chedid (Seib Insurance and Reinsurance); Adrian Wood (Siemens); Peter Neuschaefer (Dorsch), and Bahman Datsvareh (Endress + Hauser Qatar). The German ambassador is an honorary board member of the council.
Other “private members” include Oliver Moritz (treasurer) and David Salt (auditor). The arbitration committee is composed of Charbel Maakaron (Squire Patton Boggs); Oliver Alexander (Alexander & Partner Rechtsanwälte), and private member Geoffrey Compton.
During the dinner reception, two local companies were honoured for their continuous support to the council: Qatar International Automobiles for their support as “premium partner” and Al Mana Group as “most loyal member” since the council’s establishment in 2002.
The meeting was moderated by Kathrin Lemke, representative of the German Industry and Commerce Office (AHK). AHK represents the Association of German Chambers of Industry and Commerce (DIHK) and is part of the global network of German Chambers of Commerce Abroad (AHK). On behalf of the Federal Republic of Germany, AHK represents German business interests in Qatar and manages the GBCQ.
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