A working programme is being formulated in time for the Joint Germany-Qatar Economic Commission meeting slated on February 2019 in Berlin, according to German ambassador Hans-Udo Muzel (pictured).
The joint commission, which will be headed by both countries’ economy ministers, will steer the direction of the Qatari investments to be poured into the German economy, among other plans, Muzel said.
Muzel’s statement comes in the wake of the €10bn Qatar intends to invest in Germany over the next five years, which was announced in Berlin by His Highness the Amir Sheikh Tamim bin Hamad al-Thani.
“We are keeping our promise, there is action being taken...there’s lots of work to do and we are looking forward to it,” Muzel told Gulf Times on the sidelines of a press conference to announce the ‘Back to Business’ networking event slated for October 29.
In a speech during the conference, Muzel said, “Strengthening trade relations between our two states will be mutually beneficial and is therefore in the interest of both our nations. In particular, the announcement by His Highness the Amir to invest another €10bn in Germany will open up new business opportunities.”
Muzel noted that bilateral trade between the two countries “remained strong” in 2017, amounting to €2.5bn, thus making Germany “one of Qatar’s most important trading partners.”
“As a matter of fact, we rank as number three among Qatar’s main trade, business, and – most importantly – technology partners. We look forward to be an active partner in Qatar’s Vision 2030 development plans for the country’s state-of-the-art infrastructure, for the oil and gas sector, transport, the new non-oil industrial base, IT, research and technology, and higher education,” Muzel continued.
He added, “The current situation and business environment certainly has an impact on the economy but in the long run, I am sure, it will contribute to the strengthening of the Qatari economy as it has accelerated efforts to diversify economic relations and opened up new business opportunities.
“Take the agricultural sector for example: numerous companies have been established over the past year making Qatar almost self-sufficient in many areas of this sector. German companies are partners for Qatari enterprises in this endeavour.”
Citing Germany’s “hidden champions” – the small and medium-sized enterprises, Muzel said German SMEs could benefit from the new opportunities available in Qatar, such as those in the tourism and sport sector.
Muzel added that German SMEs are operating on an international level and are “important players” in the field of Qatar-German economic and technical co-operation.Hans-Udo Muzel
Hans-Udo Muzel
