Trade exchange between Qatar and Germany stood at $946mn in the first half of 2020, according to Qatar Chamber chairman Sheikh Khalifa bin Jassim al-Thani, who participated in a virtual meeting of the Arab-German Chamber of Commerce and Industry.
On Qatar-Germany relations, Sheikh Khalifa stressed that both countries are associated with “strong relations,” especially in economic and commercial fields.
“Both countries trade volume amounted to $2.3bn last year compared to $2.1bn in 2018, an increase of 10%. Germany is among the most important destinations for Qatari investments. Qatari investments in Germany are distributed in a range of sectors, such as automobiles, telecommunication, hospitality, banking services, and others,” he said.
Sheikh Khalifa said the Arab-German economic relations have significantly developed during the previous years, noting that the value of trade between the two sides reached €44.3bn in 2019, of which Arab exports to Germany reached €12.9bn; Arab investments in Germany have reached nearly €100bn.
Qatar Chamber general manager Saleh bin Hamad al-Sharqi said the Arab-German Chamber of Commerce and Industry plays a key role in enhancing co-operation between business sectors in Germany and Arab countries, as well as promoting trade and investment co-operation between both sides.
He noted that Arab countries have benefited more from German expertise in many strategic projects, especially in infrastructure and energy sectors. Al-Sharqi also said more than 300 German companies are currently operating in Qatar in various fields including rail, roads, infrastructure, construction, medical devices and equipment, and others.
“Through the Arab-German Chamber of Commerce and Industry, we seek not only to develop trade between both parties but also to build genuine partnership that helps in enhancing German technology in Qatar and Arab countries,” al-Sharqi said.
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