The Investment Promotion Agency of Qatar (IPA Qatar) and the German Federal Association of Small and Medium Enterprises (BVMW) have signed a memorandum of understanding (MoU) for the creation of a representative office in Qatar.
The MoU, which was signed by IPA Qatar CEO Sheikh Ali Alwaleed al-Thani and BVMW executive director Markus Jerger, in the presence of HE the Minister of Commerce and Industry Sheikh Mohamed bin Hamad bin Qassim al-Abdullah al-Thani, establishes the BVMW’s first-ever headquarters in the Gulf Co-operation Council (GCC) region.
The signing ceremony was held after the minister’s meeting with Jerger and his accompanying delegation. During the meeting, the officials discussed ways to promote trade and economic co-operation between Qatar and Germany.
The minister lauded this major step, saying that it reflects the keenness of the Qatari and German governments to consolidate their strategic partnership, especially in light of the two sides’ common denominators, which have been translated into initiatives to enhance Qatari-German trade and investment exchange.
HE Sheikh Mohamed added that the MoU would allow German small and medium-sized enterprises (SMEs) to learn and benefit from the investment opportunities and advantages available in Qatar. The MoU also offers them the possibility of expansion into various markets in the region, the minister further noted.
Scheduled to start its operations in Doha early next year, the office aims to strengthen Qatari-German relations in the business field by connecting the 900,000 BVMW members with their Qatari counterparts.