Over the past six decades, the Qatari-German economic relations have witnessed steady growth with Qatar becoming an important economic partner for Germany in the region. Similarly, Germany ranks third among the European countries attracting Qatari investments after the UK and France. The State of Qatar is one of Germany’s largest investors, with an amount amounting to about 25 billion euros in the automotive industry, communications, hospitality and banking services, and other important sectors. The pace of these investments has increased, especially after HH the Amir Sheikh Tamim bin Hamad Al-Thani’s historic visit to Germany in 2018, where His Highness announced the State of Qatar’s intention to pump 10 billion euros worth of investments into the German economy over the next five years until 2023, reflecting the depth and strength of bilateral relations at all levels.

In September 2022, the Qatari Ministry of Commerce and Industry signed a strategic partnership agreement with the German Association for
Small and Medium Businesses, to open a representative office for the association in the State of Qatar, the first of its kind in the Gulf region. This agreement contributes to increasing the presence of German companies in Qatar and reflects positively on the movement of trade and investment and the establishment of fruitful partnerships between the business sectors in both countries.

The establishment of the first office in the Gulf region of the German Association for Small and Medium Businesses in Doha will contribute to strengthening relations between companies in the two countries, by linking the 900,000 small and medium-sized companies that are members of the association with their counterparts in Qatar, in addition to linking German companies with potential partners in all parts of the region.

As an indication of the steady growth of trade relations between the two countries, the volume of trade exchange between Qatar and Germany increased by 80 percent in 2021, reaching more than USD 3 billion. The
number of German companies that contribute to the development of the Qatari economy exceeds 330 companies working in vital fields such as energy, construction, services, railway development, trade, contracting, communications, medical devices and equipment, and other fields.

Additionally, the State of Qatar owns shares in vital German commercial and banking groups. It is considered the largest shareholder in the giant Volkswagen Group, with a share worth USD 9 billion, as well as in Siemens, and invests in Hapag-Lloyd, one of the world’s largest shipping companies, and in Hochtief, the largest construction company in Germany, which operates globally.

To attract foreign investments, the State of Qatar has worked, based on its National Vision 2030, to provide an appropriate investment climate, through a series of laws and legislation that attract investment, the political and social stability that the country enjoys, its connection to strong and balanced relations with all parties, its strategic geographical
location as a major commercial gateway linking the East and the West, the advanced digital infrastructure that ensures the smooth flow of trade and capital for international investors, and its large commercial port and airlines that connect it to important cities and global trade routes.

Germany is one of the most developed and strongest-performing industrialized countries in the world. It is the largest economy in the world after the US, Japan, and China. It is also considered the largest and most important market in the European Union countries with a population of more than 82 million people.

Germany shares wide borders with nine other countries, eight of which are European Union members. Its economy is primarily focused on industrial products and services. German machinery, cars, and chemical products enjoy a distinguished international reputation. Due to its great orientation towards export, Germany is considered one of the most interconnected and intertwined with the global economy. Exports of goods a
nd services contribute to more than Germany’s income. More than a fifth of the job opportunities there depend on exports. In 2009, with its export volume of USD 1,121 billion, Germany ranked second in the world after China. Asia is considered the second most important market for sales of German products, with China considered its most important trading partner. Germany, in turn, is the largest European investor in China since 1999. Around 2,500 German companies are investing in various Chinese sectors.

Source: Qatar News Agency