• E. Minister of Commerce and Industry voices hope to hold the next session of the Qatari-German Joint Commission in Doha in 2021
• Qatari-German trade exchange exceeded 2.311 billion dollars in 2019
• Germany is Qatar’s 11th largest trade partner

H.E. Mr. Ali bin Ahmed Al Kuwari, Minister of Commerce and Industry, participated in a webinar on Qatar’s business and investment environment on Tuesday, September 8th, 2020. The event was organised by Qatar Embassy in Berlin in cooperation with the German Near and Middle East Association (NUMOV).

The conference was attended by H.E. Mr. Mohammad Jaham al-Kuwari, Former Ambassador of Qatar to Germany; H.E. Mr. Abdulaziz Bin Nasser Al-Khalifa, CEO of Qatar Development Bank (QDB); H.E. Mr. Yousuf Mohamed Al-Jaida, Chief Executive Officer of Qatar Financial Centre Authority; and H.E. Sheikh Ali Alwaleed Al-Thani, the CEO of the Investment Promotion Agency of Qatar.

On the German side, the conference was attended by H.E. Mr. Thomas Bareiß, the Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Energy & Co-Chairman of the Qatari-German Joint Commission on Trade, Economic and Technical Cooperation; H.E. Dr. Claudius Fischbach, German Ambassador to the State of Qatar; and Mr. Niko Warbanoff, Member of the Board of NUMOV and Chairman of the Board of DB Engineering & Consulting GmbH.

In his opening speech, H.E. Mr. Al Kuwari highlighted the importance of the webinar, which provides a platform for dialogue between the Qatari and German private sectors, for SMEs and entrepreneurs to discuss opportunities to cooperate in areas that will contribute to strengthening economic and commercial ties between the two nations.

H.E. The Minister congratulated both H.E. Sheikh Abdulla bin Mohammed bin Saud Al-Thani for his appointment as Ambassador to the Federal Republic of Germany, and H.E Dr. Claudius Fischbach for his appointment as Ambassador of the Federal Republic of Germany to the State of Qatar.

H.E. affirmed that this meeting presented another opportunity to build on what both sides achieved during the Qatari-German Joint Commission on Trade, Economic and Technical Cooperation, expressing his aspiration to hold the next session of the Joint Commission in Doha in 2021.

H.E referred to the directives of His Highness the Amir Sheikh Tamim bin Hamad Al-Thani to support and provide financial and economic incentives in the form of a QR 75 billion incentive package to the private sector, in addition to QDB’s initiative to launch the National Guarantee Program which aims at helping private sector companies overcome the challenges posed by the pandemic.

H.E. shed light on the stimulating investment environment in the State of Qatar, and the new laws and regulations governing the business environment. In particular, he highlighted the law on regulating the partnership between the public and private sectors, which aims to enhance economic diversification and further the private sector’s contribution to national development.

On trade relations between the two countries, H.E. said Qatari-German trade ties have gained considerable momentum in recent times, with over 2.311 billion dollars-worth of goods exchanged in 2019, ranking Germany as Qatar’s 11th largest trade partner.

A total of 332 German companies are currently operating in Qatar, including 270 Qatari-German companies, 46 fully owned German companies, and two German representative offices, in addition to 14 companies licenced under the umbrella of Qatar Financial Centre.

H.E. said that these companies are contributing to the implementation of several major projects in the infrastructure sector such as Qatar Rail, as well as the development of key stadiums for the 2022 FIFA World Cup, in addition to other vital ventures in various fields.

H.E. added that Qatar has made significant investments in a range of German industries, especially following the historic visit of His Highness the Amir to Germany in September 2018, during which His Highness announced Qatar’s intention to invest 10 billion Euros into the German economy over the five years up to 2023.

In his concluding remarks, H.E. voiced his hope that this webinar would contribute to developing new projects and concluding more investment partnerships to further enhance bilateral ties between the two nations.

For his part, H.E. Mr. Mohammad Jaham al-Kuwari, Former Ambassador of Qatar to Germany, praised the close partnership between the two countries, which covers a wide range of political, cultural and particularly economic areas.

H.E. the Former Ambassador added that Qatar is strongly committed to further intensifying the excellent relations between the two nations as a strategic objective, especially in light of the immense challenges that the world is currently facing.

The highest priority is to defeat the global corona pandemic and return to sustainable economic growth and stable international trade, H.E. Mr. Mohammad Jaham al-Kuwari said.

H.E stressed the importance of the conference, as it contributes to further strengthening the outstanding cooperation and networks, as well as attracting new entrepreneurial opportunities allowing both nations to face the global challenges ahead with strong economic, political and sustainable commitment.

H.E. added that, even though the COVID-19 pandemic has hit the global economy hard, the strength of Qatar’s economy and companies remains evident. In this context, H.E. the Former Ambassador hailed the efforts of globally operating companies such as Qatar Airways, which has significantly expanded its market share. And, compared to neighbours in the Gulf region, Qatar’s economy is also proving its strength under pressure, H.E. said.

H.E. stated that Qatar offers great possibilities and opportunities for German companies.

Partly due to its geographical location, Qatar has developed into a global trading centre that offers excellent conditions for production facilities with secure energy supplies, H.E. added.

H.E. also shed light on Qatar’s advanced logistical, financial and digital infrastructure, in addition to the free industrial zones that are witnessing continuous expansion, creating the conditions and environment conducive to long-term investments and sustainable growth.

The webinar included a panel discussion entitled ‘Invest in Qatar’. H.E. Mr. Abdulaziz Bin Nasser Al-Khalifa, H.E. Mr. Yousuf Mohamed Al-Jaida, and Sheikh Ali Alwaleed Al-Thani participated in the session.

The discussion shed light on the investment opportunities available in Qatar, as well as the facilities provided by the state to foreign investors, including small and medium companies and other foreign firms.

For his part, QDB’s CEO thanked the event organisers for opening new doors for collaboration between Qatari and German companies and institutions, which he said is a testimony to the continuous efforts of the Qatari-German Joint Economic Commission in advancing the two countries’ economic agendas.

Mr. Al-Khalifa pointed out that the COVID-19 pandemic has acted as a warning to create a more resilient infrastructure and business ecosystem. He added that, since the outbreak, QDB has launched several initiatives within the framework of a trilateral strategy to help SMEs survive the pandemic, revive their businesses amid ongoing challenges, and ultimately thrive in the new economy. These initiatives include releasing the COVID-19 ‘survival’ guidebook and the Revive guidebook, which acts as a complete reference for entrepreneurs who want to reinvigorate their businesses in the post-recovery phase.

Sharing his outlook on the future of entrepreneurship in Qatar, Al-Khalifa said that QDB and its affiliate institutions will continue to provide SMEs with all the tools and resources they need in the areas of finance, knowledge and skills development, while also helping them to successfully extend their footprint, including through collaboration with their German counterparts to achieve more growth and contribute to the economic development of both nations.

The CEO of Qatar Financial Centre Authority said: “Qatar has been at the forefront in maintaining its thriving economy and strengthening its lucrative investment eco-system, which are integral factors for attracting German investments into the Qatari Market. Although the COVID-19 pandemic confronted Qatar, and the rest of the world, with many challenges, it has however created new avenues of investment in Qatar, which is offering a diversified multitude of business opportunities.”

Al-Jaida added: “Backed by our host of premium benefits and incentives, QFC proudly pursues its role as a core enabler for German firms to access Qatar’s lucrative market and establish their business through a seamless unique journey. The QFC platform, one of the world’s leading and fastest-growing onshore business and financial centres, is currently home to 14 German firms, and we look forward to welcoming more very soon.”

For his part, the Investment Promotion Agency of Qatar’s CEO said: “As businesses continue to transform for the new economy, many investment opportunities are emerging across sectors, and we see plenty of prospects for German-Qatari collaboration as we move towards a digital economy, where business, communication, and consumer experiences are re-imagined. This includes areas such as Fintech, e-health, e-learning, virtual entertainment, and many others. Backed by the country’s resilient economy, forward-looking vision, and strategic national initiatives, the Invest Qatar ecosystem is now more prepared than ever to support existing investors and welcome new international partners to Qatar.”