Qatar-Germany cooperate on diverse economic levels

As Qatar and Germany mark 50 years of diplomatic relations in 2023, the business bilateral ties between the two nations have significantly surged.

In an exclusive interview with The Peninsula, Henning Zimmermann, Chairman of the German Business Council Qatar (GBCQ) said that Qatar strategically invests in German companies, with a special focus on market carving innovation.

“Siemens PLC, Volkswagen Group, Deutsche Bank – to name a few – are big players in the country’s economy that have Qatari shareholders”, says Zimmermann. SME companies are the backbone of the German Economy and “account for the largest share of the country’s economic output” states the website of the Federation of German Industries (BDI).

Many of them are so-called “hidden champions”, companies that are usually family-owned and highly successful.

The German industry has been resilient foremost in the automotive, manufacturing, and technology sectors, and is a driver of the sustainability movement.

On the other hand, Zimmermann noted, “German companies, especially of smaller and medium size (SMEs) were involved in Qatar’s preparations of the World Cup by providing technology, solutions, and knowhow for several sectors including hospitality. With the World Cup, Qatar’s economy was most impressively booming and the bilateral economic exchange gathered pace.”

The GBCQ and the German Industry and Commerce Office (AHK) in Qatar, the latter is officially commissioned to represent the interest of the German Economy in the country, cooperate very closely to support German businesses in their ventures.

“Until the World Cup, Qatar’s economy was impressively booming and German companies were involved when it came to the infrastructure projects,” he remarked adding that GBCQ and AHK were both a part of the building of stadiums and acting mediators between German industries and the local market. Earlier this year, the GBCQ Chairman visited together with GBCQ member companies and representatives of AHK several companies including German Excavation Technologies (GET), which has a production site in Qatar.

However, due to its supportive business environment, he mentioned that Qatar continues to provide many more opportunities across several industries.

He highlighted the five decades of fruitful relations, which go hand-in-hand adding that numerous agreements and strategic dialogues between the countries will bolster the economies.

“Therefore, Germany sees Qatar as a strong partner, and on the other side, Qatar sees Germany as a very stable and solid business partner,” Zimmermann added.

According to the United Nations COMTRADE database on international trade, Germany’s exports to Qatar amounted to $1.49bn (QR5.43bn) in 2022, while Qatar’s exports to Germany reached $166.38m (QR605.79m).

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