Qatar, Germany trade exchange amounted to $946mn in H1, says QC Chairman

Qatar Chamber’s Chairman HE Sheikh Khalifa bin Jassim Al Thani participated in meetings of the Arab-German Chamber of Commerce and Industry held recently via video conference.

The meetings were presided over by President of the Arab-German Chamber of Commerce and Industry Peter Ramsauer in the participation of the Secretary General Abdulaziz Al Mikhlafi and presidents of chambers of commerce and industry in Arab countries.

QC General Manager Saleh bin Hamad Al Sharqi also participated in the webinar.

The event deliberated upon the Chamber’s proposed activities for the next year and approval on the final accounts for 2019 as well as the draft budget for 2021.

On his part, Sheikh Khalifa said that the Arab-German economic relations have significantly developed during the previous years, noting that the value of trade between the two sides reached  €44.3 billion in 2019, of which Arab exports to Germany reached €12.9 billion, adding that the Arab investments in Germany have reached nearly €100 billion.

With regard to the Qatar-Germany relations, Sheikh Khalifa pointed out that both countries are associated with strong relations especially in economic and commercial fields, citing their trade exchange exceeded $ 946mn in the first half of 2020 in spite of repercussions of the Covid-19.

“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.” Sheikh Khalifa noted.

QC General Manager Saleh bin Hamad Al Sharqi said that the Arab-German Chamber of Commerce and Industry plays a key role in enhancing cooperation between business sectors in Germany and Arab countries, as well as promoting trade and investment cooperation between both sides.

He noted that Arab countries have benefitted more from the 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 and medical devices and equipment and others.

He affirmed that we seek through the Arab-German Chamber of Commerce and Industry 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.

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