Qatari investments in Germany valued at €25bn

The visit of the Amir H H Sheikh Tamim bin Hamad Al Thani to the Federal Republic of Germany will expand opportunities and open doors for further cooperation in the commercial and economic fields, which will positively affect the business sectors in both countries, Chairman of Qatar Chamber Sheikh Khalifa bin Jassim Al Thani has said.

In a statement to QNA, Sheikh Khalifa said trade relations between the two countries have witnessed great development in recent years, as Germany is an important trading partner for Qatar.

Germany is a major destination for Qatari investments in the European continent, with Qatar’s investments in the country now valued at about €25bn, which include investments in the automotive industry, telecommunications, hospitality, banking and other important sectors.

Qatar owns stakes in the most important German commercial and banking groups, as it is the largest shareholder in the Volkswagen Group, with a stake of 9 billion US dollars, as well as in Siemens and other German companies working in the field of technology, shipping and the pharmaceutical industry.

Trade exchange between both countries rose by 75 percent in 2021 despite the COVID-19 pandemic and its repercussions on the global trade movement, with bilateral trade amounting to about QR11.2bn last year, compared to QR6.4bn riyals in 2020.

Sheikh Khalifa stressed that the Qatari market is attractive for German companies, with plenty of opportunities in various economic sectors, particularly to industries that depend on advanced technology.

In another aspect of economic cooperation between Germany and Qatar, Analyst and Consultant on Energy and International Affairs Dr. Thomas W. O’Donnell affirmed that energy will be at the top of the agenda during the visit of the Amir to Germany, indicating Germany’s aspiration to search for new gas supplies.