The economy dominated the visit made by the Emir of the State of Qatar, Sheikh Tamim bin Hamad Al Thani, to Germany and Italy, which came days after the first summit between the European Union and the Gulf Cooperation Council, chaired by Qatar, was held in Brussels to discuss activating a number of strategic agreements between the two sides, especially the free trade agreement.
The visit, which concluded yesterday evening, Tuesday, discussed many of the files on the scene, whether the Israeli war on Gaza and Lebanon or the bilateral relations between Qatar, Germany and Italy, as well as the files of investment and trade and the annual strategic dialogue.
In a joint Qatari-Italian statement at the conclusion of the visit, the two sides stressed the importance of the bilateral strategic dialogue between them and looked forward to holding its next session in the Qatari capital, Doha, as well as the commitment to strengthening stronger and closer relations between the European Union and the Gulf Cooperation Council, and encouraging more organized cooperation also at the level of the two regions.
The two sides also agreed to strengthen partnerships in the field of migration with countries of origin and transit by finding innovative solutions, and recognizing the need to enhance international cooperation to reduce organized crime, prevent and combat human trafficking and migrant smuggling, remove the root causes of migration, and strengthen and diversify regular channels.
Preference for investments
The two sides expressed their commitment to favor direct investments in both countries with a focus on strategic sectors such as energy, defense, communications technology, digitalization, agriculture and food supply, stressing the need to commit to giving priority to favorable investment opportunities in both markets.
Doha and Rome stressed their commitment to deepening and expanding bilateral economic and financial relations, and encouraging trade exchange between companies and relevant economic actors, to facilitate the exchange of best economic practices.
The statement stressed that the two sides will work to expand the scope of cooperation in the field of energy security and transportation, including within the broader framework of gas field projects in Qatar, and will also focus on industrial cooperation, research and development, diversification of sources and environmental transformation, and cooperation in the areas of water management and converting waste into energy. .
#Qena_Video |
CEO and General Manager of Leonardo, Italy #Qena: Cooperation with a country #Qatar Its institutions are a well-established tradition that has been going on for many years#Italy pic.twitter.com/IrIocDDypg– Qatar News Agency (@QatarNewsAgency) October 22, 2024
Solid strategy
In the same vein, was the visit of the Emir of the State of Qatar to Germany, where Doha succeeded during the recent period in building a strong strategic partnership with it, and became an active strategic partner for it in the Gulf and Middle East regions, through intensive efforts and continuous activities, within the framework of a prosperous process of relations between… The two countries.
During his visit to Berlin, the Emir of Qatar discussed with German President Frank Steinmeier, Chancellor Olaf Schulz, and a number of senior German officials, bilateral relations between the two countries, especially trade, economic and investment, in addition to reviewing regional and international issues of common interest.
The visit of the Emir of Qatar to Germany represented a new opportunity to advance and strengthen bilateral relations between Doha and Berlin and develop them in a way that serves their common goals, building on many previous visits, which witnessed the signing of an agreement to establish an “energy sector partnership” aimed at supplying Germany with liquefied gas starting in 2026.
#Qena_Video |
CEO of Deutsche Bank #Qena: The visit of His Highness the Amir represents a very important moment for bilateral relations between the two countries#Qatar #Germany pic.twitter.com/qhhwFji0Sm– Qatar News Agency (@QatarNewsAgency) October 22, 2024
Power supply
This partnership is expected to enhance the diversification of Germany’s energy supply through LNG imports from Qatar, while at the same time facilitating bilateral cooperation in hydrogen energy and renewable energy sources.
In this context, Nizar Marouf, Regional Director of the German Federal Association for Small and Medium Enterprises (BVMW) in Qatar, stressed that the visit of the Emir of Qatar to the Republic of Germany constitutes a unique opportunity to enhance market diversification for the Qatari private sector.
Marouf told Qatar News Agency that this visit will contribute to opening new horizons for Qatari businessmen and expanding cooperation with their German counterparts, which will contribute to enhancing economic growth and trade exchange between the two countries, explaining that these official visits create a positive climate for concluding new deals and exploring new markets in sectors. Different.
#Qena_Video |
The Executive Director of the German Association of Small and Medium Enterprises confirms to #Qena The importance of partnership between #Qatar and #Germany Economically and politically pic.twitter.com/lpWEKPy1DF– Qatar News Agency (@QatarNewsAgency) October 22, 2024
Diversified investments
He explained that there are currently more than 300 small and medium-sized German companies in the Qatari market, and they operate in various sectors such as technology, engineering and infrastructure. These companies also contribute to strengthening the Qatari economy through large investments and strategic partnerships, and this number is expected to increase after… Last year, the association’s office was opened in Qatar, which will provide new investment opportunities and strengthen the presence of German companies in the region.
Qatari-German economic relations have witnessed steady growth over the past six decades, and Qatar is Germany’s third largest trading partner in the Gulf region, as the volume of trade exchange between the two countries during the past year reached 7.1 billion riyals, compared to 6.8 billion riyals in 2022, an increase of 4.4%.
Germany ranks third among the European countries that most attract Qatari investments after Britain and France, and the State of Qatar is one of the largest investors there with an amount of about 25 billion euros, including the automotive, communications, hospitality, banking, and other important sectors.
Qatar owns shares in the most important German commercial and banking groups, and is the largest shareholder in the giant Volkswagen group for the automobile industry, with a share worth $9 billion. It also invests in Hapag-Lloyd, one of the largest shipping companies in the world, in addition to owning a share. In Hochtief, which is the largest construction company in Germany.
#Qena_Video |
Qatari and German media professionals confirm to… #Qena The importance of His Highness the Amir’s visit to #Germany #Qatar pic.twitter.com/302vMLH3U0– Qatar News Agency (@QatarNewsAgency) October 22, 2024
Commercial exchange
In this regard, the editor-in-chief of the Qatari newspaper Al-Raya, Abdullah Talib Al-Marri, stressed that the visit of the Emir of Qatar to Germany reflects the strength and distinction of relations between Doha and Berlin, and the keenness to strengthen them in various fields and push them towards broader horizons, indicating that the visit will contribute to deepening the partnership. Investment and increasing the volume of trade and economic exchange between the two countries.
Al Marri pointed out that over the past decades, bilateral relations between the two countries have witnessed remarkable growth and prosperity at all levels, to the point that the State of Qatar has become one of the most important international partners for Germany in the Middle East.
He pointed out that the two countries are closely linked to a number of economic agreements and memorandums of understanding, the most important of which are agreements concluded in the field of energy, and others in the industrial, commercial, health, cultural, sports, solar energy, aviation and air transport fields, in addition to the agreement to establish a joint committee for trade and economic cooperation.
He considered that Germany is one of the most important investment destinations for Qatar, as Qatari investments in Germany include the most important leading industrial sectors in the German economy, and focus mainly on the automobile industry, banking services, microtechnology, shipping, the pharmaceutical industry, and other important sectors.
For his part, the editor-in-chief of the Qatari newspaper Al-Watan, Mohammed Hajji, said, “The visit of Sheikh Tamim bin Hamad Al Thani to Germany represents a qualitative addition to bilateral relations between the two countries, and enhances cooperation between them in various political, economic, educational and other fields.”
Hajji pointed out that the agreements signed during the visit will contribute to strengthening relations between Qatar and Germany, which have witnessed tangible development in several vital sectors, stressing the importance of the Qatari-German role in resolving regional crises in view of the experience that the State of Qatar enjoys in mediation and conflict resolution. Aspect of the relations between Germany and various international parties.
Source : The island + Qatar News Agency (QNA)
