German Vice Chancellor, Qatari Businessmen Association Discuss Economic Relations

Doha, March 20 (QNA) - HE Vice Chancellor and Federal Minister for Economic Affairs and Climate Action of the Federal Republic of Germany Dr. Robert Habeck said Sunday that his visit to Qatar heading a high-level economic delegation aims at strengthening the economic relations between the two countries and exploring new opportunities in both Doha and Berlin. This came during a meeting between the German Vice Chancellor and the Qatari Businessmen Association (QBA) attended by more than 100 guests from the business community in both countries. During the meeting, HE Chairman of the Qatari Businessmen Association Sheikh Faisal bin Qassim Al-Thani described the visit of HE Dr. Robert Habeck to Doha as a distinguished and important step towards strengthening the relations between the two countries. HE praised the investments of German companies in Qatar, which contributed to the success of a number of Qatar World Cup projects, as well as Qatar Vision 2030, in addition to the success of the investments of a number of Qatari companies in Germany in various fields. For his part, QBA first Deputy Hussein Ibrahim Al Fardan underlined that QBA is working to link economic relations with delegations and major companies that visit Qatar and translate this into real investments. He called on German companies to invest in Qatar, as Qatari law offers significant incentives to foreign investor and proper investment climate for all international companies accompanied by a package of legislation, a sophisticated infrastructure as well as a strong logistical structure. HE Ambassador of the Federal Republic of Germany to Qatar Dr. Claudius Fischbach said that the German delegation, which includes major German companies active in the sectors of energy, technology, industry and finance, discussed joint investment opportunities, given the great potential offered by Doha and Berlin. The volume of bilateral trade between Qatar and Germany amounted to 11.2 billion riyals in 2021, up from 6.4 billion in 2020, according to the Planning and Statistics Authority. This qualitative increase is due to the increase in the volume of Qatari exports from 500 million riyals to more than 5 billion Qatari riyals. Most of the Qatari imports are cars and aircraft spare parts, while liquefied gas is the backbone of Qatari exports. (QNA)