Trade Exchange Between Qatar and Germany Reaches US$946 Million in H1 2020
Qatar Chamber 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 by the president of the Arab-German Chamber of Commerce and Industry Peter Ramsauer, and participated by Secretary General Abdulaziz Al Mikhlafi and by presidents of different chambers of commerce and industry in several Arab countries. Qatar Chamber 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 the approval of the final accounts for 2019 as well as the draft budget for 2021.
According to Sheikh Khalifa, the Arab-German economic relations have significantly developed during the previous years, noting that the value of trade between them reached €44.3 billion in 2019. Arab exports to Germany reached €12.9 billion, while Arab investments have reached nearly €100 billion.
With regards to Qatar-Germany relations, Sheikh Khalifa said that both countries are associated with strong relations especially in economic and commercial fields, citing their trade exchange exceeded US$946 million in the first half of 2020 in spite of repercussions brought by COVID-19.
Trade volume for both countries amounted to US$2.3 billion last year compared to US$2.1 billion in 2018, an increase of 10%. Germany is among the most important destinations for Qatari investments, distributed in a range of sectors such as automobiles, telecommunication, hospitality, banking services, among others.
According Qatar Chamber GM Saleh bin Hamad Al Sharqi, the Arab-German Chamber of Commerce and Industry plays a key role in enhancing cooperation between business sectors in Germany and in Arab countries, as well as promoting trade and investment cooperation between both sides.
Arab countries have benefitted more from German expertise in many strategic projects especially in infrastructure and energy sectors.
Over 300 German companies are currently operating in Qatar in various fields including rail, roads, infrastructure, construction, medical devices and equipment, and others.
Al Sharqi affirmed that they seek, through the Arab-German Chamber of Commerce and Industry, not only to develop trade between the two parties, but also to build genuine partnership that will enhance German technology in Qatar and in different Arab countries.
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