Qatar, Germany discuss mutual investments to strengthen ties

25/04/2025 03:02 AST

Qatar Chamber (QC) hosted a high-level German trade delegation yesterday, led by H E Hendrik Wüst, Minister-President of the State of North Rhine-Westphalia. The delegation was received by Sheikh Khalifa bin Jassim bin Mohammed Al Thani, Chairman of Qatar Chamber.

The Chamber organised a joint business meeting between the German delegation and several prominent Qatari businessmen. The meeting explored avenues to strengthen bilateral cooperation and discussed the investment climate in both Qatar and North Rhine-Westphalia, highlighting promising investment opportunities. Discussions also underscored the pivotal role of the private sector in advancing trade and economic relations between the two sides.

Key sectors identified for potential cooperation included information technology, energy, shipping, sports, petrochemicals, ports, engineering, pumping systems, semiconductor solutions, and polymer materials.

In his remarks, Sheikh Khalifa bin Jassim emphasised that the meeting aimed to explore new avenues for expanding bilateral trade and economic cooperation, particularly through the private sector, given its vital role in both Qatar and Germany.

He noted that the trade volume between the two countries reached $6bn in 2024, with Qatari imports from Germany amounting to $5.1bn and exports to Germany reaching approximately $900m.

"Germany is a key destination for Qatari investments across various sectors, including the automotive industry, telecommunications, financial services, and real estate," he added.

He noted that hundreds of German companies are currently operating in Qatar across key sectors, either through full ownership or in partnership with Qatari businesses.

Sheikh Khalifa further stated that, in line with the directives of His Highness the Amir, Sheikh Tamim bin Hamad Al Thani, to promote foreign direct investment, the Qatari government has proactively accelerated its transition toward a diversified and knowledge-based economy.

He emphasised that Qatar is among the world's fastest growing and most promising markets, offering vast opportunities in sectors such as renewable energy, education, real estate, tourism, high technology, sports, security, and healthcare.

For his part, H E Hendrik Wüst, Minister-President of the German state of North Rhine-Westphalia, praised the strong relations between Qatar and Germany, noting that Qatar has become a regional hub for business, media, and sports. He also lauded Qatar National Vision 2030, particularly its focus on two key pillars: sustainability and economic diversification.

Wüst emphasised that North Rhine-Westphalia is a leading industrial region in Germany, home to a wide array of major industries. He noted that the region is undergoing a significant transformation-from coal and steel to artificial intelligence and advanced technology-creating vast opportunities for cooperation with the Qatari private sector.

During the meeting, Felix Neugart, CEO of NRW Global Business, delivered a presentation on the investment landscape and opportunities in North Rhine-Westphalia. He highlighted that the state is Germany's most economically and industrially robust region, home to many of the country's largest corporations and a thriving startup ecosystem.

He outlined five key sectors where Qatari investors can explore opportunities: artificial intelligence and advanced technologies, high-tech and nanotechnology, hydrogen production and carbon emissions reduction, biotechnology, and aviation.

The Peninsula