DOHA, 30 June – Trade exchange between Qatar and Germany hit an all-time high of 11.2 billion Qatari riyals in 2021, according to a Qatari official, securing a growth rate of 75% compared to the previous year.
Both nations have been working on enhancing commerce ties and securing important deals, so much so that the trade exchange jumped to five billion riyals within one year.
In a statement addressing this year’s Arab-German Economic Forum in Berlin, Qatar Chamber Chairman Khalifa bin Jassim Al Thani stated that Germany is one of the most important investment destinations for the Gulf nation.
Among the most significant sectors receiving money from Qatar are the European nation’s automotive industry, telecommunications, hospitality, and banking services.
Meanwhile, on a regional level, the Arab-Germany trade exchange totalled around €41.2 billion, securing an increase of 10% from the previous year.
Arab exports to Germany amounted to roughly €12.4 billion, while the opposite reached €28.8 billion.
Last week, Qatar Chamber took part in a joint meeting with the Executive Office and the Board of Directors and the General Assembly’s meeting of the Arab-German Chamber of Commerce and Industry “Ghorfa” and the Arab-German Economic Forum.
Both events were held in Berlin with the aim of strengthening trade and economic cooperation relations between Germany and Arab countries.
The delegation consisted of several members of the Board of Directors, including Mohammed bin Mahdi Al Ahbabi, Dr. Khalid Klefeekh Al Hajri, Rashid Nasser Rashid Saree Al Kaabi, the General Manager Saleh Bin Hamad Al Sharqi, Director of the General Manager’s Office Mohammed Saad Al Muhannadi, and several Qatari businessmen.
As part of the agenda, officials discussed ways to explore new sectors and areas of cooperation, particularly those that are connected to contemporary technologies and techniques, in a bid to work to utilise them in modernisation and economic diversification programs in Arab countries.
Qatari officials also met with Minister of Trade and Industry of the Arab Republic of Egypt Nevin Jameh to discuss ways to boost the amount of commercial exchange between the two countries.
As part of the plan, both sides agreed to establish a joint Qatari-Egyptian exhibition to promote products and industries from both ends under one roof. — Doha News