Chairman of Qatar Chamber Sheikh Khalifa bin Jassim Al Thani
Doha: The visit of the Amir H H Sheikh Tamim bin Hamad Al Thani to the Federal Republic of Germany will expand opportunities and open doors for further cooperation in the commercial and economic fields, which will positively affect the business sectors in both countries, Chairman of Qatar Chamber Sheikh Khalifa bin Jassim Al Thani has said.
In a statement to QNA, Sheikh Khalifa said trade relations between the two countries have witnessed great development in recent years, as Germany is an important trading partner for Qatar.
Trade exchange between both countries rose by 75 percent in 2021 despite the COVID-19 pandemic and its repercussions on the global trade movement, with bilateral trade amounting to about QR11.2bn last year, compared to QR6.4bn riyals in 2020.
Sheikh Khalifa stressed that the Qatari market is attractive for German companies, with plenty of opportunities in various economic sectors, particularly to industries that depend on advanced technology.
He pointed to the presence of around 300 German companies currently operating in the Qatari market in various sectors such as trade, contracting services, shipping, medical equipment and devices and others, in addition to the participation of German companies in infrastructure projects as well as in World Cup projects.
At the same time, Germany is a major destination for Qatari investments in the European continent, with Qatar’s investments in the country now valued at about €25bn, which include investments in the automotive industry, telecommunications, hospitality, banking and other important sectors.
Qatar owns stakes in the most important German commercial and banking groups, as it is the largest shareholder in the Volkswagen Group, with a stake of $9bn, as well as in Siemens and other German companies working in the field of technology, shipping and the pharmaceutical industry.
Volkswagen Group is one of the largest car manufacturers in the world. The German automaker owns a whole host of brands, some of which are familiar household names. Based in Wolfsburg, Germany, the Volkswagen Group is best known for making passenger cars, but it also owns the heavy-duty truck brands MAN and Scania, the latter of which was part of the company that also made Saab cars, in addition to Ducati motorcycles, which Audi owns via Lamborghini.
In the same context, Qatar owns a 21 percent stake in Siemens, a company that specialises in engineering, electronics and medical electrical devices. It was founded in 1847 as an electrical engineering company that produced the electric telegraph.
During the 20th and early 21st centuries, Siemens acquired and merged with many other companies to increase its capabilities and expand its specialisations in the various sectors it is operating in today, including industry, energy, healthcare, and infrastructure.
Managing Director of Siemens Energy Qatar Herbert Klausner said in an exclusive statement to QNA that Siemens Energy has been partnering with Qatar for 50 years. He added that the two sides have worked together on many major projects such as new infrastructure projects in the country, and other miscellaneous projects.
Klausner stressed the importance of the Amir H H Sheikh Tamim bin Hamad Al Thani’s visit to Germany, stating that he expects several talks on energy given the great importance that this issue has acquired recently, in addition to discussing the distinguished economic and political relations between the two countries.
He explained that he sensed a great Qatari desire to modernise, develop and own technology in order to move forward, adding that at Siemens, they are proud of this permanent and fruitful cooperation for both sides in many fields, and they have always contributed to projects related to oil, gas and power stations. Siemens Energy has 160 workers in Qatar who provide services on a permanent basis.
Regarding Qatari investment in the company, Klausner explained that the company exploits any investment in order to develop performance, research, work and develop the market itself, so that the company can provide its services well to all its customers.
He said the Qatar Investment Authority (QIA) does not deal with Siemens Energy only, but with many German companies due to the Qatari desire to move towards technology in many fields, stressing the existence of great integration between both countries. Qatar has the gas that Germany needs, and Berlin is cooperating with Qatar in all new technological matters, he noted.
QIA’s investments are not limited to companies operating in the industrial and technology sector. It is also involved in the shipping sector by investing in Hapag-Lloyd, one of the largest shipping companies in the world.
CEO of Hapag-Lloyd Rolf Habben Jansen said the company’s dealings with Qatar began in 2016 through an investment cooperation that contributed to the development of the company’s work in the field of shipping.
Jansen added, in an exclusive statement to QNA, that his company is currently ranked 5th in the world, and as a container line, it operates about 250 ships through more than 100 services around the world. It transports around 12 million twenty-foot equivalent unit (TEU) annually. It has offices in 130 countries and employs around 14,000 to 15,000 people.
He also expressed his belief that Qatar is doing well in the field of investment, pointing out that cooperation with Qatar was one of the most successful investments, and that the country has a good vision to invest and work as a team.
He extended his thanks to the State for its support and partnership during the past six years, and expressed his company’s hope for continued partnership for many years to come.
Qatar also owns a stake in Hochtief, a German construction company based in Essen, North Rhine-Westphalia, which is also considered as Germany’s largest construction company and operates globally. Hochtief ranks as one of the largest general construction companies in the United States through its Turner subsidiary, and in Australia through a 90 percent shareholding in CIMIC Group.
In another aspect of economic cooperation between Germany and Qatar, Analyst and Consultant on Energy and International Affairs Dr. Thomas W. O’Donnell affirmed that energy will be at the top of the agenda during the visit of the Amir to Germany, indicating Germany’s aspiration to search for new gas supplies.
In an exclusive interview with QNA, O’Donnell added that Germany has recently realised the need to diversify natural gas sources, and is currently building four gas storage stations, which will certainly help in achieving stronger relations with Qatar in the field of energy, especially in importing Qatari gas at present or in the near future.
O’Donnell expected the success of Qatar’s plans in increasing liquified natural gas (LNG) production in Al Shamal field, which the country has recently announced, adding that this increase will generate encouragement for many countries, including Germany, which aspires to obtain a share of the new production. It may take years, but Germany will certainly not miss this opportunity and will work to diversify its sources of gas, to avoid solely relying on Russian gas, he added.
This development and integration in the economic relations between Qatar and Germany, as well as their growth over the past few years and their expansion in several sectors undoubtedly reflect the depth and strength of the Qatari-German relations, which leads to further cooperation and integration, leading -in turn- to the consolidation of the partnership that enhances the aspirations of development between both countries.
