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Posted On: 7 September 2018 02:39 pm
Updated On: 12 November 2020 02:19 pm

New era of Qatar-Germany ties as Amir announces 10 billion euros investment for Berlin

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The Amir H.H. Sheikh Tamim bin Hamad Al-Thani in a speech at the opening of the Qatar-Germany Business and Investment Forum announced today (Friday) his intention to invest 10 billion Euros into the German economy in the next five years.

The 9th edition of the forum began this morning at the Maritim Hotel in Berlin, with Chancellor of Germany Dr Angela Merkel, Mayor of Berlin Michael Muller and a large number of Qatari and German businessmen as well as journalists in attendance.

Amir's Germany speech 2018
(Source: Qatar Airways Twitter)

The highlights of Amir's speech are as follows:

  • The Amir said that he treasures the distinct relations of cooperation and friendship with Germany, which began more than 60 years ago, making Germany a current strategic partner with the State of Qatar.
  • The Amir acknowledged the strength of the German economy, and Germany's central active role in Europe.
  • The Amir honoured the relationship between Qatar and Germany which has been strengthened over the past seven years, especially in the field of trade, investment and construction.
  • The Amir said that the volume of trade exchange between the two countries has doubled between 2011 and 2016 to reach about 2.8 billion Euros, mostly in favor of Germany, which has become the third largest world exporter to Qatar.
  • The Amir added that Germany is an important destination for Qatari investments totaling nearly 25 billion Euros.
  • Tourism-wise, the Amir noted that Qatar Airways' many flights to Germany have contributed to a rise in the number of German visitors to the State of Qatar, which increased with a high rate in 2017.
  • The Amir has signed an agreement to open a German university in Qatar under the supervision and administration of the Technical University of Munich, in cooperation with the Qatars private sector.
  • The Amir concluded the speech by saying that he and his people won't forget Germany's moral attitude in rejecting the ongoing illegal measures imposed last year on the State of Qatar by some of its neighbors.

What do you think of Qatar and Germany's renewed and stepped-up economic ties? Drop us a line in the comments section below and don't forget to like and share this article—it keeps us going!

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(Cover image courtesy of Reuters UK)