Qatar's MoCI Attends German Association of SMEs’ Annual Reception

His Excellency Saleh bin Majed Al Khulaifi, Assistant Undersecretary for Commerce Affairs at Qatar's Ministry of Commerce and Industry, participated in the annual reception organised by the German Association of Small and Medium-Sized Businesses in Berlin.

This participation reflects Qatar’s determination to strengthen its strategic ties with the Federal Republic of Germany, and support the joint efforts to develop cooperation between the business sectors in both countries. In his speech, H E Al Khulaifi praised the close ties between the State of Qatar and the Federal Republic of Germany.

He also noted the successful participation of Qatar in the Hannover International Industrial Fair in 2022 as an important step in the context of the long-standing Qatari-German partnership, pointing out that bilateral trade has reached US$1.8 billion in 2022.

Regarding investment, H.E. stated that 323 German companies operate in Qatar, playing an important role in supporting the country’s development journey. Germany represents one of the main destinations for Qatari investments abroad, amounting to US$9.9 billion.

Concerning the economic policies adopted by Qatar, H E Al-Khulaifi expressed that the government has strived to diversify the economy by directing the efforts of the private sector toward investment in non-hydrocarbon sectors, such as renewable energy, technology, small and medium-sized enterprises, and infrastructure, in addition to attracting FDI and localizing industries in fields that can help Qatar in its pursuit of self-sufficiency.

He also added that these efforts reflected positively on the growth rates of the economy, as attested by the World Bank, which has stated that the Qatari economy grew by 4% in 2022.

H E the Assistant Undersecretary for Commerce Affairs concluded by expressing his aspiration to explore innovative ways to preserve achievements and face current and future challenges by encouraging joint work between the public and private sectors in both nations.

For his part, Marcus Werger, CEO of the German Association of Small and Medium-sized Businesses, said: “We are pleased that the State of Qatar is participating for the first time in the “Future Day for Small and Medium Enterprises” with 5 participants.