Qatari Business Association (QBA) recently signed a Memorandum of Understanding (MoU) with the German Near and Middle East Association (NUMOV) to enhance cooperation. The signing took place in the presence of several members from the QBA Board of Directors and NUMOV members. Notably, the NUMOV is Germany’s oldest and leading organisation dedicated to fostering economic relations with other countries.
Economic Cooperation Expected To Improve As Result Of Agreement
The MoU will improve economic dealings by promoting trade, industry, investment and technical cooperation between members of both organisations. Accordingly, both sides will work to identify suitable investment opportunities in Germany and Qatar and present them to affiliated companies. Most importantly, German companies have played a vital role in supporting Qatar’s industrial development and technological modernisation. As a result, the country is considered one of Qatar`s most trusted and strategic partners. Notably, the Qatari private sector holds various investments in Germany across sectors such as tourism, retail and technology. Furthermore, there are promising opportunities for cooperation in sectors including renewable energy, sustainable infrastructure, logistics, education, smart technologies and pharmaceuticals. The German delegation included representatives from leading companies in the fields of information technology, artificial intelligence, communications, energy and resources.
Qatar is one of the biggest investors in Germany, with investments exceeding QAR 106.61 billion (EUR 24.68 billion) across key sectors including the automotive industry, telecommunications, hospitality and banking. Bilateral trade between the two countries exceeded QAR 6 billion (EUR 1.39 billion) last year.
Qatar Chamber Discuss Investment Opportunities In Botswana
In associated news from Qatar Chamber, local investors are exploring economic cooperation in Botswana, which is a notable investment destination. Accordingly, the organisation recently hosted Botswana`s presidential envoy to discuss trade relations and ways to develop them. It also reviewed the investment climate and available opportunities in both countries. Further dialogue noted the importance of having flexible legislations that guarantee investment protection and encourage further investments.
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