Economy and Trade Minister Stresses Strength of Qatari-German Economic Relations

Berlin, October 16 (QNA) - Qatari Minister of Economy and Trade HE Sheikh Ahmed bin Jassim bin Mohammed Al-Thani has underscored the strength the Qatari - German relations which he said have become a key platform in the development on various levels and areas. Speaking at the fourth meeting of the Qatari-German joint committee for trade and economic cooperation here today, HE Sheikh Ahmed bin Jassim bin Mohammed Al -Thani referred to the economic and investment agreement for economic and trade cooperation and agreements on mutual encouragement and protection of investment between the two countries. He added that the trade between Qatar and Germany is estimated at more than 2 billion euros, an increase of 12.5 percent from 2012. He also noted that this rise reflected the continued growth in the volume of trade and investment between the two countries, highlighting the multiple mechanisms of the development of bilateral relations between the two sides. HE the Minister said that the German investment in the State of Qatar had grown in the previous period as the number of German companies reached 27 active companies with 100 percent owned capital as well as 112 other companies with a Qatari - German joint capital. The Qatari investments in Germany covering a number of areas of economic activity such as operations and investment portfolio, real estate and hotels, HE the Minister added. HE the Minister of Economy and Trade said the Qatari-German Economic Forum held last September on the sidelines of the visit of HH the Emir of Qatar Sheikh Tamim bin Hamad Al -Thani to Germany had demonstrated the strength of the relations between the two countries where the participation of the businessmen and executives of major companies and institutions had enriched the joint debate in economic, trade and investment sectors. HE the Minister said that the economy of the State of Qatar is open, and its laws are flexible and evolving to keep pace with the best international standards. HE the Minister noted that there are sectors where the foreign capital can contribute with 100 percent, while other sectors the foreign capital can enter by 49 percent depending on the type of activity and area of investment chosen by the investor. Qatar encourages and welcomes investment and investors from around the world as partners in sustainable development, HE the Minister stressed. Concluding, HE Minister of Economy and Trade Sheikh Ahmed bin Jassim bin Mohammed Al -Thani expressed the hope that the Committee’s meetings would be successfull, and be full of optimism and hope to reach positive results to implement the agenda in a spirit of mutual understanding and constructive dialogue, so as to achieve the aspired goals and targets to meet the aspirations of the citizens of the two countries and to serve the ambitious development plans in the two countries. HE the Minister of Economy and Trade paid a visit the German Parliament and met a number of officials where he was briefed on the parliamentary system in Germany. The Qatari -Germany joint committee for trade and economic cooperation meeting was attended by senior officials of ministries and Government institutions in the two countries. The two sides agreed to take the necessary steps to develop economic relations and increase bilateral trade, including the facilitation of the flow of goods, services and investment between the two countries. The two sides also confirmed their desire to intensify and increase bilateral cooperation in economics, trade, energy, industry and infrastructure, transportation, aviation, education, health, sports, culture, information technology and agriculture sectors. HE Sheikh Ahmed bin Jassim bin Mohammed Al-Thani, Minister of economy and Trade and Matthias Machnig, state secretary at the federal Ministry for Economic Affairs and Energy signed the minutes of the 4th meeting of the Qatari- German joint Committee for trade and economic and technical cooperation at the end of its work. At the end of the meeting, HE the Minister of Economy and Trade Sheikh Ahmed bin Jassim bin Mohammed Al -Thani witnessed the signing of the aquisition by a Qatari company specializes in the design and development of software applications and electronic games of the German "Kunst-Stoff Kunst" Company, a leading Company in this field.(QNA)