Qatar Financial Centre Discuss Expansion Opportunities with German Corporations
H.E Sheikh Saoud Bin Abdulrahman Al Thani, Ambassador of the State of Qatar to the Federal Republic of Germany and senior representatives from QFC, Manateq and Ghorfa at the QFC Germany Roadshow (Photo: ME NewsWire)
Relations between Germany and Qatar have continued to strengthen over the past few years with Germany emerging as the 12th largest trading partner for Qatar with 2.4% of the total value of trade exchange. Trade exchange between the two countries reached €2.47 billion in 2016 and German companies in Qatar are playing an important role in cementing the two countries' economic relations. Currently, there are 27 companies fully owned by Germans operating in Qatar with a total capital of €340 million in addition to 112 companies in partnership with Qataris working with a total capital of €290 million. These companies are operating in the fields of railway development, trading, contracting, services, communication, infrastructure and more.
The roadshow also provided attendees with an opportunity to network with some of the MENA region’s most influential decision-makers, including Ghorfa, AHK, Manateq and Rödl & Partner. Furthermore, attending companies also had the opportunity to receive one-to-one consultation sessions with QFC’s leading experts.
The event was attended by H.E Sheikh Saoud Bin Abdulrahman Al Thani, Ambassador of the State of Qatar to the Federal Republic of Germany. Commenting following the event, he stated: “I am pleased to have been part of this event and to support the Qatar Financial Centre in its outreach programme to promote Qatar as the ideal location to do business in the Middle East. We are well aware of the importance Qatar-Germany relations, which we believe such events help to further foster."
Speaking on the importance of the relations between the two countries, Abdulaziz Al-Mikhlafi, Secretary General at the Arab-German Chamber of Commerce and Industry stated: “We are confident that the QFC Germany Roadshow will further contribute to grow and strengthen Qatar-German economic relations. We look forward to collaborating again with the QFC to host events that aim to foster economic ties."
QFC Authority's CEO, Yousuf Mohamed Al-Jaida spoke on the importance of such initiatives in furthering strengthening bilateral trade stating: "We are confident that our initiative provides the opportunity for German investors and companies to discuss investment prospects in Qatar, and get acquainted with the support provided by the QFC to firms to expand globally. Through such outreach events, we hope to grow the business and finance relations between the two countries and further promote bilateral trade and investment."
The roadshow also coincides with the Qatar-Germany year of culture; an event presented by institutions in Qatar and Germany throughout 2017, aimed at bolstering ties between both countries through mutual exchange of arts, culture, and sport, as well as promoting dialogue, mutual understanding, recognition and appreciation between Qatar and Germany.
The QFC Germany Roadshow is one of a number of initiatives that seek to strengthen and further develop bilateral and economic relations between the two countries, and discuss opportunities to expand in the Middle East through the unrivalled QFC platform.
The QFC welcomes a broad range of financial and non-financial services firms.
For more information about the permitted activities and the benefits of setting up in the QFC, please visit qfc.qa
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*Source: ME NewsWire