Germany opened its first representative office in the Gulf region and its German Federal Association for Small and Medium-Sized Businesses (BVMW) established its headquarters in Qatar.
The move was announced as part of a collaboration agreement between BVMW and Qatar's Ministry of Commerce and Industry (MoCI).
BVMW Executive Director Markus Gerger visited Qatar and met with the Minister of Commerce and Industry of the Gulf States, Sheikh Mohammed bin Hamad bin Qasim Al Thani.
Both sides discussed ways to further increase investment and develop trade and economic cooperation. The economic measures taken by Qatar to diversify its economy were also discussed in the meeting.
MOCI Undersecretary Sultan bin Rashid Al Khater and Jerger signed the agreement.
The Qatari minister appreciated the importance of the agreement, which is proof of the interest shared by both sides to strengthen the alliance and promote business sector cooperation.
He said these collaborative efforts will help German SMEs access more investment opportunities in Qatar and open up new markets in the region.
Qatar is currently one of Germany's largest foreign investors, with investments amounting to around 25 billion euros, Gerger noted.
