Economic and Strategic Partnership: Emir of Qatar's Visit to Germany and Italy
The Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, recently completed a significant visit to Germany and Italy, focusing on economic collaboration and strategic partnerships. This visit followed the first summit between the European Union and the Gulf Cooperation Council, which Qatar chaired, aimed at activating strategic agreements, particularly a free trade agreement. The discussions during his visit encompassed various pressing issues, including the ongoing Israeli conflict in Gaza and Lebanon, alongside bilateral relations with both Germany and Italy.
In a joint statement issued after the meetings, Qatar and Italy emphasized their commitment to enhancing bilateral strategic dialogue, with plans for the next session to take place in Doha. The two nations also agreed on the necessity of fostering partnerships in migration management and combating organized crime and human trafficking. They recognized the importance of international cooperation to address the root causes of migration and to create sustainable pathways for migration.
Strengthening Economic Ties and Energy Cooperation
The Emir’s discussions with German officials, including President Frank-Walter Steinmeier and Chancellor Olaf Scholz, centered on deepening trade, economic, and investment relations. A notable outcome of the visit was the reaffirmation of the energy sector partnership aimed at supplying Germany with liquefied natural gas (LNG) starting in 2026. This partnership is expected to diversify Germany's energy sources while promoting cooperation in hydrogen and renewable energy sectors.
Nizar Marouf, Regional Director of the German Federal Association of Small and Medium-sized Enterprises in Qatar, highlighted that the Emir’s visit opens new avenues for Qatari businesses and strengthens ties with German counterparts. Currently, over 300 small and medium-sized German companies operate in Qatar, contributing significantly to the local economy. The trade exchange between Qatar and Germany reached 7.1 billion riyals last year, marking a 4.4% increase from 2022, solidifying Qatar's position as Germany's third-largest trading partner in the Gulf region.
Qatar's investments in Germany, estimated at around 25 billion euros, span critical sectors including automotive, communications, and banking. Qatar holds substantial stakes in major German corporations, including a $9 billion investment in Volkswagen and significant shares in Hapag-Lloyd and Hochtief. The Emir's visit is viewed as a pivotal moment in enhancing the already robust economic ties between the two nations.
