The Investment Promotion Agency of Qatar (IPA Qatar) and the German Federal Association of Small and Medium Enterprises (BVMW) have entered into a partnership deal to establish a representative office in Qatar.
The memorandum of understanding (MoU), which was signed by Sheikh Ali Alwaleed al-Thani, CEO of IPA Qatar and Mr. Markus Jerger, Executive Director of BVMW in the presence of the Minister of Commerce and Industry, Sheikh Mohamed bin Hamad bin Qassim al-Abdullah al-Thani, establishes the BVMW’s first-ever headquarters in the Gulf Co-operation Council (GCC) region.
The signing ceremony was held after the Minister’s meeting with Mr. Jerger and his accompanying delegation. During the meeting, the officials discussed ways to promote trade and economic cooperation between Qatar and Germany.
During the meeting, the Minister appreciated this major step, saying that it reflects the keenness of the Qatari and German governments to consolidate their strategic partnership. This is especially in light of the two sides’ common denominators, which have been translated into initiatives to enhance Qatari-German trade and investment exchange.
Further, the Minister added that the MoU would allow German small and medium-sized enterprises (SMEs) to learn and benefit from the investment opportunities and advantages available in Qatar. The MoU moreover offers them the possibility of expansion into various markets in the region.
The headquarters is scheduled to start its operations in Doha early next year and the office aims to strengthen Qatari-German relations in the business field by connecting the 9,000 BVMW members with their Qatari counterparts.
