The Investment Promotion Agency Qatar (IPA Qatar) and the German Federal Association of small and medium-sized businesses (BVMW) announced a strategic partnership to establish a representative office in Qatar, creating the BVMW’s first ever headquarters in the GCC region.
The office, which will launch its operations early next year from Doha, aims to bolster Qatari-German business cooperation by connecting 900,000-BVMW alliance members with Qatari counterparts. It will also serve as a hub for connecting German businesses with potential partners across the region.
The partnership was revealed during the signing ceremony of the IPA Qatar-BVMW Memorandum of Understanding (MoU).
This new collaboration follows the announcement by The Amir HH Sheikh Tamim bin Hamad al Thani, during his meeting with German Chancellor Angela Merkel in 2018, to expand investment and economic cooperation between Qatar and German small and medium-sized businesses (SMEs).
In the presence of HE Sheikh Mohammed bin Hamad al Thani, Minister of Commerce and Industry and Chairman of IPA Qatar, the MoU was signed by Sheikh Ali Alwaleed al Thani, CEO, IPA Qatar, and Markus Jerger, Executive Director, BVMW.
The agreement underlines the two organisations’ commitment to jointly advance Qatari-German economic and commercial cooperation and identify new opportunities within the SME sector. It also sets forth the framework for collaboration with regards to the promotion and provision of support for the establishment and expansion of German companies into Qatar.
Additionally, the agreement entails joint initiatives in marketing, business facilitation, knowledge transfer and exchange of expertise through hosting cross-promotional business and investment events.
Commenting on the new partnership, Sheikh Ali said: “We are pleased to join forces with BMVW and contribute to the establishment of their first headquarters in the region, which is a testament to Qatar’s conducive business environment, and its leading position as a thriving investment hub.”
He added: “Qatar is proudly home to more than 300 German companies, actively operating in a variety of sectors, such as trade, construction, services, and medical equipment among others. With the close collaboration with BMVW, we are looking forward to supporting more German SMEs to pursue their business growth ambitions in Qatar and the region.”
Jerger said: “The German SMES are the economic backbone of Germany. I am sure that our GCC office in Doha will help to establish numerous and successful Qatari-German joint ventures in the coming years. This will strengthen the common economy and will tighten the relations with our important partner Qatar as well.”