IPA Qatar, BVMW pact to bolster Qatari-German economic, commercial ties

The strategic partnership between Investment Promotion Agency Qatar (IPA Qatar) and the German Federal Association of Small and Medium-sized Businesses (BVMW) underlines the two organisations’ commitment to jointly advance Qatari-German economic and commercial cooperation and identify new opportunities within the SME sector.

Earlier, IPA Qatar and BVMW forged a strategic partnership by signing a memorandum of understanding (MoU) 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 MoU was signed by IPA Qatar CEO Sheikh Ali Alwaleed al-Thani and BVMW executive director Markus Jerger in the presence of HE the Minister of Commerce and Industry HE Sheikh Mohamed bin Hamad bin Qassim al-Abdullah al-Thani, who is also IPA Qatar chairman.The agreement 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 MoU entails joint initiatives in marketing, business facilitation, knowledge transfer, and exchange of expertise through hosting cross-promotional business and investment events. This new collaboration follows the announcement by His Highness the Amir Sheikh Tamim bin Hamad al-Thani during his meeting with Chancellor Angela Merkel in 2018 to expand investment and economic co-operation between Qatar and German small and medium-sized enterprises (SMEs).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.“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 added: “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.”IPA Qatar oversees investment promotion activities under the ‘Invest Qatar’ brand and acts as the country’s umbrella organisation for FDI attraction. Through its close co-ordination with Qatari licensing platforms, it helps businesses advance their ambitions and achieve long-term success by delivering the support, advice, and expertise needed.Its goal is to showcase Qatar as an exceptional investment destination, connecting international investors to business opportunities, while bringing progress to the country’s economic development and diversification goals across sectors and geographies.The BVMW has a network of more than 300 regional and local offices in Germany and also 68 foreign representations covering 104 countries like the US, China, Russia, and India.