Young Qatari and German entrepreneurs, small and medium-sized enterprises (SMEs), and women in entrepreneurship stand to gain from the Joint Germany-Qatar Economic Commission meeting slated on February 19 in Berlin, German ambassador Hans-Udo Muzel has said.
The joint government-to-government (G2G) and business-to-business (B2B) meetings to be held next month not only aim to bolster investment cooperation between Qatar and Germany but also to provide new platforms for both countries’ up-and-coming entrepreneurs, the ambassador said.
Asked about the types of businesses prospects for these young entrepreneurs, Muzel said, “For Qatar, it would certainly be everything from IT to the food sector and agriculture – all under the new vision of Qatar to become a self-sufficient nation.”
“Certainly the big companies know what to do but we think it would be a very special output of our meeting in February for the young and upcoming entrepreneurs. The veterans in the industry know better because they have the expertise.
“But we have to kick-start this process and to also bring our younger generation closer to the business community. This is not only Qatar being active in Germany but also the other way around,” Muzel told Gulf Times.
He also said the German Development Bank (KFW) and Qatar Development Bank (QDB) would be involved in the process, including the transfer of German expertise to the world “and vice versa.”
“This is something new…together with the bigger companies we wanted to open a new avenue and exciting programmes to involve young entrepreneurs, and especially women in entrepreneurship,” Muzel emphasised.
According to the ambassador, the joint economic commission, which will be headed by both countries’ economic ministers, will steer the direction of the Qatari investments to be poured into the German economy.
At the Qatar-Germany Business and Investment Forum held last September 2018 in Berlin, His Highness the Amir Sheikh Tamim bin Hamad al-Thani announced that Qatar intends to invest €10bn in Germany over the next five years.
On the sidelines of last year’s forum, HH the Amir and German Chancellor Dr Angela Merkel also witnessed an agreement signing to form the ‘Joint Task Force for Business and Investment’, which held its inaugural meeting last December 2018.
For next month’s meeting, Muzel said ‘Joint Task Force for Business and Investment’ agreed to work out an action plan of about 10 points “for both ministers’ consideration and approval.”
“This is the first time we would have a G2G and a B2B forum, so this is like a double-action programme to assure a joint approach in decision making of government and the business community. The proper working out of the programme, such as how to start a business, will be done within the B2B community programme.
“For example, one of the main topics of the G2G meeting would be increased investments, the other €10bn Qatari investments in Germany, of which €1bn will be put on SME activities,” the ambassador said.
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The Arab states of the Persian Gulf are the seven Arab states which border the Persian Gulf, namely Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).This excludes the non-Arab state of Iran. All of these nations except Iraq are part of the Gulf Cooperation Council (GCC).