The trade between Qatar and Germany reached QAR7.1 billion ($1.94 billion) in 2023, according to Sheikh Khalifa bin Jassim bin Mohammed Al-Thani, chairman of the Qatar Chamber. This figure marks an increase from QAR6.8 billion in 2022, reflecting a growth of 4.4 percent.
This was revealed during Sheikh Khalifa’s address in the joint session of the Executive Office and the Board of Directors of the Arab-German Chamber of Commerce and Industry held lately in Berlin. He also highlighted the rapid advancements in Arab-German economic relations, noting that trade between Arab nations and Germany surged by 20 percent last year, surpassing EUR60 billion ($66.23 billion), compared to EUR51 billion in 2022.
The meeting focused on strategies to enhance trade and industrial cooperation between Arab nations and Germany, as well as on increasing intra-regional trade rates.
Supporting Germany’s energy security
In November 2022, QatarEnergy, Qatar’s state-owned oil and gas company, agreed to send Germany two million tons of liquefied natural gas (LNG) a year.
According to the company’s CEO, deliveries will start in 2026. The gas will be sold by Qatar to the U.S. company ConocoPhillips, which will then deliver it to the LNG terminal in Brunsbüttel, Qatar’s energy minister said in the capital, Doha.
Qatar aims to “contribute to efforts to support energy security in Germany and Europe”, Energy Minister and QatarEnergy CEO Saad Sherida al-Kaabi said.
Moreover, Germany consumes around 100 billion cubic meters of natural gas annually, a little over half of which had been coming from Russia. The deal struck with QatarEnergy covers around 2.7 billion cubic meters per year.
For more news on logistics, click here.
