“In terms of food processing, Qatar’s current local, indigenous production is less than 10%, so the products are getting imported, and Germany can give substantive role in fixing the gap,” Seetharaman told Gulf Times on the sidelines of a forum held in Berlin, Germany. With the “growing opportunities” in the country, Seetharaman stressed that aside from food security, Qatar and Germany could also work together in other sectors such as urban development, renewable energy, and World Cup-related infrastructure projects, including stadiums. “If you look at Qatar’s fiscal framework, it’s all going towards infrastructure creation; even in the last fiscal budget itself, all QR81bn has been projected for government expenditure such as healthcare, education, and infrastructure creation, and that’s where Germany can play a bigger role,” he pointed out.
“With the design specialisation that Germany has got, whether it is in manufacturing or arts and culture, or industrial engineering or machineries, German designs can be a great attribute for quality assurance for urban development, take for example the building of stadiums,” Seetharaman continued. Seetharaman also emphasised that the €10bn Qatari investments for Germany “have to be fragmented into various sectors based on priorities. “It is a commitment…and that is precisely what the opportunities are all about.” He said as Qatar opens up to multiple sectors, the small and medium-sized enterprise (SME) industry is another area the country could further developed with Germany, whose SME sector is regarded as the backbone of its economy.
“The Germans have extraordinary experience in terms of SMEs, and German companies can come in and partake in Qatar’s overall economic expansion in terms of SMEs,” said Seetharaman, who added that Doha Bank plans to bring in more German companies to Qatar.
Sources and photo-credits: Gulf Times