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Qatar's emir says to invest 10 billion euros in Germany

Key Points
  • Qatar's Emir Tamim bin Hamad al Thani said the country will invest $11.64 billion in Germany.
  • Chancellor Angela Merkel who spoke at the conference said she welcomed the Qatari investments.
Qatar's Emir Sheikh Tamim bin Hamad al-Thani.
Fayez Nureldine | AFP | Getty Images

Qatar will make 10 billion euro ($11.64 billion) of direct investments into Germany in the next five years, Qatar's Emir Tamim bin Hamad al Thani said in Berlin on Friday.

"To express our trust in the strength of the German economy and the importance of investing in it, I announce the intention of Qatar to pump investments that amount to 10 billion euros into the German economy in the next five years," al Thani said.

In his opening speech at a German-Qatari investment conference in Berlin, the emir said trade between the two countries had doubled to around 2.8 billion euros, but the volume declined slightly in 2017.

Chancellor Angela Merkel who spoke at the conference said she welcomed the Qatari investments.