Qatar agreed to invest €10 billion ($10.83 billion) in French start-ups and various funds between now and 2030, during an official state visit to Paris this week by Emir Tamim bin Hamad Al Thani, his first such visit to France since taking the throne in 2013.
A read out by the French presidency on Tuesday said the new investments will target key areas, including the aerospace, energy, semiconductor, artificial intelligence, digital, health, hospitality and cultural sectors.
Doha and Paris have long-term political and economic ties and signed several other agreements during Sheikh Tamim’s visit, including pacts between the French Agency for Development and the Qatar Fund for Development.
On Wednesday, France held an economic forum with Qatar to explore investment opportunities in various sectors. At the event, Sheikh Khalifa bin Hamad bin Khalifa Al Thani, Qatari minister of interior and commander of the Internal Security Force, and Gerald Darmanin, French minister of interior and overseas territories, signed deals to boost security cooperation, including a pact whereby Qatar will help with security for the Summer Olympic Games, which will be held in Paris July 26–August 11. Under the agreement, Qatari personnel will participate in patrols, drone surveillance and explosive ordnance disposal, the Qatar News Agency reported. France, along with other countries, had helped provide security for the 2022 FIFA World Cup in Qatar.
Qatar’s current investments in France are involved in a number of sectors, including real estate, retail, transportation and sports. France meanwhile has invested heavily in Qatari oil and gas infrastructure, aviation and security as well as other areas.
The two countries have strong military ties. For example, in 2017 Qatar agreed to purchase 12 French-built Rafale fighter jets for $1.3 billion. France also provides Qatar with its BASSALT anti-drone system.
Bilateral trade between France and Qatar has been growing steadily, reaching 16.5 billion Qatari riyals ($4.53 billion) in 2022, up from 4.9 billion riyals ($1.35 billion) in 2017.
Additional aid to Gaza
Qatar has been a key mediator in the Israel-Hamas war, and Sheikh Tamim's visit came as negotiators from Qatar, Egypt, and the United States were attempting to broker a six-week cease-fire deal in the conflict. France has been active in negotiations on Gaza as well, while Qatar brokered a seven-day cease-fire in November that also included an exchange of Palestinian prisoners and hostages taken captive by Hamas in Israel.
During Sheikh Tamim's visit, Qatar and France committed to providing an additional $216.6 million in aid for the Palestinians. Before traveling to France, the Qatari emir met with Hamas political leader Ismail Haniyeh in Doha on Monday.
More than 30,000 Palestinians have been killed in Israel’s military offensive in Gaza, launched after Hamas militants attacked southern Israel on Oct. 7 and killed 1,130 people and abducted some 240 others, roughly 130 of whom continue to be held.
