massive investments, diplomacy… Towards a new “honeymoon” between Paris and Doha?

While Emmanuel Macron receives the Emir of Qatar this week, relations between Paris and Doha seem to be warming up.

Beautiful people and big money. The Emir of Qatar, Tamim bin Hamad Al-Thani, is visiting Paris since Tuesday February 27 and until Wednesday evening. President Emmanuel Macron announced that he had signed an agreement with him relating to Qatari investment commitments worth 10 billion euros in the French economy by 2030.We have signed an ambitious investment plan of 10 billion euros“, announced the Head of State during the exchange of toasts with his host, at the opening of the dinner given in his honor at the Elysée.

Around them: former President Nicolas Sarkozy, ardent architect of strengthening ties with Qatar during his mandate (2007-2012), who was at the head table, between the wife of the Head of State , Brigitte Macron, and the president of the Parisian football club PSG, Qatari businessman Nasser Al-Khelaïfi, member of the emir’s inner circle. A few steps away: Kylian Mbappé, captain of the French football team and star striker for PSG, as well as the CEOs of LVMH Bernard Arnault and Xavier Niel, main shareholder of the French telecoms group Iliad.

Diversification of investments

For his first state visit to France since his accession to the throne in 2013, Emir Tamim did not come empty-handed: “These investments will strengthen strategic partnerships between our two countries“, specified the emir, adding that they will intervene in sectors such as energy transition, semiconductors, aerospace, artificial intelligence, digital, health and cultural industries. It is necessary say that with the surge in gas and oil prices following the war in Ukraine, the emirate’s coffers are full. Many countries, and notably France, have signed long-term LNG import contracts , liquefied natural gas.

A new wave of equity investments which further diversifies Qatar’s investments in France, hitherto concentrated in traditional sectors such as hotels with the ACCOR group, energy with Total Energie, or even construction with VINCI, not to mention PSG acquired in 2011. Currently, Qatar has an investment stock in France of around 25 billion euros, which makes France the second country in Europe after Great Britain where the emirate invests the most.

Relaunch the bilateral relationship

What is certain is that this state visit shows that personal relations, sometimes bittersweet, between Emmanuel Macron and Sheikh Tamim are improving. Between the two men, there were differences over political Islam and the Muslim Brotherhood supported by Doha, misunderstandings over the proximity of the French president with Mohamed Ben Zayed, known as MBZ, the president of the United Arab Emirates, the great rival of Qatar.

This state visit allows us to turn the page to relaunch the bilateral relationship both economically and diplomatically. Emir Tamim has become an essential mediator in the negotiations for the release of hostages in Gaza and the establishment of a ceasefire in the Palestinian enclave. And Emmanuel Macron understood that well.