By Santhosh V Perumal /Business Reporter
The Qatar Financial Centre Authority (QFCA) yesterday entered into a co-operation agreement with Paris Europlace, an association of major institutions in French financial markets.
The agreement broadly sets out areas of co-operation between both organisations to enhance the growth of financial services in the two countries.
The deal was signed by Stuart Pearce, CEO and director general of the QFCA and Arnaud de Bresson, managing director, Paris Europlace in the presence of French Economy Minister Christine Lagarde.
The agreement covers several areas such as co-operation in mutual marketing and promotional activity, establishment of strong working relationships between the two organisations and more generally the promotion of the economic development in the Qatar and France.
“We feel confident that this agreement with Paris Europlace will encourage French firms to enter the Qatari market and to participate in our dynamic economic growth,” Finance Minister and QFCA chairman HE Yousef Hussein Kamal said.
Lagarde said the partnership testified the quality of the relationships between France and Qatar. The deal will also showcase the importance of measures taken by the French government to improve the attractiveness of the country’s financial marketplace and welcome the international long-term investors and the Islamic finance professionals.
“We have already licensed a number of French firms to operate from the QFC, but we see scope for more and this agreement will help us both to stimulate interest in what the QFC has to offer and identify the firms with the greatest interest in developing new business in Qatar and the region,” Pearce said.
Bresson said the agreement underline the willingness of Paris and Doha to work closely, strengthen ties and develop co-operation in promising sectors, offering opportunities in the short and long term such asset management, environmental finance, insurance, real estate and stock markets.
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