South Korea hosted the sixth session of the joint Qatari-Korean Supreme Strategic Committee, where aspects of co-operation in various priority sectors were reviewed.
HE the Minister of Commerce and Industry Sheikh Mohamed bin Hamad bin Qassim al-Thani and Korean Minister of Trade, Industry and Energy Lee Chang-Yang chaired the sixth session between Qatar and Korea, which was held in Seoul.
A statement by the ministry said that HE the Minister of Commerce and Industry praised the progress made at the level of the committee, appreciating the results reached in areas of common interest.
HE Sheikh Mohamed stressed the importance of bilateral co-operation as a guarantee to support the developmental orientations of both countries, pointing out that Qatar views South Korea as a strategic partner in light of the elements that distinguish the two sides and the agreements and memorandums of understanding that were signed, calling in this context to strengthen cooperation between the Qatari and Korean business communities to benefit from the capabilities of the two countries and to build strong and solid partnerships that serves the aspirations of both sides in achieving progress, development and prosperity.
He also stressed the strength and durability of the economic relations between the two countries, and their future prospects, pointing out in this regard that South Korea is the third-largest trading partner of Qatar, with trade volume that exceeded more than $14bn in 2022.
During the work of the Qatari-Korean Supreme Committee, aspects of co-operation in various priority sectors were reviewed, as well as ways to enhance co-operation in trade, investment, construction, infrastructure, agriculture, maritime transport, civil aviation, Health, education and information technology.
On the sidelines of the session, HE Sheikh Mohamed witnessed the signing ceremony of a number of memorandums of understanding between Qatar and Korea in the economic, trade and investment fields.
The memorandums of understanding signed between the two sides included the signing of a memorandum of understanding between the Ministry of Commerce and Industry and the Korean Intellectual Property Office, in addition to the signing of a memorandum of understanding between the Investment Promotion Agency in Qatar and its Korean counterpart KOTRA with the aim of developing joint cooperation between the two countries and discussing ways to enhance joint investments, and another memorandum of understanding with the Korean company NEXTON to enhance co-operation in the areas of smart agriculture and food security.
A number of Qatari entities and institutions participated in the Qatari-Korean Investment Forum, which was organised on the sidelines of the sixth session of the joint committee.
The forum witnessed an opening speech by the Qatar Chamber, followed by a number of presentations by the Investment Promotion Agency in Qatar, the Qatar Free Zones Authority and the Qatar Science and Technology Park, highlighting the incentives and promising investment opportunities offered by Qatar to foreign investors.
