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LuLu Group’s world-class sourcing, food processing, and export unit in Sri Lanka has been playing a significant role in increasing Sri Lanka’s exports to Qatar, a top official has said.Speaking on the sidelines of the ‘Taste of Sri Lanka’ festival held Saturday, Dr Mohamed Althaf, director of LuLu Group International, emphasised that the South Asian nation has been developing a wide range of organic lines, which LuLu Group brings to Qatar “in large quantities”.The group’s state-of-the-art facility, which is located at the Katanayake Export Processing Zone near Colombo International Airport, focuses on sourcing, processing, storing, packaging and exporting fruits, vegetables and commodities from Sri Lanka to different LuLu operations across the globe.“Sri Lanka has several unique items that are in high demand in the local and international markets, such as organic products and superfoods. Many Sri Lankan products are well-known for their high quality, such as tea and spices, among others,” Dr Althaf stressed.Sri Lankan ambassador Mohamed Mafaz Mohideen emphasised that business between LuLu Group and Sri Lanka has been growing steadily year-on-year not only in a wide range of export products but also in manpower, thus providing more job opportunities for Sri Lankan nationals in Qatar.“Trade between Sri Lanka and Qatar is about $90mn. Our country is known for its wide range of high-quality products that are exported to Qatar, including apparel, vegetables, and fruits with a special focus on bananas and superfoods like moringa leaf and coconut,” the ambassador said.Dr Althaf also said the 2023 edition of ‘Taste of Sri Lanka’ festival, which is organised annually by LuLu Group in co-operation with the Sri Lankan embassy in Qatar, commemorates the country’s 75th Independence Day.“The festival is part of a series of events organised by LuLu Group to celebrate the culinary heritage and culture of different countries. The Sri Lankan community in Qatar is one of the largest expatriate populations, which played an important part in the development of Qatar,” said Dr Althaf.A wide range of Sri Lankan commodities and agricultural produce are offered on display at discounted prices. Special counters were set allowing customers to taste and sample different Sri Lankan food products, he added.

Culinary delights and cultural values, among other highlights, are taking the spotlight during this year’s edition of the ‘Taste of Sri Lanka’ festival, which was inaugurated Saturday at LuLu Hypermarket, Ain Khaled branch.The annual event has been organised by LuLu Group in co-operation with the embassy of Sri Lankan in Qatar to mark the country’s 75th Independence Day. Sri Lankan ambassador Mohamed Mafaz Mohideen led the ribbon-cutting ceremony in the presence of Dr Mohamed Althaf, director of LuLu Group International.Other VIPs and dignitaries present during the opening rites included Naser Mohamed J al-Marri, chairman of Doha International Consulting (DIC); Ishan Final, CEO & GM of DIC; Charith Jayasena, COO, Al Harib Security Systems; Kumudu Fonseka, chairman, Board of Trustees, Stafford Sri Lankan School Doha; and Kashayapa Ukwatte, minister counsellor at the Sri Lankan embassy.LuLu Group is celebrating ‘Taste of Sri Lanka’ to promote the South Asian nation’s unique culinary heritage, diverse culture and values, and colonial influences, which were handed down for generations.The festival, which is being held at all LuLu stores across Qatar until February 10, showcases the best-quality Sri Lankan ethnic products, a wide range of grocery items, and other agricultural and organic produce.The celebrations will also promote traditional Sri Lankan dances performed by students from Stafford Sri Lankan School and Dinu Dance Academy, along with other cultural programmes, thereby creating an ambiance that is reminiscent of the country’s rich culture and tradition.Aside from culture, heritage and cuisine, the festival is also highlighting the longstanding Qatar-Sri Lanka business ties and Sri Lanka’s top export-quality products targeting both Qatari citizens and expatriate communities.On the sidelines of the festival, Mohideen emphasised that the festival is offering a wide range of authentic Sri Lankan products, including organic and superfoods imported by LuLu Group.“I am grateful to LuLu Group for all the support it is extending in promoting Sri Lankan products not only in Qatar but also across the GCC. They are one of our strongest supporters,” Mohideen pointed out.

Government policies and advanced technological infrastructure present investment opportunities worth $75bn in Qatar’s cleantech sector by 2030, according to a report by Investment Promotion Agency Qatar (IPA Qatar).IPA Qatar’s ‘Cleantech Sectoral Study’, which was posted online recently, stated that government initiatives leading to investment avenues include the aim to develop 100% electric vehicles by 2030, the plan to provide and install over 600 charging devices at business warehouses and stations, carbon emissions reduction, and the establishment of the “world’s largest e-bus depot” capacity to accommodate 478 electric buses and equipped with 11,000 solar panel units.In terms of energy initiatives, the report reiterated QatarEnergy’s launching of its new sustainability strategy, which plans to reduce the carbon intensity of its LNG facilities by 35% by 2030. It also mandates the deployment of Carbon Capture and Storage (CCS) facilities to capture more than 7Mtpa of CO2 in the country.The report stated that Qatar was the first GCC country to implement a waste-to-energy programme that currently generates over 30MW of electricity from its Domestic Solid Waste Management Centre (DSWMC) at Mesaeeid.Qatar received international praise for hosting the first carbon-neutral FIFA World Cup last year.But the country is also moving towards solar energy adoption and is also utilising renewable resources, stated the report, citing the installation of an 800 megawatt (MW) additional capacity of renewable energy sources that range from gas-based to photovoltaics (PV) and wind power, as well as major solar projects like Al Kharsaah (Siraj solar power plant), and Qatar Solar Technologies’ (QSTec) aim to develop a $1bn polysilicon production facility.The report noted that Qatar’s cleantech value chain is “incredibly dynamic” and integrated with several players across technology development, manufacturing, distribution and project development, and services.Qatar’s thriving technology sector is critical to the growth of cleantech in the region, according to the report, citing technological infrastructure and extensive R&D, robust support systems, enablers, and skilled talent.The report pointed out that successful national strategies and sustainability are poised to drive cleantech growth in the Mena region. It stated that tech-based agricultural practices in the Mena have revolutionised agri-food sector investments.Exposure to sunlight also plays a significant role in pushing cleantech sector growth. The region receives between 22% and 26% of all solar energy striking the earth, which enhances the potential for a vibrant renewable energy sector, stated the report, citing World Bank estimates. Also, solar installed capacity in Mena is expected to increase by almost 40GW by 2025, it stated.The GCC has the fastest-growing renewable energy sector reaching $25bn in 2022, and by 2030, GCC countries aim to reduce oil consumption by 23%, creating more than 220,000 jobs in the region’s renewable energy sector. Gulf national oil companies can have an early-mover advantage in green hydrogen production and export, potentially bringing in $200bn in revenue by 2050, the report added.

The US-Qatar Business Council (USQBC) is planning to host a delegation of American congressmen, which is expected to arrive in Qatar this February, the council’s top official has said. Scott Taylor, USQBC president, said the planned visit of the US congressional delegation to Qatar is part of the council’s efforts to boost the trade and economic relations between both countries. “There is a delegation in the works and it will be composed of bi-partisan members of congress from different US states. Most of the time, members of congress have specific industries in their respective districts that relate to Qatar, whether it’s energy, sustainability, or defence. “The dates for this event are being firmed up and it may happen this February, probably right around or just right after the strategic dialogue that is currently happening,” Taylor told Gulf Times in an exclusive interview. According to Taylor, members of the congressional delegation from the US are slated to meet with ministers and other high-level government officials in Qatar, as well as with US ambassador to Qatar Timmy Davis and other dignitaries. Also expected to participate in the meeting are US and Qatari companies and other players and stakeholders of both countries’ private sectors, as well as members of the US military and their Qatari counterpart, Taylor pointed out. Taylor, a former congressman and US Navy Seal, underscored the importance of forging networks between private sector companies and congress members, who can impact policy in different industries and business sectors. Asked about USQBC’s plans for 2023, Taylor said: “The USQBC will strive to organise a congressional delegation to Qatar once every quarter. AsUSQBC, we basically decided that I would visit Qatar at least once every quarter.” Taylor added: “My vision as president of the USQBC is to make sure that I am coming here on a regular basis because obviously, relationships are very important in this part of the world and it is important for me to build relationships with my existing members and with the authorities in Doha, as well as with prospective members.” Taylor was appointed USQBC president in June 2022, and he aims to utilise his extensive experience in international business development, government relations, and government diplomacy to support the council’s mission to expand and enhance the bilateral business relationship between Qatar and the US.As a congressman representing Virginia’s 2nd district, Taylor served on the Appropriations Committee. He was a sponsor of the AshantiAlert Act, a nationwide network for missing persons, and the VA SEA Act for accountability at the Department of Veterans Affairs. Prior to his time in Congress, Taylor served as a member of the Virginia House of Delegates.

The value of bilateral trade between Qatar and India crossed the $18bn level, recording a 33% year-on-year growth, according to Indian ambassador Dr Deepak Mittal.Speaking to reporters on the sidelines of ‘India Utsav 2023’ organised recently by LuLu Group, Mittal said: “Bilateral trade between India and Qatar has always grown strength to strength. Last year, we saw that the value of bilateral trade crossed $18bn and I think it is a new landmark since it is a more than 33% growth compared to 2021.“Our effort is how to realise its true potential and how to diversify the trade basket. We are happy that we are among the top five trading missions for Qatar. Our effort continues to find new ways and means to do so.”Mittal also underscored the need for Qatar and India to work on a comprehensive economic partnership in other fields, such as energy, citing Qatar as a “steady and reliable partner” of India’s energy security.“Our effort on both sides is how to deepen these ties and give it a comprehensive relationship because India is diversifying its energy mix. We are increasing our gas target from 6% to 15%, so we can work together in terms of gas-based infrastructure, which needs to be developed in India to increase consumption,” the ambassador pointed out.Aside from energy, Mittal emphasised that India is also looking to work with Qatar in the fields of food and health security, as well as other areas, such as Information Technology, Artificial Intelligence, and education and student exchange.On food security, Mittal lauded LuLu Group for organising India Utsav 2023, which not only showcases and promotes a wide variety of Indian products but also the importance of millets, citing the UN’s declaration of 2023 as the ‘International Year of Millets’.“There is a special effort to present all varieties of millets at every LuLu outlet as 2023 was declared by the UN as ‘International Year of Millets’, explained Mittal, who stressed that millets are seen as a ‘super food’ and is environmentally sustainable.Mittal underscored the need to promote awareness of the importance of millet and its positive impact on people’s health, saying it is a “very good substitute” for rice and other grains.“When we talk of climate change and food scarcity, promoting millet is also the same as encouraging mindfulness on the environment and climate action in our way, and India is participating in a big way in these efforts.“The Indian embassy in Qatar is also doing the same and we are happy that the Indian Business and Professionals Council in Qatar, LuLu Hypermarket and other Indian hypermarkets, and Indian schools, are spreading awareness on millets and its strengths, and I’m sure as awareness on millets grows, the demand and supply of millets will grow, as well,” he stressed.Asked about the Indian embassy’s role in post-World Cup Qatar, Mittal said many Indians who came to Qatar for the first time during the tournament lauded the economic development achieved by the state.“Economic co-operation, trade, and investment partnership between India and Qatar are growing steadily and we have seen that during the FIFA World Cup, which was hosted very well by Qatar.“Around 16% of the fans who came here for the World Cup in Qatar were Indians and many of them came to the country for the first time, and they were very amazed and awestruck with the arrangements of the matches and with the development of Qatar,” Mittal told Gulf Times.He added: “A lot of businesses that came to Qatar during the tournament show a huge potential; that in itself speaks that there will be new trends and opportunities that will happen and grow, and we will see this trend growing upwards this year.”

Millets, also known as ancient grains grown worldwide, have taken centre stage during the celebration of India Utsav 2023 held recently at LuLu Hypermarket, Barwa Madinatna.According to Dr Mohamed Althaf, director of LuLu Group International, millet is becoming "more and more popular" due to its benefits for health, particularly for diabetics. Similarly, the demand for millet in the agriculture sector is also growing because of its sustainability.Dr Althaf pointed out that India Utsav is an annual event. This year, the festivities also highlight ancient grains as a health product following the UN’s declaration of 2023 as the ‘International Year of Millets', he explained.Indian ambassador Dr Deepak Mittal, who inaugurated India Utsav 2023, said: “India is one of the largest producers of millet, which is considered a superfood, and India Utsav 2023 is a good opportunity for visitors to learn about the use millets in day-to-day life.”Regarded as an old grain, millets are small, spherical whole grains that are grown in Nigeria, India, and other Asian and African nations.Mittal said the 10-day India Utsav 2023 is not only focusing on a wide variety of millets and their health benefits, but the festival is also showcasing a wide range of Indian food and spices, authentic dishes, and ethnic clothing.India Utsav 2023, which aligns with India’s Republic Day, will primarily feature and promote top-notch Indian cuisine, as well as the nation’s rich cultural history. The event also strives to highlight India’s prowess in manufacturing and innovation among local and international audiences.The festival offers an exclusive display of these products at all LuLu stores in the region. Moreover, LuLu Hypermarket is also highlighting a huge range of bakery products made of millets, as well as fresh hot foods prepared in-store for the entire promotion – from biryanis to curries, popular street foods, traditional sweets, and many other delicacies.LuLu Group regularly imports more than 4,000 products from India, including popular fast-moving consumer goods (FMCGs), products bearing the LuLu private label, fruits and vegetables, packaged food items, household goods, kitchen essentials, and traditional wear and other garments, which are available throughout the year in all stores across the region.The group also has a strong network of food processing and logistics centres across India for exporting bulk products to countries in the Middle East, North-Eastern Africa, Indonesia and Malaysia.

LuLu Group is organising India Utsav 2023, a 10-day festival being held across all LuLu hypermarkets in Qatar, which is also part of celebrations for India’s 74th Republic Day.Indian ambassador Dr Deepak Mittal led the inauguration ceremony of India Utsav 2023 recently at LuLu’s Barwa Madinatna outlet in the presence of Sri Lankan ambassador Mohamed Mafaz Mohideen and Dr Mohamed Althaf, director of LuLu Group International, as well as other public and private sector dignitaries.India Utsav 2023, which is aligned with the Republic Day of India, will largely highlight and promote top-quality Indian food and the country’s diverse culture and heritage. The festival also aims to promote among the local and expatriate communities India’s excellence in innovation and manufacturing.The ambassador, who was accompanied by his wife Dr Alpna Mittal, underscored in his inaugural speech that India Utsav “is a very unique initiative by LuLu Hypermarket on the eve of India’s 74th Republic Day”.“The festival is offering a wide variety of food products, including organics, which were imported from different parts of India,” said the ambassador, who congratulated LuLu for organising the festival to introduce “fantastic Indian food items and cuisines in an innovative way to the residents”.Dr Althaf reiterated that the festivities related to India Utsav 2023 underscore the celebration of India’s 74th Republic Day, saying colourful cultural programmes will be held on a daily basis throughout the festival for two weeks.“These activities include artistic performances, a film launch and a celebrity cook, among others, to promote LuLu Hypermarket, Barwa Family Housing, Madinatna. Some events will be held in the morning, while cultural activities will be held in the evenings,” Dr Althaf noted.India Utsav has been an annual celebration by LuLu Group for the past two decades. Not only does it commemorate India’s Republic Day, but it is also a celebration of longstanding Qatar-India trade relations.The inaugural ceremony was highlighted by a cultural extravaganza, including traditional Panchari Melam, Punjabi/Kathak/Bollywood Fusion dance performances, a magic show, Dastangoi by renowned artiste Fouzia, and a team from Delhi. To complete the Indian cultural experience, trendy high-street fashion and a curated collection of Sarees and Churidars are also available at the festival.The festival’s inauguration was also highlighted by the presence of dignitaries from Qatari ministries and representatives and officials of Indian associations, Qatar Chamber, banking and retail institutions, and the fast-moving consumer goods sector.

A large delegation of export companies from the Philippines is slated to arrive in Qatar next month for business-to-business (B2B) meetings with their Qatari counterparts, according to the Dubai-based Philippine Trade and Investment Centre (PTIC).The Qatar leg of the B2B meetings will be held on February 15 at the Venus & Earth Hall of Radisson Blu Doha from 10am-2pm as part of the Outbound Business Matching Mission (OBMM) of the Department of Trade and Industry (DTI) in the Philippines.Nearly 20 Philippine export firms representing the food and beverage (F&B) sector and five cosmetic and personal care companies will be participating in the B2B meetings, stated Philippine commercial attache Charmaine Yalong in a media advisory.“The B2B meetings, led by PTIC-Dubai and the DTI’s Export Marketing Bureau (EMB), seek to create greater opportunities for Philippine brands and products to expand their geographical reach in the GCC region, covering the larger and more segmented markets of the region.“This mission is a positive step towards increasing the global mindshare of Philippine brands through expansion and diversification of the country’s exports and their destinations,” the media advisory further stated.Aside from Qatar, other B2B meetings will be held in Manama, Bahrain on February 12 from 10am-2pm at Tree of Life, Wyndham Grand Manama; Kuwait City, Kuwait on February 14 from 9am-1pm at Movenpick Hotel and Resort, Al Bidaa; and Dubai, the UAE on February 17 from 10am-2pm at Amwaj Ballroom 2, Grand Millennium Business Bay.The DTI is responsible for realising the Philippines’ goal of a globally competitive and innovative industry and services sector that contribute to inclusive growth and employment generation.The EMB is mandated to oversee the development, promotion, and monitoring of Philippine exports. It also provides exporters with the enabling environment to make them globally competitive.PTIC-Dubai is the representative office of the DTI in the UAE and is part of the Philippine Foreign Trade Service Corps (FTSC) of the DTI’s Office of the Secretary (OSEC).Covering the UAE, the Middle East, and Africa the PTIC-Dubai contributes to increasing and sustaining Philippine exports to the Middle East and Africa (MEA) region. It is also involved in promoting increased investments into the Philippines among Middle East and African investors and overseas Filipinos.Interested parties may pre-register through https://bit.ly/B2BFoodPhilippines2023 not later than February 10. The list and a brief profile of the Philippine delegates may be accessed through the same link.

The Ministry of Communications and Information Technology (MCIT) and HEC Paris in Qatar signed a Memorandum of Understanding (MoU) Wednesday to enhance co-operation in supporting Qatar’s digital transformation.The MoU was signed by Reem Mohamed al-Mansoori, Assistant Undersecretary of Digital Society Development at MCIT, and Dr Pablo Martin de Holan, dean of HEC Paris in Qatar.In a statement, MCIT noted that the MoU signing comes within the framework of the ministry’s “tireless efforts” to support sustainable development and digital transformation in line with Qatar National Vision 2030.The MoU stipulates that both parties will support strategic and national plans for the development of the digital sector, initiatives, and methodologies that will support the plans of the Qatar Digital Government and the Smart Qatar Programme (Tasmu), which aims to improve the quality of life of all citizens and residents of Qatar.It also includes specific focus areas within the framework of the development of the digital and technological industry and the programmes and initiatives implemented by MCIT led by the Tasmu and the areas of innovation and research through the creation and exchange of knowledge among stakeholders.Al-Mansoori said: “We are pleased to sign this MoU with HEC Paris, one of the world’s leading business schools, which comes within the framework of MCIT’s mechanisms and efforts aimed at developing and enhancing the competitiveness of the digital and technological industry sector in Qatar, in general, by supporting the fields of entrepreneurship, research, and innovation.She added: “MCIT is committed to supporting and inspiring a strong and smart ICT sector as one of the main pillars in the transformation of a knowledge-based economy, and today’s note is an important step on the way to benefiting from HEC Paris’ great experience and clear interest in supporting Qatar’s digital and technology industry agenda.“Co-operation between MCIT and HEC Paris will be seen in various fields related to technological and economic development in Qatar and the development of a culture of innovation and entrepreneurship in all sectors of society.”De Holan said, “HEC Paris in Qatar helps develop the leaders of tomorrow. By training the next generation of leaders in Qatar and the Gulf, we are able to shape the talents that contribute to the development and transformation of the organisations, companies, and the economy of Qatar.He added: “This strategic partnership emphasises HEC Paris’ commitment to supporting national development in line with the Qatar National Vision 2030. We are proud of the partnership with MCIT, which highlights their trust in our leadership development programmes and in our mission of having a positive impact on companies, industries, and nation states.“The world is facing serious challenges and we believe these can be solved with good leaders who are well-prepared to navigate uncertain times and have the tools to do so successfully.”

LuLu Group is planning to upgrade its transport fleet in Qatar with electric vehicles (EVs) as part of its "green strategy" and sustainability efforts, a top official told Gulf Times.“To become net zero, the next focus will be on alternative energy sources to fuel our operations, including solar. We are also looking at electrifying our fleet, as well as our supply chain," Dr Mohamed Althaf, director of LuLu Group International, said in an exclusive interview.“We are already using a very complex algorithm so that we don’t waste our transportation space: for every container that we bring in, we make sure that transport will be optimised,” he explained.Dr Althaf also stressed that LuLu Group will prioritise energy-efficient options when procuring equipment. It is also looking at phasing out old vehicles and focusing on end-of-life product management.“From this year, we have already put a policy that for anything we buy in 2023, we will look for the electric options first. And then, moving forward, we will phase out whatever old legacy vehicle system that we have.“Also, we want to start reaching out to our own suppliers and stakeholders and ask them where we can work together, either by helping them make their supply chain carbon-neutral or energy efficient. We are exploring ways to do that. We are planning to install EV charging stations in our new outlets and later on in our old stores,” Dr Althaf explained.He further explained that LuLu Group will continue innovating its existing stores to ensure that even old branches will maintain energy efficiency during operations, citing the 18-year-old Al Khor branch.“I always have the empirical data, which shows what we can do. Another strategy is end-of-life product management. Because some of our stores are very old, we want to make sure that our chillers and freezers don’t have any negative impact. How do we extend the life cycle and how do we make them more energy efficient are among the other projects in the pipeline,” Dr Althaf emphasised.He added: “What is significant about our Al Messila branch is that we retrofitted a seven-year-old building. Similarly, Al Meshaf store was a regular-looking building, which was operational for the last five years.“Whereas for all the new stores that we have announced, we have already incorporated sustainability principles in the design stage. And more importantly, we are utilising IoT to achieve energy efficiency, thus making these stores cutting-edge.”

The successful hosting of the FIFA World Cup Qatar 2022 and optimistic expectations of the country’s economic growth in 2023 reflect the state of Qatar’s political and economic stability, which makes it “a fertile soil for investment and growth,” according to a finance and business administration expert.Ahmad al-Mansoori, board deputy chairman of the Qatar Association of Certified Public Accountants (QCPA), made the statement during the ‘International Credit Rating Agencies Conference’ held in Doha Monday.The event was held through the auspices of HE the Minister of Social Development and Family Maryam bint Ali bin Nasser al-Misnad and in partnership with Moody’s, the Global Compliance Institute, and S&P Global.In his speech, al-Mansoori described 2022 as “an exceptional year,” saying the Qatari economy showed “record performance,” especially during the staging of the FIFA World Cup.Citing the latest World Bank report, al-Mansoori said Qatar’s economy would achieve growth of about “3.4%” this year. He said the World Bank also estimates that the Qatari economy would have achieved a “4%” growth in 2022 compared to initial estimates of “3.2%.”Al-Mansoori also said: “After the World Cup curtain fell, the 2023 budget was issued to confirm the strength and durability of the Qatari economy and its ability to withstand the fluctuations and uncertainty in the global economy, and to prove that the State of Qatar, under its wise leadership, continues to move forward with confidence in building its strong economy and completing its development path.”Similarly, al-Mansoori noted that international rating agencies also confirmed the strength of Qatar’s economy, which shows that the country is maintaining strong creditworthiness.Al-Mansoori also lauded the resiliency of all companies and financial institutions listed on the Qatar Stock Exchange, as well as the goal to achieve a financial surplus of “not less than QR29bn” this year.“Perhaps the most prominent strengths on which these ratings are based on are the high per capita income, huge hydrocarbon reserves, the growth of global demand for oil and gas, the high value of net assets, the private sector’s contribution to economic activities, and the efficiency of monetary and fiscal policies. This confirms the strength, flexibility, and ability of the local economy to face economic challenges and fluctuations,” he said.Al-Mansoori added that Qatar’s financial stability has helped draw foreign investments and that public-private partnerships helped raise the country’s level of economic performance and attractiveness to international financial institutions.For his part, Sheikh Saif al-Thani, CEO of Qatar Central Securities Depository, said the country had to honour to host the FIFA World Cup under the wise leadership and achieved “a distinguished renaissance,” particularly in the social and economic sectors.He also lauded the role of Qatar Central Bank in leading the development of the country’s financial markets in partnership with various agencies, especially the Central Depository, which worked on creating the devices and tools used in the market to reach the necessary levels to achieve planned goals.“The first thing that was worked on was the movable collateral registry, which aims to help small and medium companies to benefit from the tools, equipment, and goods they have to gain access to funding to develop their business. Work is underway to apply lending and borrowing, which will assist and give investors in Doha additional options and tools.“Preparations are being made for central clearing that will increase the volume of transparency in the market while reducing risks, and giving investors the ability to raise the classification of the market as a whole. Qatar Central Securities Depository is keen to develop the applicable plan and strengthen it further during the next stage,” Sheikh Saif added.

Qatar and South Korea recorded a 45.3% year-on-year (y-o-y) growth in bilateral trade volume to reach $15.4bn from January-November 2022.South Korea’s cumulative exports to Qatar also grew 21.5% in the same period in 2022 to $450mn. Similarly, imports from Qatar rose 46.2% to $14.9bn, according to South Koran ambassador Lee Joon-ho, who said as of November 2022, Qatar is the 18th largest trading partner to South Korea.In a statement to Gulf Times, Lee pointed out that the increase in the value of both countries’ trade volume is “attributable mainly to the rise in oil prices affected by the conflict in Ukraine.”Asked to give an overview of Qatar-South Korea bilateral economic relations in 2023, Lee said South Korea and Qatar have developed a “close and friendly relationship” since both countries concluded diplomatic ties in 1974.The ambassador noted that Qatar is the largest supplier of liquefied natural gas (LNG) to South Korea and that South Korea is the second largest trading partner to Qatar.“Building on the longstanding co-operation in the fields of LNG, our two countries are working closely together to diversify fields of our cooperation into new areas, such as healthcare, agriculture, and ICT,” he said.In this regard, Lee said Qatar and South Korea had “fruitful” high-level exchanges last year. In March, South Korean Prime Minister Kim Boo-kyum visited Qatar to promote partnerships in the fields of energy, investment, agriculture, and healthcare, he said.Lee also said HE the Deputy Prime Minister and Minister of Foreign Affairs Sheikh Mohamed bin Abdulrahman al-Thani visited South Korea in August 2022 to further strengthen bilateral relations, especially in the energy, technology, and food security sectors.“In addition, bilateral economic collaboration linked to Qatar’s North Field Expansion plan and the construction of LNG carriers is on track. In particular, South Korean companies won the contract for the construction of 53 LNG carriers and the Engineering, Procurement and Construction (EPC) contract for QatarEnergy Renewable Solutions’ 875MW Industrial Cities (IC) solar power plant in 2022.“I believe that our mutually beneficial partnership will continue and step forward to the greater economic collaboration between our two countries in the coming years,” Lee emphasised.

South Korea has slated several initiatives this year to expand and enhance its trade and economic relations with Qatar in various sectors, including semi-conductors, e-mobility, and green energy, among others, the nation’s top diplomat in Doha told Gulf Times.Ambassador Lee Joon-ho said he believes South Korea and Qatar have the potential to deepen further and expand bilateral co-operation in various areas, including trade and investment based on the mutually complementary industrial and trade structure of both countries.“In particular, as Qatar National Vision 2030 aims at transforming Qatar into a more diversified economy, we will seek to expand the scope of co-operation to include semiconductors, electric vehicles, and renewable energy sources, such as hydrogen.“And South Korean companies, based on their excellent technologies and extensive experience, will continue to participate in various projects related to QNV 2030, including Qatar’s North Field Expansion plan and other infrastructure projects, contributing to further strengthening bilateral economic co-operation,” Lee explained in a statement.He said: “Furthermore, we will explore ways to enhance investment between our two countries for mutual benefits on the occasion of high-level exchanges, including the Korea-Qatar High-Level Strategic Co-operation Committee Meeting, as well as the Korea-Qatar Business Forum. By doing so, I believe we can further consolidate bilateral economic relations between Korea and Qatar.”In 2022, the South Korean embassy in Doha, in co-operation with different Qatari government ministries and private sector players like Korea Trade-Investment Promotion Agency (Kotra), Qatar Chamber, and Investment Promotion Agency Qatar (IPA Qatar), as well as South Korean companies, among others, held different initiatives and events aimed at enhancing bilateral trade and economic relations.These initiatives focused on areas, such as agriculture, smart farming, blue and green hydrogen production, health and Information and Communications Technology (ICT), and finance, among others.Speaking at the 2022 South Korea-Qatar Business Forum held in Doha, Lee underscored the need for both countries to expand co-operation ties “in new horizons” and forge close partnerships in various fields.Citing co-operation in digital technology, Lee said the South Korean government’s ‘Digital Strategy’ is seen to cement its leadership in digital infrastructure, which may open new co-operation projects in the digital field.He stressed that both countries could enhance co-operation in sectors like smart farming and healthcare, noting that many South Korean companies are well-equipped with state-of-the-art technologies and are “capable and effective partners” for Qatar’s future development in the smart farming sector.As one of the major pillars of the state’s 2030 national vision, Lee also lauded Qatar’s investments in its public health system. He said the Korea Medical Centre, which is planned to be open this year, may lead to further collaboration on joint medical projects.The ambassador also emphasised the need for Qatar and South Korea to advance co-operation in energy sectors, such as liquefied natural gas and solar power. According to Lee, South Korean companies are joining Qatar’s mega LNG projects like the NFE EPC2, as well as LNG shipbuilding projects.Lee added that South Korea is joining Qatar’s efforts to fight climate change and invest in renewable energy.

The staging of the FIFA World Cup Qatar 2022 has helped place the Middle East in a positive perspective, according to renowned Indian writer Amitav Ghosh, who spoke Wednesday at the ‘Earth Talks Series’ at the Bin Jelmood House in Msheireb Museums.The ‘Earth Talk Series’, an annual event organised by the Arab Youth Climate Movement Qatar (AYCMQA), featured Ghosh, who discussed the ‘Climate of War: Global Geopolitics in the Anthropocene’.Speaking to Gulf Times on the sidelines of the event, Ghosh lauded Qatar for doing “a great job” in hosting the World Cup and for delivering “an incredible event with perhaps the greatest soccer match ever played.”Ghosh said: “It really showed that when such events are held in these parts of the world, it creates a completely different atmosphere; it creates new possibilities.”He added: “In the same way, if the Qatari leadership were to approach these other issues with the idea of bringing a different point of view and opening up these global negotiations to voices from the global south, I think that would be an important thing that Qatar could do.”Hessa al-Noaimi, director of strategic partnerships at AYCMQA, said: “The event aims to bring forward thinkers, scientists, writers, and artists mainly from the global south to talk about the environmental and climate crises from their perspective.“We see the need for this because we can tell that most of the information that we receive surrounding these topics comes from the north. And it is also offering a platform for conversations that are not usually discussed in this region as much as we should.”She added: “As AYCMQA, we believe that the programmes we run and the kind of awareness that we raise will bring about some significant change because we believe in research, data, and the necessity of understanding the problem before answering it. We also address the potential young people have in becoming faster and better learners on how to mitigate the climate crisis.”Dr Mohamed Althaf, director of LuLu Group International, said LuLu sponsored the event as part of its efforts to encourage and promote discussions on environmental protection, sustainable development, and climate change.He said, “LuLu is always trying to be ahead of the game, and our commitment to sustainability is very strong. Only recently, we have announced that LuLu's Al Meshaf store has become the first carbon-neutral hypermarket in the GCC.Althaf added: “Notwithstanding our commitment to address the cause of climate change, we also think that it is very critical to our industry because these environmental crises are directly affecting the food supply chain and other resources.“So, this is part of our community engagement and we will continue to expand this relationship with more non-governmental organisations, schools, and wherever engagement is possible.”

Furniture has topped the list of Turkiye’s export products to Qatar in 2022, according to data from the Turkish Exporters’ Assembly (TIM).Aside from furniture, which was valued at $177.2mn in 2022, Turkiye’s top 10 exports to Qatar last year include electrical products ($123.6mn), fisheries and meat ($123.5mn), chemicals ($119.6mn), iron and other metals ($94.1mn), apparel ($84.9mn), pulses and grain ($70.2mn), steel ($55.4mn), machinery ($48.7mn), and HVAC ($41.1mn).This year, Deniz Kutlu, managing partner of Turkish firm Shedu Consulting, is anticipating that there would be other industries aside from furniture that would witness growth in terms of Turkiye-Qatar trade ties.“Together with the services industry, I believe furniture, along with construction materials, defence, and the consumer goods industries will grow faster than other industries,” Kutlu told Gulf Times in a statement.He said: “Furniture has led Turkiye’s exports to Qatar. Since 2015, Shedu Consulting has organised several furniture B2B events in Qatar, and I believe that even after World Cup, furniture will still be one of the top exports of Turkiye in the Qatari market.”Asked how the 2022 FIFA World Cup played a role in the increase in Turkish exports to Qatar, Kutlu noted that the tournament had a positive impact not only on Turkish exports but on all other countries, as well.“But I think Qatar itself has been the country that had enjoyed most of the benefits from organising a global scale event. Before the World Cup, the Qatari government made huge investments in both infrastructure and superstructure. The World Cup is over but Qatar’s investments will last for decades.“The tournament itself was very well-organised and it contributed a lot to Qatar’s reputation across the world. This may have a positive impact on the eyes of potential foreign investors and may help the Qatari government to attract FDI in the near future, which in turn may positively impact Turkiye and Qatar’s bilateral trade,” Kutlu explained.Kutlu stated that Shedu Consulting has two trade delegations to Qatar in the pipeline. He said the first delegation representing the natural stone industry is slated to explore Qatar’s investment climate in the first half of the year, while another delegation from the furniture sector will be in the country by H2 2023.“We usually focus on consumer and industrial goods. However, we would definitely consider organising trade delegations from the sports and tourism industries, as well. Qatar, which made history by hosting the FIFA World Cup, is home to one of the top global sports channels, beIN Sports, and I am quite sure these sectors will help attract more delegation visits to Qatar,” Kutlu added.

Turkish exports to Qatar witnessed a 30% year-on-year growth to reach $1.4bn in 2022, according to an official of an Istanbul-based consultancy firm.The value of Turkish exports to Qatar breached the $1.2bn level last year, Deniz Kutlu, managing partner of Shedu Consulting, told Gulf Times in a statement.“This increase made Qatar one of the fastest-growing export markets of Türkiye in 2022, together with the Russian Federation, Romania, Georgia, and Lebanon. I think, the main reason for this substantial increase in Turkish exports to Qatar was that 2022 has been a recovery year for many industries,” Kutlu explained.Kutlu further explained that this “drastic recovery” in 2022 stemmed from the continuation of different projects that many companies in both Qatar and Türkiye had to postpone during the pandemic.Citing trade data from the Turkish Exporters’ Assembly (TIM), the value of Turkish exports increased in the following industries: furniture (79%), apparel (55%), food and beverage (F&B) (over 50%), automotive (35%), and metals and hardware (34%).“In 2022, our exports increased by 12.9% and exceeded $254bn, which is an all-record level for Türkiye. Hence, we can safely state that Türkiye has recovered from the negative impact of Covid-19 and has not been severely affected by the war in Ukraine.“However, Türkiye’s ultimate goal is to reach the threshold of $500bn in the medium term. Accordingly, Türkiye would like to further increase its exports to global partners, including Qatar, to $500bn. $2bn is an ambitious but achievable goal in the short term,” Kutlu emphasised.With the gradual opening of international markets, Kutlu said he is optimistic to witness further growth in Turkish-Qatari trade and economic relations.“The source of Türkiye’s comparative advantage over China and other Far East countries is not low production costs. Rather, what makes Türkiye a popular source of imports for Qatar and other neighbouring countries is its capability for flexible manufacturing, which allows Türkiye to offer customised products in relatively low quantities compared to China’s mass production of undifferentiated products at low manufacturing cost,” Kutlu pointed out.He added: “Türkiye’s second advantage in the Gulf region market is the relatively short delivery time compared to China. Türkiye’s customised production capability and its geographical proximity to the Gulf region make it possible to offer relatively short delivery times compared to China. Hence, recovery in China and other major economies in Asia will not negatively affect Türkiye’s bilateral trade with Qatar and I expect to witness further increase soon.”

LuLu Group is planning to install charging infrastructure for electric vehicles (EVs) in its store parking lots to help decarbonise mobility and to encourage the use of more EVs. The plan came in the wake of LuLu’s announcement that its Al Meshaf store has become the first carbon-neutral hypermarket in the GCC region.As part of its sustainability stewardship, LuLu’s project and operations team is already studying and identifying the areas for reduction opportunities in energy, water, and waste. The group’s ongoing efforts to reduce energy, water, and waste, and to promote healthy eating have achieved sustainable operations certification for various outlets in Qatar.LuLu Hypermarket in Qatar is one of the first retailers in Mena to achieve sustainable operations certification under the Global Sustainability Assessment System (GSAS) from the Gulf Organisation for Research & Development (GORD). LuLu Group Qatar also won the Tarsheed Award for Sustainability and Energy Efficiency at the 10th anniversary of the National Programme for Conservation and Energy Efficiency (Tarsheed) in the category ‘Tarsheed Conserving Building Competition’ for being the only private sector business in Qatar to achieve the targeted reduction of electricity and water consumption.LuLu also installed a Building Management System to efficiently manage assets associated with building ventilation and lighting, as well as Cloud Energy Optimisation System-Honeywell Forge to efficiently manage and optimise the energy used during the operations.The use of LED is being encouraged for upcoming projects while existing projects are gradually shifting to LED from conventional lights, and light control systems assisted with motion sensors are being considered to optimise the use of energy, especially in warehouse operations. LuLu stated that it will procure new energy-efficient chillers to optimise the use of energy and increase cooling efficiency. To manage water consumption and energy, submetres are being implemented in tenant spaces, while new projects are being encouraged to use a double flush system to reduce water usage.Its outlets across Qatar are being encouraged to segregate their waste for easy disposal and collection. Three-compartment bins are implemented in all general areas to encourage customers in waste segregation. Food waste digesters are being used to efficiently manage food waste generated in operations. An innovative food waste solution, ‘ORCA’, which recycles food waste by breaking it down into water (mainly), and some carbs, fats, and proteins, which are then captured or repurposed, is currently being trailed at LuLu’s Bin Mahmoud store.LuLu procured and distributed reverse vending machines in multiple outlets to encourage and educate customers on the segregation and recycling of plastic bottles and cans. Reusable bags were introduced and promoted in all the outlets to encourage customers to reuse their shopping bags, thereby reducing fresh plastic in the system.Recycling of paper waste and oil waste are being implemented and encouraged throughout with the help of recycling partners that efficiently divert these materials from landfill and recycle them back into the system. LuLu introduced refilling stations, Kraft paper bags, and biodegradable packaging made from sugarcane pulp used for packing in-house kitchen products to reduce the amount of plastic in packaging.To maintain efficiency and eliminate waste in its operations, LuLu is implementing controlled production, controlled ordering of raw materials, increased consumption of locally sourced ingredients, promoting sustainable suppliers and products, and introducing plant-based food options.

LuLu’s Al Meshaf store has become the first carbon-neutral hypermarket in the GCC, thus expanding the sustainability stewardship of LuLu Group, which recently received the carbon-neutral certification.The store’s carbon neutrality was achieved in accordance with the UK’s PAS 2060 standard by following a detailed process, including a carbon management plan, reduction of carbon emissions, and offsetting of remaining emissions.LuLu Hypermarket, the retail division of LuLu Group International has been consistently setting trends in the GCC region’s retail industry. LuLu’s operations cover business divisions in the retail segment for the popular hypermarket brand, shopping mall destinations, food processing plants, wholesale distribution, hospitality properties, and real estate development.Dr Mohamed Althaf, director of Lulu Group International, said: “We are delighted to achieve the carbon neutrality status for LuLu’s Al Meshaf branch. We operate as an environmentally-conscious, one-stop shop for daily essentials and unique product offerings for a multi-ethnic client profile living in and around the area.”“This remarkable achievement is the result of the unwavering commitment of Lulu Group to circularity in our business and has been the result of various path-breaking initiatives undertaken by our store”, noted Althaf, who, along with a dedicated technical team, has been instrumental in driving LuLu Qatar’s sustainability agenda.Clean Globe Consultancy has supported the LuLu Group to achieve this accolade. LuLu currently operates 22 outlets in Qatar and is committed to being more sustainable and climate-friendly across its value chain.As a recipient of the Sustainability Award 2019 at the Qatar Sustainability Summit and as a leading retailer exercising sustainable best practices, LuLu is committed to sustainability by taking real and demonstrable measures to protect the environment and contribute to reducing carbon emissions and food waste. LuLu has always highlighted its efforts to promote environment-friendly practices in its operations and stores in Qatar, and in the community at large.LuLu Group has framed its own strategy on sustainability, which is put into practice in all its retail units and supply chains worldwide. LuLu is deeply committed to reducing its impact on the environment and taking real lasting steps to ensure this, aligned with Qatar National Vision 2030.