Czech Republic offers ‘promising opportunities’ to Qatari businessmen

The Czech Republic has offered “promising investment opportunities” to attract Qatari businessmen, requiring further co-operation between both the countries’ private sector, a senior Qatar Chamber has said.According to Qatar Chamber vice-chairman Mohamed bin Towar al-Kuwari, trade relations between Qatar and the Czech Republic has been growing “rapidly in the past few years,” adding that the Central European country is keen to review its ties with Qatar.Last year, trade volume between the two countries stood at $187mn compared to $102mn recorded in 2013, said al-Kuwari during a meeting with Czech chamber of commerce Ilja Mazanek, the Foreign Section chairman at the Czech Chamber of Commerce.Mazanek led a trade mission to Qatar and was joined by Junior Deputy Minister of Foreign Affairs of the Czech Republic for Section of non-European countries, Economic and Development Ivan Jancarek and non-resident ambassador of the Czech Republic Martin Dvorak during the meeting held at Qatar Chamber.He said the delegation comprises representatives from global companies in the sectors of energy, mining, health, pharmaceuticals, and medical equipment, who are keen on exploring investment opportunities in the Qatari market.Al-Kuwari pointed out that the growth in trade volume encourages businessmen from both the countries to look for profitable investment opportunities and establish trade alliances and joint ventures.Similarly, Jancarek noted that “the good relations that tie Qatar and Czech Republic serve as a starting point to enhancing trade between the private sectors of both countries.“Czech businessmen are interested in establishing investments in Qatar,” he noted, adding that economic situation in Europe and GCC “is witnessing numerous challenges,” even as he assured that “this requires intensifying efforts to promote economic and trade co-operation between Qatar and Czech Republic.”With continuous dialogue between Qatar and Czech Republic’s business communities, Jancarek said he expects relations of both nations to witness “more economic alliances and partnerships.”Underlining Qatar’s economy strength, al-Kuwari said despite the unfair siege imposed on Qatar, the country managed to achieve positive growth rates last year. Qatar overcame “all negative impacts” while GDP grew by 2% in 2017. The World Bank had given a 2.8% growth forecast in 2018, according to al-Kuwari.“The siege prompted the private sector to intensify internal investments and establish new productive enterprises at all sectors particularly in food security and building materials,” said al-Kuwari.He added: “There are ample investment opportunities in which both the countries’ businessmen can co-operate. Czech companies are welcome to participate in the 2022 FIFA World Cup projects.“Qatar proceeds ahead with its strategic plans, particularly in economic diversification to achieve its National Vision 2030. Outwards investments are one pillar of the economic diversity plans.”