HE the Minister of Commerce and Industry Ali bin Ahmed al-Kuwari has highlighted the deep relations between Qatar and Argentina, which began in the 1970s and are characterised by a regular exchange of official visits.
“These visits reflect a keenness to strengthen cooperation across numerous fields, particularly on the trade and investment levels,” the minister said in his opening speech at the Qatari-Argentinean roundtable conference organised by the Ministry of Commerce and Industry (MoCI) in co-operation with the Ministry of Foreign Affairs.
Jorge Marcelo Faurie, Argentina’s minister of foreign affairs and worship, attended the roundtable discussions.
HE al-Kuwari emphasised the importance of the roundtable, noting that discussions built on the outcomes of previous meetings in Doha and Buenos Aires, the MoCI said in a statement.
He said Qatar seeks to further bolster bilateral trade, which has grown to QR1.2bn in the last 10 months of this year - a 62% increase compared to 2016, the statement noted. He also voiced hope regarding the promotion of joint investments across an array of sectors, in line with existing, mutually beneficial Qatari-Argentinean collaboration. These include a 2016 agreement on the promotion and protection of mutual investment and a 2018 agreement on the avoidance of double taxation, an agreement on economic and trade co-operation, as well as several memoranda of understanding in the fields of sports, tourism, scientific research and culture, he noted.
The minister urged the exploration of new areas of cooperation to promote bilateral trade and investments, while highlighting the important outcomes of the Qatar-Argentina Joint Commission for Trade and Economic Co-operation in December 2017.
He said the roundtable conference comes at a time of considerable geopolitical uncertainty, noting that Qatar has managed to overcome challenges and is well-positioned to present Argentinean investors and businessmen with promising opportunities across various industries.
Thanks to its strategic location between east and west, Qatar offers Argentinian investors the opportunity to engage in regional trade and contribute to ambitious Qatari infrastructure projects in preparation for the 2022 FIFA World Cup, he explained.
He added that Argentinean investors looking to operate in Qatar will benefit from numerous incentives within the framework of the country’s business-friendly environment.
Further, the minister highlighted Qatar’s advanced ranking in the latest World Economic Forum’s Global Competitiveness Report 2018.
He emphasised the key amendments that Qatar introduced to a number of existing business legislations, as well as initiatives to streamline the issuance of commercial and industrial licences and speed up the renewal of existing ones.
These new regulations will further solidify Qatar’s position as a regional trade, he stressed.
HE al-Kuwari concluded his remarks by emphasising the promising prospects for Qatari-Argentinean private sector co-operation, noting that Qatar’s business-friendly investment environment will serve as an advanced platform for Argentinian businesses looking to invest in the region.
The meeting brought together Mohamed bin Ahmed Towar al-Kuwari, Qatar Chamber’s first vice-chairman, along with representatives of the Qatari Businessmen Association and a number of senior officials. Carlos Hernandez, Argentina’s ambassador to Qatar, along with CEOs of leading Argentinian companies also attended the conference.
HE al-Kuwari and Faurie also held a meeting to discuss the promotion of bilateral ties and partnerships. HE al-Kuwari emphasised the importance of activating bilateral agreements, particularly the agreements on the promotion and protection of mutual investment and the avoidance of double taxation, which will contribute to promoting trade and encouraging businessmen from both sides to establish joint investment projects that serve the economic interests of both countries.
For his part, Argentina’s minister of foreign affairs and worship praised the progress in terms of the development of bilateral trade and investment relations, and commended efforts by both governments to strengthen bilateral co-operation mechanisms. Faurie also called on Qatari investors and businessmen to tap investment opportunities in Argentina across various sectors, including food and agricultural production and smart systems.
The Argentine delegation delivered a presentation on their country’s economic incentives. The presentation touched on major economic reforms and initiatives adopted by the government, Argentina’s national production strategy, the growth of its GDP and investment sector, the advantages of agricultural production, the government’s new financial programme, the growth of foreign trade and Argentinian exports.