Doha has retained its place as Australia’s second largest trading partner in the Middle East and North Africa (Mena) region with the Australia-Qatar bilateral trade reaching more than QR5bn, according to Australian Bureau of Statistics.
In its latest report, the bureau said Australia’s annual two-way goods and services trade with Qatar has remained "strong, amid the global pandemic, at QR5.2bn. The overall balance of trade registered a QR510mn surplus in Qatar’s favour.
"Qatar’s services exports to Australia increased by 5.5% to QR2.03bn with Australia remaining Qatar’s twelfth largest source of merchandise imports.
“These numbers are a sign of the strong economic partnership between Qatar and Australia. Despite the massive economic impact of the pandemic globally, the strong complementarity between our economies has kept the relationship delivering for both countries,” said Australian Ambassador Jonathan Muir.
Last year, Australia also welcomed Qatar’s Nebras Power taking a major stake in Australia’s energy sector, which is now the world’s third largest destination for investment in renewables.
Nebras Power Investment Management, a wholly owned affiliate of Nebras Power, has in January 2020 completed a transaction with Goldwind Stockyard Hill Wind Farm, a wholly-owned Hong Kong affiliate of Xinjiang Goldwind Science and Technology Co, by acquiring a 49% equity stake in Stockyard Hill Wind Farm in Australia.
He said Australia was a major contributor to Qatar’s food security during this difficult time, supplying a large share the country’s fresh meat and produce.
“Qatar’s strength in aviation services has played an important role in keeping Australian exporters connected with global markets," he added.