The Qatari Businessmen Association (QBA) held a virtual meeting with the Algerian Chamber of Commerce and Industry to launch the joint Qatari-Algerian Business Council.
The meeting was attended by HE the Minister of Commerce and Industry Ali bin Ahmed al-Kuwari and Algeria’s Minister of Commerce Kamal Raziq, as well as Algeria’s ambassador to Qatar Dr Mustafa Boutoura and his Qatari counterpart, ambassador Hassan bin Ibrahim al-Maliki.
The meeting was part of the QBA’s efforts to communicate with similar economic institutions around the world to discuss opportunities for economic co-operation during the current global crisis and to consolidate ties to identify and benefit from global experiences and discuss proposed solutions to support private sector companies and institutions.
Other participants in the meeting included QBA board members Sheikh Nawaf bin Nasser al-Thani and Saud bin Omar al-Mana, as well as QBA members Nasser Sulaiman al-Haidar, Nabil Abu Issa, Sheikh Faisal bin Fahad al-Thani, Abdullah al-Kubaisi, Ramez al-Khayyat, Maqbool Habib Khalfan, Ihsan al-Khayimi.
The representative of Qatar Chamber, Saeed Ibrahim Bougharbia, who is acting CEO of Qatar General Insurance and Renaissance Company, and QBA deputy general manager Sarah Abdullah also participated in the virtual event.
During the meeting, al-Kuwari highlighted the strong ties of both countries, citing the “historic visit” of His Highness the Amir Sheikh Tamim bin Hamad al-Thani to Algeria in February 2020, which contributed to the consolidation of co-operation between the two countries at all levels, especially in the economy and investments.
The minister stated that the volume of trade exchange between Qatar and Algeria in 2020 stood at $36.13mn. Al-Kuwari said investment co-operation witnessed “great progress” following the establishment of the Algerian-Qatari Steel Company in Algeria.
He noted that this was considered one of the most important joint projects in the region with its investment value exceeded $2bn. Qatar is one of the largest investors in Algeria with a rate of 74.31% on foreign investment, al-Kuwari said.
In a speech, Raziq lauded the positive steps taken by Algeria to establish a policy of sustainable development, attract foreign investment, and develop entrepreneurship through the amendment and introduction of a set of laws and legislation that would support and organise national economic activities, which was developed in accordance with international standards.
He said, “The State of Qatar is the 11th partner of Algeria at the Arab level, as the volume of trade exchange between the two countries during the last five years amounted to $344.8mn, while the share of Algerian exports stood at $25.75mn; Algerian imports during the same period amounted to $319.05mn.
Boutoura said the meeting and launch of the business council “represents a great step for strengthening the bilateral relations between the two countries by offering co-operation and partnership opportunities.”
Al-Maliki underscored the need to create a platform for exchanging views and discussing investment opportunities in the two countries in order to support each other in overcoming the impact of the global crisis.
In his speech, Sheikh Faisal said the launch of the business council is “an important step” in strengthening Qatari-Algerian relations, achieving more economic and commercial co-operation, and enhancing mutual investments between the two countries.
Sheikh Faisal said, “Today, we are facing a global crisis that requires serious co-operation between private sector institutions and businessmen around the world to support our countries’ efforts to overcome its consequences. In Qatar, we value our economic partners around the world, and we view Algeria as a market full of investment opportunities in different sectors.”
He added: “We are also witnessing a great economic openness supported by the attractive investment incentives provided by the state to foreign investors, such as the new investment law that allows 100% ownership in most economic sectors, in addition to logistical elements, such as the single window, free zones, Hamad International Airport, and Hamad Port.
“Therefore, we invite Algerian investors to take advantage of the promising investment opportunities provided by the Qatari economy, and to work side by side to achieve common economic interests.”
Mola emphasised that “in the union is strength,” and expressed Algeria’s interest in strengthening co-operation with Qatar in all areas, especially that the two countries have distinguished relations and share plans, such as economic diversification.
He said Algerian companies are “strong, competitive, and have many capabilities that enable them to access large markets.” Mola also talked about Algeria’s efforts to develop its investment climate, attract foreign investors, and focus on opportunities for bilateral cooperation, such as industry, tourism, agriculture, and industrial food.
Participating Algerian and Qatari companies introduced the sectors they represent, such as food, agriculture, tourism and transportation, contracting, import and export, cosmetics, hospitality, retail, and banking and financial services.
They also discussed the possibility of exchanging information on projects and possible investment opportunities. The Algerian National Agency for Investment Development provided a brief presentation on investment opportunities in agriculture, pharmaceutical industries, tourism, renewable energy, and communications technology.
Chaibab Tayeb, vice president of the Algerian chamber, underscored the need to establish air and navigation lines to increase trade movement. He stressed that launching the joint business council “is an affirmation of strong ties and solidarity to overcome the crisis together.”
The meeting was attended by HE the Minister of Commerce and Industry Ali bin Ahmed al-Kuwari and Algeria’s Minister of Commerce Kamal Raziq, as well as Algeria’s ambassador to Qatar Dr Mustafa Boutoura and his Qatari counterpart, ambassador Hassan bin Ibrahim al-Maliki.
QBA chairman HE the Sheikh Faisal bin Qassim al-Thani participating in the virtual meeting
The business council is chaired by QBA chairman HE Sheikh Faisal bin Qassim al-Thani representing the Qatari side, and from the Algerian side, Kamal Mola, head of the business council.The meeting was part of the QBA’s efforts to communicate with similar economic institutions around the world to discuss opportunities for economic co-operation during the current global crisis and to consolidate ties to identify and benefit from global experiences and discuss proposed solutions to support private sector companies and institutions.
A screenshot of the participants of the meeting
Other participants in the meeting included QBA board members Sheikh Nawaf bin Nasser al-Thani and Saud bin Omar al-Mana, as well as QBA members Nasser Sulaiman al-Haidar, Nabil Abu Issa, Sheikh Faisal bin Fahad al-Thani, Abdullah al-Kubaisi, Ramez al-Khayyat, Maqbool Habib Khalfan, Ihsan al-Khayimi.
The representative of Qatar Chamber, Saeed Ibrahim Bougharbia, who is acting CEO of Qatar General Insurance and Renaissance Company, and QBA deputy general manager Sarah Abdullah also participated in the virtual event.
During the meeting, al-Kuwari highlighted the strong ties of both countries, citing the “historic visit” of His Highness the Amir Sheikh Tamim bin Hamad al-Thani to Algeria in February 2020, which contributed to the consolidation of co-operation between the two countries at all levels, especially in the economy and investments.
The minister stated that the volume of trade exchange between Qatar and Algeria in 2020 stood at $36.13mn. Al-Kuwari said investment co-operation witnessed “great progress” following the establishment of the Algerian-Qatari Steel Company in Algeria.
He noted that this was considered one of the most important joint projects in the region with its investment value exceeded $2bn. Qatar is one of the largest investors in Algeria with a rate of 74.31% on foreign investment, al-Kuwari said.
In a speech, Raziq lauded the positive steps taken by Algeria to establish a policy of sustainable development, attract foreign investment, and develop entrepreneurship through the amendment and introduction of a set of laws and legislation that would support and organise national economic activities, which was developed in accordance with international standards.
He said, “The State of Qatar is the 11th partner of Algeria at the Arab level, as the volume of trade exchange between the two countries during the last five years amounted to $344.8mn, while the share of Algerian exports stood at $25.75mn; Algerian imports during the same period amounted to $319.05mn.
Boutoura said the meeting and launch of the business council “represents a great step for strengthening the bilateral relations between the two countries by offering co-operation and partnership opportunities.”
Al-Maliki underscored the need to create a platform for exchanging views and discussing investment opportunities in the two countries in order to support each other in overcoming the impact of the global crisis.
In his speech, Sheikh Faisal said the launch of the business council is “an important step” in strengthening Qatari-Algerian relations, achieving more economic and commercial co-operation, and enhancing mutual investments between the two countries.
Sheikh Faisal said, “Today, we are facing a global crisis that requires serious co-operation between private sector institutions and businessmen around the world to support our countries’ efforts to overcome its consequences. In Qatar, we value our economic partners around the world, and we view Algeria as a market full of investment opportunities in different sectors.”
He added: “We are also witnessing a great economic openness supported by the attractive investment incentives provided by the state to foreign investors, such as the new investment law that allows 100% ownership in most economic sectors, in addition to logistical elements, such as the single window, free zones, Hamad International Airport, and Hamad Port.
“Therefore, we invite Algerian investors to take advantage of the promising investment opportunities provided by the Qatari economy, and to work side by side to achieve common economic interests.”
Mola emphasised that “in the union is strength,” and expressed Algeria’s interest in strengthening co-operation with Qatar in all areas, especially that the two countries have distinguished relations and share plans, such as economic diversification.
He said Algerian companies are “strong, competitive, and have many capabilities that enable them to access large markets.” Mola also talked about Algeria’s efforts to develop its investment climate, attract foreign investors, and focus on opportunities for bilateral cooperation, such as industry, tourism, agriculture, and industrial food.
Participating Algerian and Qatari companies introduced the sectors they represent, such as food, agriculture, tourism and transportation, contracting, import and export, cosmetics, hospitality, retail, and banking and financial services.
They also discussed the possibility of exchanging information on projects and possible investment opportunities. The Algerian National Agency for Investment Development provided a brief presentation on investment opportunities in agriculture, pharmaceutical industries, tourism, renewable energy, and communications technology.
Chaibab Tayeb, vice president of the Algerian chamber, underscored the need to establish air and navigation lines to increase trade movement. He stressed that launching the joint business council “is an affirmation of strong ties and solidarity to overcome the crisis together.”
