The Qatari Businessmen Association (QBA), headed by its Chairman, HE Sheikh Faisal bin Qassim al-Thani, recently held a meeting with Algerian President Abdelmadjid Tebboune on the sidelines of the 6th Summit of Gas Exporting Countries Forum held in Doha.
In a statement, QBA stated that the meeting was an opportunity to strengthen the brotherly relations between Qatar and Algeria, especially in the economic and commercial sectors.
During the meeting, HE Sheikh Faisal was joined by QBA members Nasser al-Haider, Sheikh Mohamed bin Faisal bin Fahad al-Thani, Ashraf Abu Issa, Moataz al-Khayat, Faisal al-Mana, Dr Mohamed Althaf, and Sheikh Jassim bin Faisal al-Thani.
Sheikh Faisal welcomed Tebboune at the beginning of the meeting, which, he said, represents “a positive step” for strengthening Qatari-Algerian relations and achieving more economic co-operation that would contribute to the opening bridges of communication and encouraging investors in both countries to develop joint investments.
Sheikh Faisal also spoke about his own experience as an investor in Algeria, focusing on the importance of the Algerian market and its “great natural and economic potential,” in addition to the presence of vast fertile lands that could be an interest to investors in the agricultural sector. He highlighted the keenness of Qatari businessmen to discuss potential co-operation and investments in both countries to achieve mutual benefits.
Sheikh Faisal heads the Qatari side of the Qatari-Algerian Business Council, while his counterpart from the Algerian side is Kamal Mulla. The council was recently reactivated during the global health crisis, and meetings were held virtually in the presence of the Ministers of Commerce of both countries as an affirmation of the strong relations and the bilateral solidarity to develop ties with economic institutions and to create a platform for exchanging views and discussing investment opportunities.
Tebboune lauded the “brotherly and growing relations that have been refined by decades of economic co-operation,” which made Qatar “the largest Arab investor in Algeria” and accounts for “74%” of all foreign investments in the country, thanks to the sustainable development policy pursued by Algeria and the introduction of a number of laws and legislation that are aligned with international standards, in addition to “the great similarity” of the two countries’ investment climate, which created strong partnerships.
The president also said Algeria’s location offers “great advantages” to investors, especially its openness to the European and African markets, and its relations with all African and European countries, which encourages Qatari investors to establish investments in the country.
At the end of the meeting, QBA members expressed their hope that the meeting would constitute as a step towards strengthening relations and achieving more economic and commercial co-operation. It is worth mentioning that the volume of trade exchange between Qatar and Algeria amounted to about QR148mn in 2021.
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