Qatar and Bulgaria have recorded a 38% growth in trade exchange in 2021, according to figures from Qatar Chamber whose officials met Tuesday with a delegation from Bulgaria.
Qatar Chamber first vice chairman Mohamed bin Towar al-Kuwari welcomed Ahmad Muhieddine Alaeddine, the founder and chairman of the Association of Bulgarian-Arab Economic Chambers, and Tsvetan Simeonov, the president of the Bulgarian Chamber of Commerce and Industry, during the meeting held at the chamber’s Doha headquarters.
According to al-Kuwari, the volume of Qatar-Bulgaria trade exchange stood at QR109mn in 2021, registering a 38% growth over QR79mn recorded in the previous year.
Al-Kuwari said, “We hope that intra-regional trade will continue to grow in the coming years to reach the level of ambitions of the two countries, especially in light of the available capabilities and the firm desire of businessmen to strengthen these relations.”
During the meeting, both parties discussed ways to enhance commercial and industrial co-operation relations and investment opportunities available in Qatar and Bulgaria, as well as the possibility of establishing partnerships between Qatari and Bulgarian business owners to increase trade and investment exchange.
Al-Kuwari called on Qatari and Bulgarian businessmen to explore the investment opportunities available in Qatar and Bulgaria and to strengthen co-operation by establishing commercial alliances, whether in Qatar or Bulgaria.
He stressed that Qatar is a promising market and that it welcomes all foreign investments, citing the country’s strong infrastructure, huge logistics capabilities, investment incentives, economic legislation, free zones, and industrial zones that provide many promising opportunities.
Al-Kuwari described Bulgaria as a leading investment destination, especially in the energy, mining, machinery manufacturing, agriculture, and tourism sectors. He expressed the desire of Qatari business owners to explore investment opportunities in Bulgaria and to learn about the investment climate and the advantages that Bulgaria grants to foreign investors.
“Qatar Chamber encourages Qatari business owners to take advantage of the incentives offered by friendly countries, such as Bulgaria in establishing investments and alliances that support trade relations between the two countries,” al-Kuwari said.
Alaeddine said there are many opportunities for Qatari and Bulgarian business owners to co-operate and enter into joint partnerships. He said the Bulgarian side is keen to enhance co-operation with the Qatari private sector, citing members of the delegation who represent major companies specialising in the industrial and food sectors.
He said the Association of Arab-Bulgarian Economic Chambers aims to enhance Bulgarian-Arab co-operation and bring together Bulgarian companies wishing to invest in the Middle East and co-operate with Arab businessmen, citing the interest to increase commercial co-operation and strengthen economic ties with Qatari business owners.
Simeonov said trade relations between the two countries are strong. Several years ago, both countries signed co-operation agreements in the economic fields, which constitute a promising opportunity for the business sectors to enhance co-operation and benefit from these relations.
Qatar Chamber officials during a meeting with a trade delegation from Bulgaria.