Officials of Qatar Chamber and Saudi Arabia’s Asharqia Chamber participated in the Qatar-Saudi Business Meeting held in Doha Sunday in the presence of key dignitaries from both sides.
The meeting, hosted by Qatar Chamber, was co-chaired by first vice chairman Mohamed bin Towar al-Kuwari and Asharqia Chamber chairman Badr bin Suleiman al-Raziza.
The participants discussed ways to enhance co-operation between Qatari and Saudi businessmen in the fields of trade and investments, as well as the investment opportunities available on both sides.
They also discussed the possibility of building alliances and partnerships between companies in Qatar and their counterparts in Saudi Arabia to achieve economic and commercial integration.
Addressing the meeting, al-Kuwari stressed the interest of Qatar Chamber to boost co-operation and open new partnership channels between both countries’ companies. He said the meeting would contribute to achieving further development in the two countries economic and commercial relations.
Al-Kuwari said Qatar and Saudi Arabia share “close and historic relations,” which are reflected in their economic ties, especially with the common desire of the private sector in both countries to bolster co-operation and forge alliances and partnerships.
He noted that Qatar-Saudi bilateral trade exchange “began to gradually return to its previous levels,” which amounted to “QR674mn” in 2021, which, according to al-Kuwari, “is still below expectations compared with pre-2017 levels.”
Al-Kuwari underscored the close relations between the Qatar and Asharqia chambers and both organisations’ drive to cement relations and encourage companies from Qatar and Saudi’s Eastern Province to develop cooperation links and establish joint investments and partnerships.
This also affirms that the Eastern Province represents special importance to the Qatari private sector due to its geographical position and the presence of all incentives and facilitations to develop trade exchange between both sides.
Al-Kuwari underscored the importance of co-ordination between both chambers in expanding private sector co-operation, activating trade, and forging new investment opportunities.
He called on Saudi businessmen to expand their investments in Qatar and benefit from incentives being offered by the government. Al-Kuwari urged Qatari businessmen to explore opportunities available in the Eastern Province and co-operate with their Saudi counterparts in joint ventures that would expand the private sector’s contribution to achieving both counties’ 2030 national vision.
Al-Raziza said Qatar and Saudi Arabia enjoy extended relations and a unified vision to achieve an “inclusive renaissance” for the interest of their people. He lauded the role of the Qatar-Saudi Co-ordination Council in strengthening bilateral relations and expanding partnerships between both countries in line with the 2030 national vision, which supports joint-Gulf co-operation and creates new opportunities between the two brotherly peoples.
He said Saudi Arabia is looking forward to broader partnerships between the business sectors in the two countries, especially in light of the favourable conditions that are supported by the aspirations of both nations’ leaderships and the fast-growing markets and sectors in Qatar and Saudi Arabia.
Al-Raziza stressed that this contributes to creating new vistas of co-operation and partnerships, achieving economic integration, and increasing the trade exchange in the private sector.
During the meeting, the Qatar Investment Authority delivered a presentation on investment opportunities available in Qatar. The Saudi delegation reviewed a number of investment elements in the Eastern Province, such as land and air border crossings in the region, which contains 1,845 factories or 22% of the total factories in Saudi Arabia. The most important industries in the province include chemical industries, textiles, paper, foodstuffs, non-metallic industries, oil, gas, coal, and minerals, among others.
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