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QNA
Moscow
Economic ties between Russia and Qatar have seen a spectacular rate of growth in the recent past, Minister of Commerce and Industry HE Ali bin Ahmed al Kuwari has said in Moscow.
Putting the growth in numbers, he said trade between the two countries jumped 243.7 percent to reach QR1.06 billion in 2018 from QR307.6 million in 2017.
The future of the Russia-Qatar ties is promising, he said.
This came in a speech delivered by the Qatari minister during the fourth session of the Qatari-Russian Joint Committee for Economic, Trade and Technical Cooperation held in Moscow on Wednesday. It was chaired by Kuwari and Minister of Energy of Russia Alexander Novak.
Hailing the close ties between Qatar and Russia, Kuwari said it deepened following the historic visit of the Amir HH Sheikh Tamim bin Hamad al Thani to Moscow in March 2018.
Speaking about the Russian investments in Qatar, the minister noted that around 50 Qatari-Russian companies operate in Qatar with joint investments, besides a company with 100 percent Russian capital. These companies operate in various economic sectors, he added.
The minister also commended the role played by agreements and memoranda of understanding (MoUs) signed by the two countries in enhancing the levels of cooperation between the two sides.
These agreements, he pointed out, covered several areas including industry, trade and investment, economy, energy, infrastructure and other vital areas.
One of these agreements is the establishment of the Rosneft Research and Development Centre at Qatar Science and Technology Park (QSTP).
The Qatari minister stressed the need to exert more joint efforts at the level of the public and private sectors to stimulate the movement of trade and investment and their growth to reflect the economic capabilities that distinguish the two countries.
He also praised the efforts made by the two sides to achieve a qualitative leap in investment flows between the two countries.
Kuwari said Qatar attaches great importance to supporting the economies of its various strategic partners around the world, especially Russia. Qatar has sought to diversify its investments in Russia to include important strategic sectors, he said, adding that the investment organs of the two countries were in an ongoing dialogue to identify new and promising projects to serve common interests.
The minister highlighted the remarkable progress made Qatar in recent years in implementing its major development plans and establishing itself as one of the most stable, competitive and growth economies in the region.
He said the Qatari economy had witnessed a significant recovery with the entry of new national companies in the stock market, the opening of more than 823 Qatari companies in the field of food production, services and manufacturing industries, in addition to the expansion of industrial cities to provide about 769 industrial plots, and work on the completion of about 337 projects in the Industrialization sector, besides opening promising investment opportunities in the non-oil sectors .
Speaking about the legislative environment and the business climate in the country, the minister said Qatar had developed several pieces of legislation regulating the business environment and these laws have allowed foreign investors to acquire 100 percent ownership in all sectors and economic and commercial activities. In addition, individuals and non-Qatari commercial companies can now own real estate and invest in this strategic sector.
Concluding his remarks, the minister said expressed his hope that the results of the fourth session of the Qatari-Russian Joint Committee would contribute to consolidating economic, trade and investment cooperation between the two countries.
The two sides discussed the progress made in the recommendations of previous sessions of the Committee, current projects and plans for their expansion, as well as ways to overcome the obstacles facing some projects.
The two sides also discussed a number of topics related to enhancing economic, trade and investment cooperation between the two countries in various fields including energy, industry, agriculture, transportation, sports, education, science and technology, culture and aviation.
Qatar and Russia also agreed to take the necessary steps to move forward in the approach of consolidating trade and investment cooperation between the two countries, with the aim of increasing the volume of trade exchange and facilitating the flow of goods, services and investments between the two countries.
Moscow
Economic ties between Russia and Qatar have seen a spectacular rate of growth in the recent past, Minister of Commerce and Industry HE Ali bin Ahmed al Kuwari has said in Moscow.
Putting the growth in numbers, he said trade between the two countries jumped 243.7 percent to reach QR1.06 billion in 2018 from QR307.6 million in 2017.
The future of the Russia-Qatar ties is promising, he said.
This came in a speech delivered by the Qatari minister during the fourth session of the Qatari-Russian Joint Committee for Economic, Trade and Technical Cooperation held in Moscow on Wednesday. It was chaired by Kuwari and Minister of Energy of Russia Alexander Novak.
Hailing the close ties between Qatar and Russia, Kuwari said it deepened following the historic visit of the Amir HH Sheikh Tamim bin Hamad al Thani to Moscow in March 2018.
Speaking about the Russian investments in Qatar, the minister noted that around 50 Qatari-Russian companies operate in Qatar with joint investments, besides a company with 100 percent Russian capital. These companies operate in various economic sectors, he added.
The minister also commended the role played by agreements and memoranda of understanding (MoUs) signed by the two countries in enhancing the levels of cooperation between the two sides.
These agreements, he pointed out, covered several areas including industry, trade and investment, economy, energy, infrastructure and other vital areas.
One of these agreements is the establishment of the Rosneft Research and Development Centre at Qatar Science and Technology Park (QSTP).
The Qatari minister stressed the need to exert more joint efforts at the level of the public and private sectors to stimulate the movement of trade and investment and their growth to reflect the economic capabilities that distinguish the two countries.
He also praised the efforts made by the two sides to achieve a qualitative leap in investment flows between the two countries.
Kuwari said Qatar attaches great importance to supporting the economies of its various strategic partners around the world, especially Russia. Qatar has sought to diversify its investments in Russia to include important strategic sectors, he said, adding that the investment organs of the two countries were in an ongoing dialogue to identify new and promising projects to serve common interests.
The minister highlighted the remarkable progress made Qatar in recent years in implementing its major development plans and establishing itself as one of the most stable, competitive and growth economies in the region.
He said the Qatari economy had witnessed a significant recovery with the entry of new national companies in the stock market, the opening of more than 823 Qatari companies in the field of food production, services and manufacturing industries, in addition to the expansion of industrial cities to provide about 769 industrial plots, and work on the completion of about 337 projects in the Industrialization sector, besides opening promising investment opportunities in the non-oil sectors .
Speaking about the legislative environment and the business climate in the country, the minister said Qatar had developed several pieces of legislation regulating the business environment and these laws have allowed foreign investors to acquire 100 percent ownership in all sectors and economic and commercial activities. In addition, individuals and non-Qatari commercial companies can now own real estate and invest in this strategic sector.
Concluding his remarks, the minister said expressed his hope that the results of the fourth session of the Qatari-Russian Joint Committee would contribute to consolidating economic, trade and investment cooperation between the two countries.
The two sides discussed the progress made in the recommendations of previous sessions of the Committee, current projects and plans for their expansion, as well as ways to overcome the obstacles facing some projects.
The two sides also discussed a number of topics related to enhancing economic, trade and investment cooperation between the two countries in various fields including energy, industry, agriculture, transportation, sports, education, science and technology, culture and aviation.
Qatar and Russia also agreed to take the necessary steps to move forward in the approach of consolidating trade and investment cooperation between the two countries, with the aim of increasing the volume of trade exchange and facilitating the flow of goods, services and investments between the two countries.
