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This Is How Much Qatar Spends on Trade With Its Regional Allies

Tuesday, October 09, 2018 > 08:56:34


Qatar’s trade volume with 11 countries that are participating in the International Products Exhibition and Conference (IPEC), which begins today, totalled nearly QR20bn in 2017, official figures show.

The three-day event is being held under the patronage of HE the Prime Minister and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa al-Thani, at the Doha Exhibition and Convention Centre.

The participating countries are; Turkey (two-way trade volume of QR4.9bn), Pakistan (QR5.86bn), Oman (QR4bn), Kuwait (QR3bn), Jordan (QR1.07bn), Iran (QR357mn), Morocco (QR330.5mn), Tunisia (QR208.8mn), Algeria (QR166.5mn), Tajikistan (QR1.5mn) and Azerbaijan (QR9.5mn).

IPEC will host a specialised conference that brings together representatives of participating countries, business associations, private business owners, and entrepreneurs, with Qatari private and public bodies, to examine Qatar’s achievements, projects, and plans towards the Qatar National Vision 2030.

The conference will touch upon fundamental topics including; the recently drafted National Development Strategy 2017-2022, requirements to facilitate investment in Qatar, initiatives and agreements with international partners, as well as the Qatari market’s benefits and Public Private Partnerships (PPP) opportunities, among others.

The conference will also be a launchpad for new projects, initiatives, and strategies that serve Qatar’s National Vision and promote mutually-beneficial economic co-operation.

The event will highlight the most important investment opportunities and explore ways to overcome the challenges of expanding investments in the region.

Organisers said the exhibition will open up new horizons for diverse businesses in Qatar and allow investors direct access to projects in the country. A large number of politicians, business leaders and government officials from across the Middle East and North Africa (Mena) will participate in the event.

The exhibition will host a Qatari pavilion that will bring together representatives of several ministries and government bodies as well as a number of local companies supervised by the Qatar Chamber and Qatar Development Bank.

The Ministry of Economy and Commerce is among the major participants of IPEC 2018. The ministry’s participation reflects Qatar’s keenness to strengthen economic co-operation and bolster bilateral trade with its key partners around the world while contributing to efforts to bolster the role of the Qatari private sector in building effective partnerships with counterparts around the world.

During the exhibition, the ministry will shed light on laws and regulations governing investments as well as the incentives that Qatar offers to investors. The ministry will also outline key economic sectors that offer promising investment opportunities as well as legislative incentives aimed at regulating the investment sector.

The ministry will also highlight the investor-friendly business environment and the solid economic growth rates as well as the state’s efforts to enhance co-ordination and co-operation among all government agencies to promote an attractive investment environment.

It will hold meetings with businessmen and potential investors to familiarise them with investment opportunities in Qatar and the development of a safe investment environment, which has transformed Qatar into an attractive investment hub.

At the pavilion, the ministry will review the terms and requirements for the extraction of a commercial record, commercial licences and will familiarise the public with the smart electronic services it offers through its website and mobile app.

The exhibition, which is attended by several representatives from Kuwait, Oman, Jordan, Algeria, Morocco, Tunisia, Turkey, Iran, Pakistan, Azerbaijan and Tajikistan, presents a key opportunity to strengthen Qatar’s relations with its leading partners from around the world.

Qatar Tourism Authority (QTA) acting chairman Hassan al-Ibrahim, said in a statement yesterday that IPEC sheds light on a number of economic challenges in the Mena and Central Asia.

"Government delegations and companies from 11 friendly countries that have been supporting Qatar since the imposition of the blockade on Qatar are taking part in IPEC along with more than 19 Qatari government and semi-government organisations," he explained.

In total, the exhibition features more than 360 companies from Qatar and the participating countries. In addition, more than 2,000 individuals have registered to attend IPEC, which will witness fourdiscussion forums and presentations by 22 senior officials.”

Al-Ibrahim added: “Qatar’s unique offerings make it a premium destination in the region for hosting key business events. Today, Qatar is accessible from all over the world and 73% of the world’s population can enter the country visa-free. Furthermore, Qatar’s hospitality industry offers the best guest experience in the Middle East, in addition to an abundance of local expertise and resources, complemented by the support QTA extends to sector stakeholders, empowering them to the host world-class business events.”

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