Qatar Chamber recently hosted a high-level session of the Qatar – Saudi Joint Business Council. During the meeting, both sides discussed issues of mutual interest, particularly those related to facilitating trade exchange procedures. Further dialogue focussed on ways of simplifying business establishment and enhancing mutual investments between the countries.
High Level Meeting Sees Promising Projects Promoted
The meeting highlighted shared interest in expanding markets and promoted promising projects in both nations. In addition, a number of presentations were delivered by both sides. A presentation was delivered on the Transit Shipments Initiative (Transit) while Saudi members showcased several other relevant initiatives. These included highlighting investment opportunities in the City of Aseer, real estate and the exchange of expertise in event organisation. Importantly, significant opportunities are available in the Saudi and Qatari private sectors, in areas including digitalisation and artificial intelligence. Further sectors of mutual interest include renewable energy, supply chains, real estate, construction, innovation, transportation, logistics and entrepreneurship. Trade exchange volume between both countries has doubled from QAR 2.5 billion (USD 690 million) in 2021 to QAR 5.5 billion (USD 1.51 billion) in 2024. Meanwhile, the value of Qatari direct investments in Saudi increased from QAR 9.9 billion (USD 2.72 billion) in 2021 to QAR 11.5 billion (USD 3.16 billion) in 2024.
Qatar Chamber Hosted Emirati Business Delegation
In associated news, Qatar Chamber also hosted a business delegation from the United Arab Emirates consisting of over 50 businesspeople. During the meeting, both sides discussed trade and economic cooperation relations and ways to enhance and develop them. Talks also explored ways of promoting mutual investments in food security, renewable energy, artificial intelligence and logistics. Notably, bilateral trade between both nations grew by 50% last year, reaching QAR 28 billion (USD 7.69 billion) compared to QAR 18 billion (USD 4.95 billion) in 2023. Qatari investments in the UAE amount to about QAR 4.96 billion (USD 1.36 billion), while the volume of direct Emirati investments in Qatar stands at nearly QAR 28.74 billion (USD 7.87 billion) across a wide range of economic sectors.
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