Madrid, May 18 (QNA) - HE Minister of Commerce and Industry Sheikh Mohammed bin Hamad bin Qassim Al-Thani and HE Minister of Industry, Trade and Tourism of Spain Reyes Maroto opened in the capital Madrid on Wednesday the Qatar-Spain Business Forum, in the presence of HE Prime Minister of the Kingdom of Spain Dr. Dr. Pedro Sanchez.
The Forum, which attended by an elite of businessmen in the two countries, aimed to build bridges of communication, enhance trade, investment and industrial relations between the State of Qatar and the Kingdom of Spain, create effective partnerships and attract new investments to the Qatari market.
In his opening speech, HE Minister of Commerce and Industry Sheikh Mohammed bin Hamad bin Qassim Al-Thani underlined the strength of the relations between the two countries which have witnessed an important development over the past years resulted in an increase in the volume of trade exchange by nearly 44% between 2020 and 2021 to reach about $1.2 billion in 2021.
On the investment level, HE the Minister of Commerce and Industry noted that the number of Spanish companies operating in the State of Qatar reached 220 companies active in a number of economic and vital fields. Meanwhile, HE the Minister pointed to Qatar's investments in the strategic sectors supporting the Spanish economy, including tourism, sports and real estate.
His Excellency added that the agreements signed between the two sides during the past years contributed to consolidating the bilateral relations, commending the formation of the Qatar-Spain Business Council which would be a platform and a starting point for enhancing the economic and investment cooperation.
HE the Minister noted that the State of Qatar is aware of the significance of partnership in strengthening bilateral relations between countries. Therefore, the State of Qatar views the Kingdom of Spain as a promising strategic partner in light of the important economic factors that characterize the two countries.
In this context, HE Sheikh Mohammed bin Hamad bin Qassim Al-Thani highlighted the position that the State of Qatar has occupied as a leading investment destination in the region and the world, by developing an advanced business environment based on a stimulating legislative and administrative system and a strong infrastructure that was designed and built in accordance with the highest international standards, thus consolidating the strategic location of the State of Qatar as a logistic gateway and a starting point for expansion towards the markets of the Middle East, Asia and Africa.
He pointed to the role of Qatari ports, including Hamad Port which is one of the most important commercial ports in the region, while noting the role of many other major institutions in promoting the country's economic openness and attracting major companies and investors from around the world.
HE Minister of Commerce and Industry Sheikh Mohammed bin Hamad bin Qassim Al-Thani added that these gains contributed to consolidating the strength and durability of the Qatari economy, referring to the latest estimates of the World Bank which expected the Qatari economy to grow by about 4.9% in 2022. 

In his speech during the Qatar-Spain Business Forum, HE Minister of Commerce and Industry Sheikh Mohammed bin Hamad bin Qassim Al-Thani noted the remarkable performance of the non-oil sectors, whose contribution to the country's GDP amounted to about 63.2 percent in 2021, pointing to the efforts made by the Ministry of Commerce and Industry to develop the contribution of the manufacturing sector.
His Excellency also referred to the rapid development witnessed by the telecommunications and information technology sector in the State of Qatar at the level of technical infrastructure, 5th generation networks and optical fibers, which contributed to the State of Qatar's leading position in the Middle East and North Africa region in e- and mobile government services maturity index for the year 2021, according to the report issued by the United Nations Economic and Social Commission for Western Asia "ESCWA".
In a related context, His Excellency valued the continuous efforts of the Qatari and Spanish sides to establish regulatory frameworks for bilateral cooperation between the two countries.
His Excellency referred to the memoranda of understanding signed between the two sides in the field of digital services, agricultural production and joint cooperation between the business sectors of the two countries.
His Excellency expressed his aspiration that the outcomes of the forum would contribute to advancing the distinguished bilateral relations of the two countries towards broader horizons of cooperation and joint action.
During the forum's activities, a dialogue session was organized on investment opportunities in the State of Qatar, during which video presentations were presented by HE CEO of the Investment Promotion Agency Qatar Sheikh Ali bin Alwaleed Al-Thani, and CEO and Board Member of the Qatar Financial Center Yousuf Mohamed Al Jaida, HE Executive Vice President of the Free Zones Authority Sheikh Mohammed bin Hamad Al-Thani, and the Executive Director of Qatar Science and Technology Park Yosouf Al Salehi.
The presentations also focused on the performance of the national economy, investment opportunities available in the State of Qatar, the business environment, advanced logistics infrastructure and promising economic sectors.
On the sidelines of the forum, a number of memoranda of understanding were signed between the Qatari and Spanish sides, in the presence of HE the Minister of Commerce and Industry, and HE the Minister of Industry, Trade and Tourism of the Kingdom of Spain.
The two sides concluded two memoranda of understanding between Qatar Chamber and each of the Spanish Chamber of Commerce and the Chamber of Commerce, Industry and Services in Madrid, and a memorandum of understanding between the Qatari Businessmen Association and the Spanish Iberdrola Company, and another between the Investment Promotion Agency and Iberdrola as well, to establish a global innovation center to support digital transformation in the State of Qatar.
A memorandum of understanding was also signed between Hassad Food Company and Integra Agricultura Y Tecnologia to recycle surplus agricultural production to develop innovative local projects that contribute to achieving food security for the State of Qatar, preserving local agricultural resources and increasing local production of fodder.
Qatari investments in Spain amount to approximately 21 billion euros, and the largest investment for the State of Qatar is in Iberdrola, with a share of close to 9 percent. The company is the largest in the Spanish Stock Exchange, with a capital of more than USD 80 billion.
Two-thirds of the activity of Iberdrola is located outside Spain in the United States of America, France, Germany, Britain, Brazil, and many other countries, in addition the Qatar Investment Authority and Iberdrola are partners in a company listed on the United States Stock Exchange, and Qatar invests in Iberdrola, and the two they invest in the USA.
The holding of the Qatar-Spain Business Forum in Madrid comes within the framework of the state visit paid by HH the Amir Sheikh Tamim bin Hamad Al Thani to the Kingdom of Spain as part of his European tour. (QNA)