06 June 2022

8th Iran-Qatar Joint Economic Committee Meeting Concludes

  • Qatar
  • IRAN

Doha, June 06 (QNA) - The 8th meeting of Iran-Qatar Joint Economic Committee chaired by HE Minister of Commerce and Industry Sheikh Mohammed bin Hamad bin Qassim Al Abdullah Al-Thani and HE Energy Minister of the Islamic Republic of Iran Ali Akbar Mehrabian concluded in Doha.
During the two-day session, the two sides discussed the progress made in the recommendations of the 7th meeting of the committee, current projects and plans for their expansion, and ways to overcome obstacles facing some projects.
Also, the joint committee discussed several issues related to enhancing cooperation between the two countries in various fields, including trade, industry, free zones, health, education, chambers of commerce, and other fields of common interest.
Both parties agreed to take the necessary steps to move forward in consolidating trade, investment, and industrial cooperation between the two countries to increase the volume of trade exchange between them, and facilitate the flow of goods, services, and investments between the two countries.
HE Minister of Commerce and Industry said at the beginning of the meeting of the committee that represents an additional building block for the well-established fraternal relations between the two countries, noting in this regard the advanced level witnessed by the bilateral cooperation between the two sides.
HE referred to HH the Amir Sheikh Tamim bin Hamad Al-Thani's visit to Tehran last month, which came after the recent visit of HE President of the Islamic Republic of Iran Ebrahim Raisi to Doha.
His Excellency said that the changes that the world is witnessing now are pushing the two countries more than ever towards concerted efforts to expand economic, trade, and investment cooperation to serve their common interests based on their strong and well-established relations, which were positively reflected in the level of trade exchange, witnessing a growth of about 34 percent in 2021.
In terms of investment, His Excellency explained that the Iranian private sector plays an important role in supporting the process of development and construction in the State of Qatar, pointing out that the number of Iranian companies operating in the country has reached about 811 companies active in a number of vital economic fields.
His Excellency also pointed out that the agreements and memoranda of understanding (MoU) signed between the two countries contribute to strengthening and consolidating the bonds of trade and investment cooperation between them. Those agreements included the Agreement for the Promotion and Protection of Mutual Investments and the MoU on Facilitating Transport and Transit Traffic, which was concluded between the governments of the State of Qatar, the Islamic Republic of Iran, and the Republic of Turkey, His Excellency explained.
HE Sheikh Mohammed bin Hamad bin Qassim Al Abdullah Al-Thani valued the important results reached in the 7th meeting of the Iran-Qatar Joint Economic Committee, where it was agreed to activate the Qatari-Iranian Business Council, which is holding its first meeting on Monday.
In this regard, His Excellency expressed his confidence in the Business Council's role in developing intra-regional trade, facilitating the flow of goods and services, and strengthening bridges of dialogue and communication between the Qatari and Iranian business sectors, which would pave the way for establishing more joint projects by taking advantage of available opportunities and important economic components that distinguish the two countries.
Regarding the Qatari economy, HE stated that the State of Qatar is continuing its efforts to enhance its economic openness and consolidate cooperation with all its trading partners around the world, given the firm position of trade as an inherent part of its deep-rooted history.
His Excellency added that the State of Qatar is aware of the importance of sustainable, flexible supply chains and trade systems based on equality, equal opportunities, and mutual benefit. This forms the tributary of the country's trade relations with all brotherly and friendly countries, especially the Islamic Republic of Iran.
His Excellency invited the Iranian private sector to take advantage of the incentives, investment advantages, and the advanced business environment that Qatar provides to the local and foreign private sector, which contributed to the consolidation of the country's strategic location as a logistic gateway and a springboard for expansion towards the markets of the Middle East, East Asia, and Africa.
Qatar relies on a strong infrastructure that has been designed and built according to the highest international standards, including Qatari ports, Hamad International Airport, free zones, and logistics, His Excellency said. These successes contributed to enhancing the strength and durability of the Qatari economy, which is expected to achieve a growth of about 4.9 percent in 2022, HE added.
At the conclusion of his speech, HE Minister of Commerce and Industry expressed his aspiration to follow up on the outcomes of the 8th meeting of the Iran-Qatar Joint Economic Committee and to build on the recommendations of the technical work team aimed at laying the foundations of a comprehensive strategic partnership that derives its continuity and success from the vision of the two countries' leaderships.
His Excellency also expressed his optimism about achieving more positive results during the Qatari-Iranian Business Council meeting. (QNA)


Economy, Qatar
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