Doha, June 14 (QNA) - Qatar-Bulgaria Business Meeting called for the establishment of alliances between business owners in both countries. The meeting stressed the need to strengthen cooperation and investment relations available in both Qatar and Bulgaria, and the possibility of establishing partnerships between business owners, which would contribute to increasing the rates of trade and investment exchange.
The meeting was held today in Qatar Chamber under the chairmanship of HE First Vice-Chairman of Qatar Chamber Mohamed Bin Ahmed Twar Al Kuwari and President of Association of the Bulgarian Arab Economic Chambers Ahmad M. Alaeddine and on the Bulgarian side President of the Bulgarian Chamber of Commerce and Industry Tsvetan Simeonov. During the meeting, they discussed ways to enhance commercial and industrial cooperation relations and investment opportunities available in both Qatar and Bulgaria, and the possibility of establishing partnerships between Qatari and Bulgarian business owners in a way that contributes to increasing the rates of trade and investment exchange.
Bin Twar pointed out that Qatar and Bulgaria have strong relations in various fields and there is a common desire to develop and strengthen these relations, but the volume of trade exchange between the two countries is still less than our ambitions despite its escalating growth from year to year, reaching QR 109 million last year in 2021, compared to QR 79 million in 2020, with a growth rate of about 38%, expressing his hope that intra-regional trade will continue to grow in the coming years to reach the level of ambitions of the two countries, especially in light of the available capabilities and the firm desire of businessmen to strengthen these relations.
Bin Twar called on Qatari businessmen to explore the investment opportunities available in Bulgaria. In the same context, Bin Twar said that Qatar welcomes all foreign investments in light of the existence of strong infrastructure, huge logistical capabilities, encouraging investment incentives, and economic legislation that attracts investments in all sectors, especially with the presence of the non-Qatari capital investment law in economic activity, which provided many incentives for the non-Qatari investor, as well as the existence of free, logistical and industrial zones that provide a lot of promising investment opportunities.
First Vice-Chairman of Qatar Chamber pointed out that Bulgaria is a leading investment destination, especially in sectors such as energy, mining, machinery manufacturing, agriculture and tourism and others, stressing the desire of Qatari business owners to explore investment opportunities available in Bulgaria and learn about the investment climate and the advantages that Bulgaria grants to foreign investors. He said that Qatar Chamber encourages Qatari business owners to take advantage of the incentives offered by friendly countries such as Bulgaria to Qatari investors, in establishing investments and alliances that support trade relations between the two countries.
For his part, President of the Federation of Bulgarian Arab Economic Chambers Ahmed Mohieldin Alaeddin said that there are wide areas for business owners from both sides to cooperate and enter into joint partnerships, especially with the Bulgarian side to enhance cooperation with the Qatari private sector. He explained that he came at the head of a delegation that represents a number of entities concerned with investment in Bulgaria, and a number of major companies in the fields of industry and food.
For his part, President of the Bulgarian Chamber of Commerce and Industry Tsvetan Semyonov said that the trade relations between the two countries are strong and there is continuous communication, in addition to the cooperation agreements in the economic fields that were signed a few years ago, which constitute a promising opportunity for the business sectors in the two countries to benefit from these relations and enhance joint cooperation
He explained that the Bulgarian Chamber participated in a number of events with the Qatari side, and there is a welcome to Qatari investments in Bulgaria and the establishment of joint Qatari-Bulgarian projects. He stressed the readiness of the Bulgarian Chamber to cooperate with Qatar Chamber to bring business owners in the two countries closer.
During a presentation, the business environment in Qatar was reviewed and how to establish business in Qatar, while the Bulgarian side reviewed the most important investment incentives in Bulgaria in terms of the legal and tax system that encourage investment and the availability of skilled labor, as well as the most important Economic sectors available for investment in Bulgaria. (QNA)
14 June 2022
Qatar-Bulgaria Business Meeting Call for Alliances Between Business Owners
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