15 June 2022

Qatari-Sierra Leonean Trade Meeting To Enhance Economic Cooperation

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Doha, June 15 (QNA) - The Qatari-Sierra Leone business meeting held today, discussed the possibility of establishing partnerships between businessmen of both countries, which would contribute to increased rates of trade and investment exchange.
HE Minister of Trade and Industry of Sierra Leone Edward Hinga Sandy stressed in his speech via videoconference that the two countries have strong relations in many fields, and that there is a desire on the part of his countrys government to enhance trade and economic cooperation with the Qatari private sector, pointing out that there are many opportunities that businessmen can seize in order to establish commercial partnerships and alliances. The minister expressed his hope that the joint business meeting would produce results that would enhance commercial cooperation between the two sides.
Sandy highlighted his country's openness to foreign investments, in light of the presence of many components for those wishing to invest in Sierra Leone, whether related to the geographical location as an entrance to a number of African markets, or through other components related to the foreign capital protection system, and the taxation system among others, noting that Sierra Leone has investment in a number of agricultural and industrial sectors, which are rich in natural resources such as diamonds, gold, iron, wood and others.
For his part, First Vice-Chairman of the Chamber Mohammad bin Twar Al Kuwari , who headed the Qatari delegation during the meetings, said that the State of Qatar and the Republic of Sierra Leone have close relations based on respect and mutual trust, adding however that the volume of trade exchange between both countries is still weak and does not live up to the aspirations and potentials of both the two countries.
Furthermore, Al Kuwari pointed out that Sierra Leone provides significant opportunities for investment in an abundance of domains such as agriculture, mining and natural resources, paving the way for the development of cooperation between Qatari and Sierra Leonean companies, stressing the interest Qatari businessmen have to learn about investment opportunities available in this country. Moreover, there is also the interest, eagerness and support to enhance cooperation between the private sectors of both countries offered by the Qatar Chamber.
He also expressed Qatar Chamber's readiness to assist Sierra Leonean businessmen and investors wishing to establish direct or joint projects in Qatar. He also encouraged Qatari investors to invest in Sierra Leone, especially in light of the great importance the State of Qatar attaches to investing in Africa in general, adding in this context: "The State of Qatar has succeeded in achieving a number of achievements on all fronts, and its economy is witnessing a comprehensive renaissance thanks to its wise leadership and sound economic policies, which made it a leading regional and global center for business and investment. Qatar developed its infrastructure on a global level and established free and industrial zones. It also issued many economic legislations and laws that created an attractive and investment-inducing environment.
The First Deputy of the Qatar Chamber called on Sierra Leonean companies to invest in Qatar and build partnerships with Qatari companies in many sectors such as industry, services, tourism, and others.
For his part, CEO of Sierra Leone Investment and Export Promotion Agency (SLIEPA) Sheku Lexmond Koroma, said that he headed a delegation comprising some government agencies, business owners, and investors from Sierra Leone aims to enhance trade and economic relations with the Qatari private sector, and to identify the possibility of establishing mutual partnerships that increase the volume of trade exchange between the two countries.
Koroma pointed out that the two countries have economic components and incentives that could form a basis for cooperation between Qatari and Sierra Leonean business owners. Koroma invited Qatari business owners to visit Sierra Leone and learn about the available investment opportunities closely.
During presentations, the Sierra Leonean delegation introduced the most important economic sectors in which Qatari investors can establish projects, the most important of which is the agricultural sector, which contributes about 60% of the national income, and that there are opportunities to invest in foodstuffs, including cocoa, which is the most prominent Sierra Leonean export, rice, grains, poultry, and vegetables.
The presentation also reviewed several promising opportunities in the tourism sector, as well as a presentation reviewing the features of the Sierra Leonean economy and the investment incentives provided by the government, introducing the tax system, exemptions, and facilities granted to foreign investments. (QNA)

Keywords

Economy, Qatar
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