21 June 2022

/Qatar Economic Forum/ Egyptian Minister of Trade to QNA: There Are Consultations Between Both Countries to Increase Investments

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  • QatarEgypt

Doha, June 21 (QNA) - HE Minister of Trade and Industry of the Arab Republic of Egypt Nevine Gamea said that there are consultations between her country and the State of Qatar to increase the volume of investments and expand them in new areas, especially in the field of energy projects.
In an interview with Qatar News Agency (QNA) on the occasion of her participation in the Qatar Economic Forum, Powered by Bloomberg, HE said that during her current visit to Doha, she presented to the Qatari side investment opportunities in the field of manufacturing, specialized industries, textiles and leather industries as a type of partnership between the two sides. There is communication between the two sides to prepare the atmosphere to open the capital of Egyptian companies to the Qatari business sector.
She said that the current Qatari investments include real estate, hospitality and tourism sectors, noting that there is a common desire to enhance these investments to reflect the good relations between Qatar and Egypt.
HE Minister of Trade and Industry of Egypt Nevine Gamea revealed that there is a Qatari-Egyptian agreement to launch a Joint Business Council between the two countries, explaining that there was an agreement with the Qatari side to announce an Egyptian-Qatari Joint Business Council that will be launched through a ministerial decision in Qatar and Egypt; the Council is formed of businessmen who will work to strengthen economic relations and the fields of investment and trade between the two countries.
In her interview with QNA, HE also revealed that she held discussions with HE Minister of Commerce and Industry Sheikh Mohammed bin Hamad bin Qassim Al-Thani and the Qatari Businessmen Association to set up an Egyptian exhibition in Doha specialized in distinguished Egyptian products in order to open markets for them in the State of Qatar.
She said that this will contribute to increasing the volume of trade exchange between the two countries, as the current volume of exchange is modest and does represent the nature of relations between the two countries. Therefore, there is interest from both sides to increase trade exchange by searching for new opportunities and prospects for cooperation in this aspect, she added.
HE said that she held a series of talks during her current visit to Doha with Qatari officials from the Free Zones Authority, Qatar Investment Authority and the Qatari Businessmen Association, which focused on opening new horizons for trade cooperation between Egypt and Qatar and exploring investment opportunities in both countries.
She mentioned that she reviewed with Qatari officials the package of incentives that Egypt provides to foreign investment in general and to Qatari investment in particular.
The Egyptian Minister of Trade and Industry explained that there is currently greater momentum and communication between the Qatari and Egyptian sides and a great exchange of visits, aimed at transforming the distinguished relations between the two countries into new projects that benefit both sides.
HE praised the comprehensive development witnessed by the State of Qatar, especially a few months away from hosting the FIFA World Cup Qatar 2022, adding that has been tremendous progress in projects, infrastructure and preparations for the World Cup.
She underlined the pride felt by all Arabs due the World Cup being held in Qatar and for the first time in an Arab country and in the region, pointing out that the world's attention will be on Qatar.
Regarding her participation in the Qatar Economic Forum, Powered by Bloomberg, Her Excellency explained that the Forum is an important platform for exchanging expertise and experiences in the field of economic development in the world in general and in the Arab world in particular.
She said that the Forum is also an opportunity to present all the challenges facing the global economy and examine a set of solutions that can be applied to overcome these challenges, especially in the Arab world. (QNA)

Keywords

Economy, Qatar
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