New Delhi, July 13 (QNA) - HE Assistant Undersecretary for Commerce Affairs at the Ministry of Commerce and Industry Saleh bin Majed Al Khulaifi said that India is the second-largest trade partner, noting the trade volume between the two countries increased by about 33 percent during the years 2021 and 2022, reaching USD 17.2 billion.
This statement came during his chairmanship of the State of Qatar's delegation in the 6th India-Arab Partnership Conference on "New Horizons in Investment, Trade and Services", which concluded Wednesday. The two-day event was held in the Indian capital, New Delhi.
HE Assistant Undersecretary for Commerce Affairs praised the strength and durability of the historical and strategic partnership between the Arab countries and India, especially the State of Qatar, pointing out that the State of Qatar's participation in this year's edition comes from a deep belief in the importance of partnership as a main guarantee for strengthening bilateral relations between states. HE expressed his aspiration to establish joint plans to consolidate future paths of cooperation between the Arab countries and India to stimulate mutual investments in the Arab and Asian markets for the benefit of all the economies of these countries.
Qatar's participation in the conference aims to shed light on the Qatari economy and its leading position regionally and internationally, introduce the attractive investment environment that the State of Qatar provides, review the most prominent incentives, advantages, and initiatives launched to support the private sector, enhance the competitiveness and diversification of the Qatari economy, in line with the Qatar National Vision 2030, and strengthen the distinguished bilateral relations between the State of Qatar and the Republic of India.
The conference witnessed the organization of several dialogue sessions that focused on several key topics, including investment opportunities in India, the pharmaceutical industries after the COVID-19 pandemic, food security, and energy.
The conference also held bilateral meetings between Arab and Indian businessmen to enhance communication between businessmen and investors and provide more commercial, investment, and economic opportunities between Arab countries and India.
At the end of the conference, the New Delhi Declaration was launched, which included several items to emphasize the importance of close cooperation between India and the Arab countries at various levels and promote the exchange of knowledge, experiences, and expertise in various sectors of common interest, as well as the importance of solidarity between the Arab countries and India to strengthen and direct relations towards sustainable development, exploring new opportunities for cooperation, in addition to emphasizing the importance of the role of the private sector in pushing trade and investment relations to broader horizons.
The India-Arab Partnership Conference was organized for the first time in 2008 to increase trade exchange and enhance cooperation between Arab countries and India.