Doha, July 14 (QNA) - The first meeting of the Joint Working Group on Trade between the State of Qatar and the friendly Republic of India was held in Doha, with the participation of several competent authorities in the state. The meeting aimed to enhance and strengthen trade and economic relations between the two countries.

In a statement, the Ministry of Commerce and Industry affirmed that the meeting, which was recently held in Doha, discussed opportunities for cooperation to strengthen trade and economic relations in vital sectors such as industry, pharmaceuticals, healthcare, agriculture, and food security.

Besides, the meeting discussed mechanisms to enable the private sector to benefit from promising investment opportunities in both countries were also explored by strengthening partnerships between the business sectors and increasing the volume of trade exchange between the two sides.

The Republic of India is the second largest trading partner of the State of Qatar, with total bilateral trade reaching $13.5 billion last year. More than 20,000 Indian companies operate in Qatar, comprising a mix of fully owned and joint venture companies between Qatar and India.

A joint working team in the field of trade has been established between both sides to discuss key trade issues, explore economic and technical cooperation opportunities, and enhance, facilitate, expand, and diversify trade between the two countries at the regional level.

The joint trade working team will play a vital role in swiftly resolving bilateral issues by removing trade barriers, simplifying customs procedures, and improving infrastructure, logistics services, and transit facilities to facilitate smoother cross-border trade. (QNA)