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Tribune News network
Doha
Qatar views Argentina as an important investment and commercial partner and will boost joint cooperation especially in agriculture, industry, energy, transport, infrastructure and tourism sectors, Minister of Economy and Commerce HE Sheikh Ahmed bin Jassim bin Mohammed al Thani has said.
He was speaking at the first session of the joint Qatari-Argentine Committee for Economic and Commercial Cooperation held in Buenos Aires on Tuesday. The session was co-chaired by the Secretary for International Economic Relations of Argentina, Horacio Reyser Travers.
Sheikh Ahmed said the meeting gives an opportunity for both the countries to complete the objectives discussed during Qatar-Argentina Business and Investment Forum held in Doha last year, and reflects the keenness of the two countries to consolidate the bonds of cooperation.
"The friendly relations between the two have contributed to the strengthening of cooperation between the two countries in several fields including economy, trade and investment," he said.
Sheikh Ahmed noted that the volume of trade exchange between the two sides amounted to $192.5 million in 2016, and expressed hope that the trade volume would further increase in the coming years.
The economy minister praised the important agreements and memorandums of understanding (MoUs) signed between the two countries, notably the Agreement on the Mutual Promotion and Protection of Investments signed last year.
He expressed hope that the relations between the private sectors and businessmen from both sides, would play a bigger role by enhancing economic and investment cooperation.
The two sides reviewed cooperation in different fields, including economy, trade, investment, energy and gas projects, small- and medium-sized enterprises (SMEs), agriculture and transportation.
They agreed to take necessary steps to promote and develop economic relations with the aim of increasing the volume of trade exchange and facilitating the flow of goods and investments between the two countries.
The two sides also agreed to accelerate the ratification of an agreement on the protection and promotion of mutual investments and enforcing it as soon as possible.
They also agreed on the need to conclude the signing of the agreement on avoidance of double taxation, and the need to increase communication between the private sectors on both sides by establishing a Qatari-Argentine Business Council.
On the sidelines of the event, Sheikh Ahmed held bilateral meetings with more than 60 leading Argentinean companies from the fields of food, energy, banking and real estate.
During the event, the minister highlighted the investment opportunities available in Qatar. He also elaborated on the advantages of investment law for foreign investors, including the possibility to own up to 100 percent of the capital in many sectors.
The meetings discussed the available investment opportunities and the state's priorities in investment, especially in food and pharmaceutical industries.
Establishing trade partnerships or direct investment ownership of 100 percent for these companies was also discussed.
The meetings come as part of the efforts of the Ministry of Economy and Commerce to attract investments and major companies to operate in the country, the statement said.
