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Satyendra Pathak
Doha
The Emir HH Sheikh Tamim bin Hamad al Thani and President of Tunisia Beji Caid Essebsi discussed bilateral relations and means of enhancing them in various fields, especially in the economic and investment sectors, in Doha on Wednesday.
Qatar and Tunisia are in talks to set up a $2 billion joint fund for investing in Tunisia, a top official of the Tunisian Confederation of Industry and Trade said.
Talking to Qatar Tribune on the sidelines of a meeting between Essebsi and Qatari businessmen in Doha, Tunisian Confederation of Industry and Trade Executive Board Member Mohamed Kooli said Qatar has agreed to offer $1 billion for the joint fund. The rest will be invested by the Tunisian side, he said.
The formal announcement of the joint fund, which is on the top of the agenda for discussions during Essebsi's visit, will be made soon, Kooli said.
The joint fund will invest mainly in tourism, agriculture and auto sectors in Tunisia.
Kooli said Tunisia is also in talks to set up more food processing plants in Qatar on the lines of Qatari Tunisian Food Company.
He said the two countries are working on three more joint ventures.
A dates processing and packaging plant is likely to be opened in Qatar soon.
"We also want to enter European and Asian markets with increased production of olive oil at our plant in Doha," he said.
Addressing Qatari businessmen, the Tunisian president said a new investment law will be issued in the next two weeks to encourage investment in Tunisia by reducing administrative procedures and bureaucracy.
"The new law will contain financial incentives for investors. It will give foreign investors more flexibility to transfer funds, including profits, out of the country," the president said.
Essebsi said a new body will be created to ease the process for the flow of Qatari investments into Tunisia.
"Your investment will be protected and we assure that you will make good profit on your investment," he said.
