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Tribune News Network
Doha
THE Minister of Commerce and Industry HE Ali bin Ahmed Al Kuwari on Thursday said that the trade volume between Qatar and EU members reached $7 billion in the first nine months 0f 2020, representing more than 12 percent of Qatar’s total trade with the world.
The minister was speaking during a teleconference meeting held with ambassadors and representatives of EU countries, in the presence of Director of the European Affairs Department at the Ministry of Foreign Affairs Ambassador Salem Abdullah Al Jaber and representatives from the World Trade Organisation.
Highlighting the strength of ties between Qatar and the EU, the minister noted that the growth in trade ties was witnessed despite the economic implications of the coronavirus (COVID-19).
The minister said that the EU managed to maintain its status as a strategic trade partner of Qatar and remained the second biggest trade partner of the country.
The European Union countries are also the second source of Qatari imports, which amounted to about 23.2 percent of total imports during the same period.
He pointed out that Qatar signed a number of important commercial and economic agreements with EU members.
The two sides signed 14 commercial, economic and technical cooperation agreements, and 12 agreements to encourage and protect mutual investments with the countries of the European Union, he said adding that the Ministry of Commerce and Industry also chaired eight joint committees with a number of European countries.
He noted that Qatar has 50,000 residents from the EU, with 95 percent of them doing high-skilled jobs. There are also three commercial attaches in Geneva, London, and Paris, with more expected to follow in other EU countries.
The minister also said that Qatar invested $71.2 billion in Europe, with $31 billion of these invested in EU countries. He also noted that the number of European companies operating in Qatar reached 2129, with 307 of them 100 percent owned by the European side.
The minister said that Qatar reacted quickly to the COVID-19 pandemic by supporting the private sector and ensuring the functioning of the financial system.
The minister praised the measures taken to support the economy, including the QR75 billion economic package that provided support to the private sector.
The minister reiterated Qatar’s commitment to enhancing international cooperation to ensure that trade remains an engine for economic recovery.
The country also increased its efforts in improving its logistics capabilities by relying on its modern infrastructure to enhance its commercial and investment role regionally and internationally.
The minister also stressed that Qatar shares the EU’s view of giving importance to maintaining a multilateral trading system.
The meeting also reviewed bilateral relations between Qatar and the EU, and means of expanding cooperation in the areas of joint interest.
Doha
THE Minister of Commerce and Industry HE Ali bin Ahmed Al Kuwari on Thursday said that the trade volume between Qatar and EU members reached $7 billion in the first nine months 0f 2020, representing more than 12 percent of Qatar’s total trade with the world.
The minister was speaking during a teleconference meeting held with ambassadors and representatives of EU countries, in the presence of Director of the European Affairs Department at the Ministry of Foreign Affairs Ambassador Salem Abdullah Al Jaber and representatives from the World Trade Organisation.
Highlighting the strength of ties between Qatar and the EU, the minister noted that the growth in trade ties was witnessed despite the economic implications of the coronavirus (COVID-19).
The minister said that the EU managed to maintain its status as a strategic trade partner of Qatar and remained the second biggest trade partner of the country.
The European Union countries are also the second source of Qatari imports, which amounted to about 23.2 percent of total imports during the same period.
He pointed out that Qatar signed a number of important commercial and economic agreements with EU members.
The two sides signed 14 commercial, economic and technical cooperation agreements, and 12 agreements to encourage and protect mutual investments with the countries of the European Union, he said adding that the Ministry of Commerce and Industry also chaired eight joint committees with a number of European countries.
He noted that Qatar has 50,000 residents from the EU, with 95 percent of them doing high-skilled jobs. There are also three commercial attaches in Geneva, London, and Paris, with more expected to follow in other EU countries.
The minister also said that Qatar invested $71.2 billion in Europe, with $31 billion of these invested in EU countries. He also noted that the number of European companies operating in Qatar reached 2129, with 307 of them 100 percent owned by the European side.
The minister said that Qatar reacted quickly to the COVID-19 pandemic by supporting the private sector and ensuring the functioning of the financial system.
The minister praised the measures taken to support the economy, including the QR75 billion economic package that provided support to the private sector.
The minister reiterated Qatar’s commitment to enhancing international cooperation to ensure that trade remains an engine for economic recovery.
The country also increased its efforts in improving its logistics capabilities by relying on its modern infrastructure to enhance its commercial and investment role regionally and internationally.
The minister also stressed that Qatar shares the EU’s view of giving importance to maintaining a multilateral trading system.
The meeting also reviewed bilateral relations between Qatar and the EU, and means of expanding cooperation in the areas of joint interest.
