Qatar, Hungary chambers discuss developing ties in various sectors


Qatar Chamber and Hungarian Chamber of Commerce and Industry discussed the strengthening of co-operation in various fields of trade, and ways to establish partnerships in sectors including infrastructure, agriculture, automotive industry, chemical industry, pharmaceutical industry and others.

The two sides held a meeting in the presence of the Vice-President of the Hungarian Chamber of Commerce and Industry Franz Miklosi, ambassador of the Republic of Hungary to the State of Qatar Fodor Barnabas, and a number of business owners and representatives from both sides.

First Vice-Chairman of Qatar Chamber Mohamed bin Ahmed bin Twar al-Kuwari said that the volume of trade exchange between the State of Qatar and the Republic of Hungary achieved a growth of 40% during the last year, reaching QR337mn, compared to QR241mn in the previous year. He stressed the interest of both sides in developing these relations and exploring broader prospects for bilateral trade.

Al-Kuwari added that mutual visits at all levels and agreements signed between the two countries helped bring the business community and investors in Qatar and Hungary closer, and that Qataris view Hungary as a leading investment destination, especially in sectors such as the automotive, chemical, pharmaceutical, infrastructure, and agricultural industries and others. He stressed that the Qatari businessmen want to explore the available investment opportunities and to identify the investment climate and the advantages offered by Hungary to foreign investors, stressing the support of Qatar Chamber and its encouragement to Qatari investors seeking to benefit from the investment incentives in Hungary and discuss the establishment of investments and alliances that support trade relations between the two countries.

Al-Kuwari added that Qatar has many opportunities for co-operation between the two sides, especially in light of the incentives provided by the State to encourage investment in industry, agriculture, tourism and other sectors.
For his part, Vice-President of the Hungarian Chamber of Commerce and Industry Franz Miklosi said that the current trade co-operation between the Qatari and Hungarian private sectors is not corresponding with the great potential of the two countries.

He called on businessmen in both countries to explore ways of enhancing co-operation, activating joint agreements and memorandums of understanding, and discussing the establishment of economic partnerships and alliances that would support economic and trade relations between the two countries.

Miklosi added that his country has an investment climate that stimulates the establishment of joint Hungarian-Qatari projects, and that the Hungarian government is keen to facilitate business for Qatari investors, and the Hungarian Chamber of Commerce and Industry supports joint ventures between the two sides.

On the most prominent sectors in Hungary where Qatari investors can launch projects, the Vice-President of the Hungarian Chamber said that the automotive sector is the leading sector, noting to the existence of distinct sectors such as medicines, information technology, food and others.

He expressed hope that the meeting will result in the establishment of joint investments between businessmen and contribute to raising the volume of trade exchange between the two countries.

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