Qatar Chamber hosted on Sunday the meeting of the Qatar-Saudi Joint Business Council in the attendance of QC Chairman HE Sheikh Khalifa bin Jassim Al-Thani, Undersecretary of the Ministry of Investment in KSA HE Eng. Mohammed bin Ahmed Al-Hasana, Ambassador of the KSA to the State of Qatar HH Prince Mansour bin Khalid bin Farhan Al Saud and the Chairman of the Saudi side at the joint council Hamad Al-Shuwaier, alongside members of the council from both sides.
Speaking at the meeting, HE Sheikh Khalifa stressed that the formation of the joint council between both countries is a culmination of the efforts exerted by both countries’ leaderships to further develop their economic and commercial and open new channels for establishing partnerships between Qatari and Saudi companies.
HE also emphasized the robust relations between both nations, noting that their economic and trade relations are witnessing significant development, in light of the common desire of business communities to forge alliances and partnerships that contribute to developing the two countries’ bilateral trade exchange.
Sheikh Khalifa pointed out that the trade volume between both countries last year amounted to QR 674mn, noting that this level doesn’t correspond with aspirations of both peoples.
As for the role of the joint business council in boosting trade between both nations, HE indicated that the council has an essential role in enhancing the interests of the private sector in both countries, expanding joint investments, and reviewing means to improve the business environment and overcome obstacles and challenges facing investors in both sides.
He added that the council will enhance cooperation between the private sectors, especially since the time is appropriate for both parties to cement their cooperation and develop the trade exchange, in light of the tremendous potential available in both countries in various economic sectors and the offered incentives for investment.
For his part, Hamad Al-Shuwaier praised the deep relations between both countries and the common desire to enhance cooperation and benefit from the economic transformation in both countries through establishing more commercial partnerships and alliances.
He noted that the trade volume between both countries reached QR 800 mn in the first half of this year.
The Council is a new phase of the joint economic work between both sides, he said, stressing that it will enhance exchange in all economic fields and that both countries have achieved great economic achievements.
For his part, HE Eng. Mohammed Al-Hasana underscored the importance of strengthening relations between both nations in all fields, stressing his trust in the council to be a booster for their trade exchange.
He also pointed out that the Saudi Ministry of Investment and the Qatar Investment Authority chair the Investment, Energy, and Infrastructure Committee emanating from the Saudi-Qatari Coordination Council, indicating that the committee has put forward a number of important initiatives that stimulate mutual investment between the private sector in both sides.
Ambassador of the KSA to the State of Qatar HH Prince Mansour bin Khalid bin Farhan Al Saud expressed his pleasure in the launch of the Qatari-Saudi Business Council, affirming the common intention of both countries to strengthen relations to better than pre-2017 levels.
Investor Relations Officer at the Investment Promotion Agency
Abdullah Ahmed Al-Emadi delivered a presentation about the investment climate and opportunities available in Qatar.
In turn, Chairman of Al-Ahsa Chamber of Commerce Abdulaziz Al-Mousa invited the Qatari side to attend the “Al-Ahsa Investment Forum” which will be held in February 2023, while the General Secretariat Ebrahim Al-Sheikh Mubarak reviewed the investment climate in Al-Ahsa region.