Qatar, UAE business council yesterday announced a plan to form a committee that will explore investment opportunities in the two countries and in the region. The committee or team will look for opportunities in the region and outside in the area of food security, tourism, services, information technology, housing and other sectors.
Qatar Chamber yesterday organised Qatar-UAE Joint Business Council Meeting and Qatari UAE Economic Forum at the Sheraton Grand Hotel. The businessmen from both countries also discussed the idea of electronically connecting the chambers of Qatar and the UAE.
“The committee will be a six-member team comprising three members from Qatar and three from the UAE,” said Mohamed bin Ahmed bin Twar, Vice Chairman, Qatar Chamber, speaking on the sidelines of the meeting.
For the Qatari side, the committee will be composed of Qatar Chamber vice chairman Mohamed bin Towar al-Kuwari and board members Ali Abdullatif al-Misnad and Mohamed Ahmed al-Obaidly, while Abu Dhabi Chamber of Commerce and Industry 1st deputy chairman Dr Ibrahim al-Mahmoud, Mohamed al-Noaimi, Atig Jomaa, and Abdula al-Marzoqi will represent the UAE.
Bin Twar, who spoke to media, noted that the committee will focus on three main sectors: food security, tourism and it will study the investment, entrepreneurship, and business projects between Qatar and UAE, including the “obstacles facing the business community.”
Once established, he said, it will evaluate the possibility of establishing a joint investment fund to support future projects.
Addressing the meeting, Bin Twar said the linking of Qatar Chamber with the chambers of the UAE will help businessmen in both countries to easily access information related to business and investment. Qatar and the UAE are implementing many mega projects and sharing experience and knowledge in this field will benefit both countries. He stressed on the need to further increase the visits of business delegations between the two countries to increase trade.
He also underscored the importance of “exchanging experiences from both sides, especially for mega projects,” and noted that there is “strong confirmation and desire” to enhance partnerships and co-operation between Qatari and UAE private sectors.
He said the business council also suggested the establishment of an “electronic gate” to provide Qatar and UAE business chambers online access “to help interested parties explore the investment opportunities, business procedures, and sectors available.”
A proposal to link Qatar Chamber with all the chambers of commerce in UAE digitally was also discussed during the meeting.
Qatar Chamber Chairman Sheikh Khalifa bin Jassim al Thani told reporters that linking all the chambers in the two countries will be vital in providing instant information about upcoming projects.
The volume of trade between the two countries is rising at a good pace, Sheikh Khalifa said adding that the ‘e-gate’ link will create more opportunities for bilateral trade.