About 11 Qatari-Azeri joint companies operating in Qatar, says bin Twar

02-03-2021

Qatari – Azerbaijan Business Meeting

The Qatar Chamber, in cooperation with Azerbaijan Export and Investment Promotion Foundation (AZPROMO), held on Tuesday the “Qatar-Azerbaijani Business Meeting” through video conferencing.

The virtual meeting aimed at reviewing aspects of cooperation between the Qatari private sector and its Azerbaijani counterpart, as well as exploring investment opportunities available in both sides and boosting cooperation between businessmen of both countries.

The meeting was presided over by QC First Vice Chairman HE Mohamed bin Ahmed bin Twar Al Kuwari and  Head of Azerbaijan Export and Investment Promotion Foundation (AZPROMO) HE Yusif Abdullayev and was attended by a number of representatives of private sector and businessmen from both parties.

Ambassador of Qatar to Azerbaijan H.E. Mr. Faisal bin Abdullah Al Henzab and Ambassador of Azerbaijan to Qatar H.E. Mr. Rashad Ismayilov also participated in the meeting.

QC Board Member Abdulrahman Al Ansari also participated in the meeting.

Addressing the meeting, HE QC First Vice Chairman Mohamed bin Ahmed bin Twar Al Kuwari, praised the distinguished relations between both countries which have seen continuing development since the visit of the Amir HH Sheikh Tamim bin Hamad Al Thani to Azerbaijan in March 2016 and the visit of the President of Azerbaijan Ilham Aliyev in February 2017, noting that these visits have established a new phase of cooperation in all fields and witnessed signing many agreements to enhance cooperation between the two friendly countries.

As for the bilateral trade between Qatar and Azerbaijan, Al Kuwari said that it reached QR 47 million in 2020 compared with QR 5 million in 2019, indicating that this volume doesn’t reflect the close relations between then and the huge potential available in both countries.

He called on the Qatari and Azerbaijani private sectors to exert extra efforts to increase the two countries’ bilateral trade and taking it to higher levels to correspond with the aspirations of both parties.

Al Kuwari also said that bolstering cooperation and establishing more alliances and commercial partnerships between Qatari and Azerbaijani businessmen would develop the two countries’ trade exchange and investments, expressing the preparedness of Qatar Chamber to provide support and assistance for Azerbaijani businessmen who are willing to invest in Qatar and forge genuine partnerships with their Qatari counterparts.

There are 11 Azerbaijan-Qatari companies working in Qatar, he noted, expressing his hope to increase these commercial alliances between the private sectors of both countries.

He called Azerbaijani companies to invest in Qatar which offers a plenty of investment opportunities at all sectors and invited Qatari companies to explore the investment opportunities available in Azerbaijan in food, agriculture, energy and tourism and other sectors.

Elaborating the incentives of investment in Qatar, he said that the State has developed a very sophisticated infrastructure and issued a slew of economic legislation that placed Qatar among the world’s top destinations for investments and business.

“Qatar has built an attractive investment environment through the facilities and incentives it offers for foreign investors, which allowed 100% ownership as well as exemption from income tax and customs duties on imported machines and equipment,” he added.

For his part, Head of Azerbaijan Export and Investment Promotion Foundation (AZPROMO) HE Yusif Abdullayev called Qatari investors to explore the investment opportunities available in Azerbaijan and learn about the developed areas which offer vapours opportunities that attract Qatari investors.

Abdullayev praised the distinct relations between both countries since they established diplomatic relations in 1994, indicating that both parties are exerting tireless efforts to develop and upgrade these relations at all aspects of cooperation, stressing that Azerbaijan is a leading destination for investment, especially after the reforms it made in its investment ecosystem.

“There are many Qatari companies operating in Azerbaijan in many sectors such as industry, services, agriculture, and transport,” he noted.

For his part, Ambassador of Qatar to Azerbaijan H.E. Mr. Faisal bin Abdullah Al Henzab said that both countries have a common desire to develop their economic and commercial ties to meet the aspiration of their peoples, indicating that there are about 33 signed agreements between them in several fields.

Ambassador of Azerbaijan to Qatar H.E. Mr. Rashad Ismayilov said the meeting offered a valuable opportunity for both sides to get acquainted with the enterprises that are available in both countries.

During the meeting, Zohrab Gadirov, Head of Investment Promotion Department (AZPROMO) and Hamad Bin Rashid AL- Al Nuaimi, Head of Investors Relations at the Investment Promotion Agency of Qatar (IPAQ) delivered separate presentations highlighting the investment climate and opportunities as well as an overview about economy in both countries.

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