The Qatari-Saudi business council convened on Thursday at the Doha Exhibition and Convention Centre to discuss the events of the 9th edition of the Made in Qatar Exhibition.
The meeting was presided over by Qatar Chamber Chairman HE Sheikh Khalifa bin Jassim Al Thani and the Chairman of the Saudi side at the council HE Hamad bin Ali Al Shuwaier, alongside members of the council from both sides.
The meeting focused on activating the Business Council through an increase in mutual visits. It delved into the Council’s action plan for 2024 and set the timing for the next meeting in the first quarter of that year. Additionally, discussions touched on strategies to facilitate the establishment of companies and streamline trade and investment procedures between the two brotherly countries.
Addressing the meeting, HE Sheikh Khalifa bin Jassim stated that Qatar and KSA share historic and close relations, highlighting that their trade exchange reached QR 2.2 billion last year, a figure that does not align with the aspirations of both sides.
HE emphasized the significance of strengthening economic cooperation between the two countries. He highlighted that the ongoing efforts of this council result from the commitment and support of the wise leadership in both nations, aiming for the advancement of economic and trade relations on a broader scale. This involves exploring new avenues of cooperation and partnership between Qatar’s private sector and its counterpart.
“Regarding the council, Sheikh Khalifa stated that it serves as a crucial link between Qatari and Saudi businessmen. He emphasized the existence of numerous investment opportunities for the Qatari private sector and its Saudi counterpart.
The QC Chairman called on Qatari businessmen to explore opportunities in KSA and enhance cooperation with their Saudi counterparts in joint ventures. This, he highlighted, would maximize the contribution of the private sector in achieving the National Vision 2030 in both countries.
In his remarsk, HE Hamad bin Ali Al Shuwaier said that the purpose of this meeting is to enhance trade and investment relations between both countries. He highlighted a substantial growth of 70.5% in their trade during the first half of 2023 compared to the same period last year. Additionally, he noted an increase in the number of companies operating in the two countries over the past period.
Al Shuwaier noted that there are plenty of investment opportunities for business owners in various sectors, including real estate, contracting, industrial, energy, tourism, transport, logistics, digital transformation, and other economic sectors. He called for the convening of a Saudi-Qatari Business Forum in Riyadh next year with the aim of showcasing the economic potential and investment opportunities in both countries, as well as the projects available on both sides. The meeting will also address government incentives and obstacles facing trade and investment between the two countries.
At the meeting’s conclusion, Sheikh Khalifa and Al Shuwaier witnessed the signature of a number of agreements between companies from both countries.
In a statement, QC Second Vice-Chairman HE Rashid bin Hamad Al Athba praised the close relations between both countries, emphasizing the keen interest of the wise leadership in advancing these relations to higher levels.
Al Athba underscored the Qatari private sector’s eagerness to enhance cooperation with its Saudi counterpart through the establishment of effective partnerships and trade alliances that mutually benefit both economies.
He also highlighted the vital role that the Council can play in promoting trade between the two countries.
Meanwhile, activities of the ‘Made in Qatar’ exhibition which is being held under the patronage of HH the Amir Sheikh Tamim bin Hamad Al Thani at the DECC continues and runs to Saturday December 2.
The expo is organised by the Qatar Chamber in cooperation with the Ministry of Commerce and Industry with the participation of 450 companies and factories.
In a statement issued by the Chamber, a number of exhibitors expressed satisfaction with their participation in the exhibition, in terms of the notable number of exhibitors, the attendance of interested companies in Qatar, and the diverse range of sectors represented.
They emphasized that the exhibition is the largest in the industrial sector in Qatar, affirming that the accompanying events serve as a platform for industrialists to engage with each other and with major companies and institutions.
Exhibitors expressed their thanks and gratitude to the Qatar Chamber for providing the opportunity to participate in this leading expo.
The statement mentioned that the number of visitors surpassed 2,150 on the opening day.
It also noted that sessions held on the sidelines of the expo were well-attended by interested individuals and experts. Additionally, many bilateral meetings were held between representatives of companies and institutions related to investment and industry.
It siad that several commercial offices, affiliated with various embassies in the State, are participating in the exhibition, while a number of trade delegations visited these offices to learn about the latest technology achieved by the Qatari industry and to acquaint themselves with the products showcased by exhibitors.
QC First Vice-Chairman HE Mohamed bin Twar Al Kuwari met with the Ambassador of the Federal Democratic Republic of Ethiopia, H.E. Mr. Faisal Ali Ibrahim at the exhibition’s venue. The meeting focused on enhancing trade relations between the two countries.
Meanwhile, the Saudi delegation toured pavilions of the exhibition accompanying by QC Chairman HE Sheikh Khalifa bin Jassim Al Thani. The delegation was briefed on the Qatari industry and investment opportunities available in this sector.
During the tour, Saudi businessmen commended the significant progress in the Qatari industry and were greatly impressed by the country’s industries and high-quality products.
HE Hamad Al Shuwaier expressed his pleasure at participating in the opening of the ninth edition of the ‘Made in Qatar’ exhibition. He praised the exhibition in terms of participating companies which reached to 450 companies and manufacturers, emphasizing the exhibition’s crucial role as a platform for showcasing Qatari products.
He highlighted that the exhibition represents a unique opportunity to learn about Qatari industrial companies and their production capabilities. He expected that the exhibition will contribute to the conclusion of trade deals or the establishment of alliances between Qatari and Saudi companies.
MIQ 1st day’s seminars review tenders offered by some institutions and listing in QSE
The first day of the MIQ exhibition included two seminars. The initial seminar, presented by Katara Hospitality and Qatar Airways, focused on business opportunities and tenders for the coming year.
Nadia Traktar, Assistant Manager of Procurement at Katara Hospitality, delivered a working paper titled ‘Business Opportunities with Katara.’ The presentation outlined the opportunities Katara is offering to investors and manufacturers for 2024, with a focus on key tendered sectors such as food, beverages, furniture, furnishings, and others.
She explained that Katara Hospitality made it possible to apply for these supplies online.
In turn, the Qatar Airways procurement team presented and reviewed opportunities for cooperation with Qatari companies and manufacturers during the seminar.
Steven Dow, Vice President of Strategic Sourcing, reviewed a list of supplies and tenders for 2024. He noted that an email had been allocated to receive offers from companies and factories participating in the Made in Qatar exhibition for a duration of two weeks.
The second seminar, titled ‘Listing on Qatar Stock Exchange,’ was presented by Qatar Stock Exchange (QSE) and focused on the importance of listing and the role of QSE in economic development.
The session was moderated by Hamad Khalil from QSE, and it featured the participation of Ahmed Hassan, Senior Business Development Officer in the Listing Department at QSE, as well as Adam Fathi, Director of Investment Banking at Qinvest.
For his part, Ahmed Hassan focused in his presentation on the history of QSE and the significance of listing, emphasizing that QSE, founded in 1965, is one of the leading exchanges in the GCC region.
Hassan mentioned that in 2021, QSE established a specialized platform for start-ups, aiming to assist companies willing to list under simplified conditions. He emphasized the strategic role of QSE as a mirror for the economic process in the state, noting that currently, 55 companies are listed with an estimated market value of QR 600 billion. This figure indicates the extent of economic, commercial, and industrial diversification on the QSE.
For his part, Adam Fathi noted that the role of the listing consultant is the link between the company, supervisory authorities, and all other entities during the listing journey, making it easier for the company willing to list.
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Fathi pointed out that the duration for a company to complete the listing process can vary, taking up to one year or even more. He urged companies to address the concerns associated with listing and to prepare thoroughly for the listing process.