Ukraine Minister of Finance affirms common desire to strengthen economic cooperation

Qatar Chamber, February 24, 2021

Bin Twar: Qatar, Ukraine trade exceeded $ 97 million last year

The Qatar Chamber, in cooperation with the Ukrainian Chamber of Commerce and Industry, held on Wednesday the “Qatar-Ukraine Business Meeting” via video conferencing.

The webinar aimed to review aspects of cooperation between the Qatari private sector and its Ukrainian counterpart as well as explore investment opportunities available in both countries.

QC First Vice Chairman HE Mohamed bin Ahmed bin Twar Al Kuwari prsided over the Chamber’s delegation participating at the meeting which saw the participation of QC Board Member Abdul Rahman bin Abdulla Al Ansari and a number of Qatari businessmen.

The virtual meeting was attended President of the Ukrainian Chamber of Commerce and Industry Gennadiy Chyzhykov and Vice President of the Ukrainian Chamber of Commerce and Industry ValeriyKorol.

H.E. Mr. Serhii Marchenko, Minister of Finance of Ukraine, attended the meeting alongside with Taras Kachka, Deputy Minister for development of Economy, Trade and Agriculture of Ukraine – Trade Envoy of Ukraine.

Further, H.E. Mr. Hadi Bin Nasser Mansour Al-Hajri, Ambassador of the State of Qatar to Ukraine and H.E. Mr. Andriy Kuzmenko, Ambassador of Ukraine in the State of Qatar were present.

Addressing the meeting, H.E. Mr. Serhii Marchenko, Minister of Finance of Ukraine, said there is a common desire between both sides to enhance their relations at all levels, especially in commercial and economic aspects.

HE also underscored the keenness of both countries’ businessmen on increasing their partnerships and identifying the available opportunities in the most important sectors in both countries.

Marchenko also indicated that the past year has seen a considerable surge in the two countries’ bilateral trade, affirming that this year would witness more cooperation, activities and meetings with the aim to enhance cooperation in some sectors such as energy, agriculture and financial services.

Addressing the webinar, HE Mohamed bin Twar said that the State of Qatar and the Republic of Ukraine are associated with strong and close relations in all fields. Both countries have greatly managed to develop their relations within the past few years through intensifying cooperation on various areas and exchanging visits between leaders and officials, noting that the two countries have exchanged and signed a number of bilateral agreements in diverse fields towards deepening and enhancing the mutual cooperation.

Despite these distinct relations, the two countries’ bilateral trade is still below the aspirations. In 2019, the two countries’ trade exchange reached $ 87 million, while it exceeded $ 97 million last year, he added.

Speaking about mutual investment. Bin Twar said that there is an important project between both countries which is the concession project obtained by the Qatari company QTerminals in the Ukrainian Olivia Port. This project will help boost economic cooperation between Qatari companies and Ukrainian and international companies in general. It will also support the maritime line operations between Hamad Port and Ukrainian ports.

HE pointed out that the Qatar Chamber hosted many trading delegations from Ukraine in the past few years, assuring that these meetings have contributed to further enhancing the cooperation ties between the two chambers which signed in 2014 a memorandum of understating to establish a Qatari-Ukrainian business council with the aim facilitating cooperation between businessmen from both sides.

QC First Vice Chairman also said that Qatar Chamber highly supports the cooperation between Qatari and Ukrainian companies and hope to see more commercial partnerships and economic alliances between the Qatari private sector and its Ukrainian counterpart.

He expressed his hope that the discussions would contribute to encouraging companies of both countries to seek important new investment partnerships for the advantage of both economies.

Bin Twar invited the Ukrainian companies to invest in Qatar, where there are a wide range of investment opportunities in all sectors and called Qatari companies to explore the investment opportunities in Ukraine in all sectors, especially in food security and agriculture areas.

As for Qatar’s investment climate, he indicated that the State of Qatar, under the wise leadership of the Amir HE Sheikh Tamim bin Hamad Al Thani, has accomplished great achievements and made impressive strides in many areas. It 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.

Gennadiy Chyzhykov, President of the Ukrainian Chamber of Commerce and Industry, praised the distinguished relations between Qatar and Ukraine, stressing the interest of both countries to further develop their cooperation in many fields, especially in food security and energy.

He called Qatari investors to invest in his country and benefit from the incentives and opportunities offered for foreign investors.

H.E. Hadi Bin Nasser Mansour Al-Hajri, Ambassador of the State of Qatar in Ukraine, stressed that there is a plenty of opportunities for cooperation between both countries, noting that QTerminals in the Ukrainian Olivia Port would open new prospects for more Qatari investments in Ukraine.

For his part, H.E. Mr. Andriy Kuzmenko, Ambassador of Ukraine in the State of Qatar, said that both countries enjoy distinct relations and their bilateral trade has seen significant development within the past few years, noting that the agreements and MOUs signed between hem have helped in streamlining the establishment of more partnerships and investments between both parties.

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