QC, Al Ahsa chamber explore ways to strengthen trade ties
Tribune News Network
Doha
In a significant move to deepen economic collaboration and reinforce private sector cooperation, Qatar Chamber (QC) on Thursday hosted a high-level delegation from the Al-Ahsa Chamber of Commerce, Saudi Arabia.
The visiting delegation was led by the Al Ahsa Chamber Chairman Mohamed bin Abdulaziz Al Afaleq and included vice-chairmen, board members, and the secretary-general.
The delegation was received at Qatar Chamber headquarters by QC Second Vice-Chairman Rashid bin Hamad Al Athba along with several QC board members and seniorofficials.
The high-level meeting focused on exploring avenues for enhanced cooperation between the two chambers, with the objective of fostering closer ties between the private sectors of Qatar and Saudi Arabia particularly in the Al-Ahsa region, known for its economic potential and vibrant businessenvironment.
In his opening remarks, Rashid Al Athba underlined the Qatar Chamber's firm commitment to enhancing collaboration with its Saudi counterpart. He stressed the need to forge strong partnerships between Qatari and Saudi business communities, identifying investment opportunities and encouraging the establishment of joint ventures that can boost bilateral trade and foster sustainable economicdevelopment.
Highlighting the growing economic and trade relationship between the two countries, Al Athba noted the remarkable 65 percent increase in bilateral trade, which surged from QR2.97 billion in 2023 to QR4.88 billion in 2024. He attributed this impressive growth to the forward-looking visions and strategic directives of the leaderships in both nations.
'The robust ties between Qatar and Saudi Arabia are built on mutual respect, shared history, and a common vision for economic prosperity. The private sector plays a vital role in realising the aspirations outlined in our respective National Vision 2030 frameworks,' Al Athba said.
He encouraged companies from both countries to explore untapped opportunities in key sectors such as manufacturing, food security, logistics, tourism, and technology — all of which offer value-added prospects and long-term growth.
Al Athba also reaffirmed Qatar Chamber's support for any initiative that seeks to promote cross-border collaboration and investment flows, expressing optimism about intensifying coordination with the Al Ahsa Chamber through joint programmes, exchange visits, and forums.
Speaking at the meeting, Mohamed Al Afaleq, emphasised the historic and fraternal relations between Qatar and Saudi Arabia, asserting that stronger private sector cooperation is pivotal for achieving economic integration.
He reiterated the Al Ahsa Chamber's readiness to work hand-in-hand with Qatar Chamber to foster stronger business ties, facilitate bilateral trade, and promote investments in both regions. Al Afaleq also lauded the efforts of the Qatari-Saudi Joint Business Council for its instrumental role in nurturing a conducive environment for private sector engagement.
In a proactive gesture, Al Afaleq extended an invitation to the Qatar Chamber to lead a delegation of Qatari entrepreneurs and investors to Al Ahsa. The proposed visit aims to showcase the promising investment opportunities available in Al Ahsa Oasis — a UNESCO World Heritage site and one of the most dynamic economic zones in eastern Saudi Arabia.
As part of the meeting's agenda, attendees were presented with a detailed overview of Qatar's business landscape, investment climate, and strategic sectors open to foreign investors. The presentation was followed by bilateral business-to-business (B2B) sessions, allowing Qatari and Saudi businessmen to explore potential synergies, discuss trade alliances, and lay the groundwork for future partnerships.
Both chambers agreed on the importance of continuous dialogue and joint action to capitalize on emerging opportunities and reinforce the role of the private sector in shaping the future of Qatari-Saudi economic relations.
The meeting concluded on a high note with mutual agreement to enhance institutional collaboration, co-organize business forums, and strengthen the framework for commercial cooperation in alignment with the evolving economic goals of both nations.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Qatar Tribune
9 hours ago
- Qatar Tribune
Qatar-Kuwait relations deep-rooted, growing stronger, says Kuwaiti envoy
QNA Doha Ambassador of Kuwait to Qatar HE Khaled Bader Al Mutairi has described his diplomatic tenure in Doha as a 'rich and fruitful experience both professionally and personally,' emphasising that the ties between the two countries are 'deep-rooted and steadily advancing.' In an interview with Qatar News Agency (QNA), Al Mutairi reflected on his three-year tenure in Qatar, stating that his experience in Qatar was exceptional by all measures. 'It was enriching not only professionally and diplomatically, but also on a personal and social level,' he said. Though he spent many years working abroad, his time in Qatar was unlike any other — he never once felt like a stranger, he said, adding that he lived here as though he were in Kuwait, surrounded by familiar warmth and genuine hospitality. On Kuwaiti-Qatari relations, the ambassador affirmed that the two nations share a long-standing and strong bond that transcends diplomatic posts or ambassadors. He noted that the achievements made during his time in Qatar would not have been possible without the tremendous support from both leaderships, which greatly contributed to the success of the diplomatic mission and enabled the embassy to translate relations into tangible outcomes that serve the interests of both countries. Ambassador Al Mutairi added that he had the honour of leading the Kuwaiti embassy team in achieving several important milestones, chief among which was the signing of key agreements under the umbrella of the Joint Higher Committee. These agreements, according to him, were not merely official documents - they embodied the spirit of close cooperation between the two countries and represented a strategic step toward deepening bilateral ties and unlocking new areas of integration across various sectors. He highlighted the strength of bilateral cooperation, particularly in economic and trade sectors, pointing out that mutual investments surpassed $2 billion, while trade volume reached approximately 61 million Kuwaiti dinars in the first half of 2024. He added that this positive momentum reinforces the shared responsibility to intensify joint efforts, seize emerging opportunities, and promote mutual interests in a way that aligns with the two countries' economic aspirations and opens up new avenues for fruitful cooperation that benefits both nations. He also noted the recent signing of a bilateral agreement to avoid double taxation and eliminate investment barriers - steps expected to boost trade and encourage investment flows. One of the major highlights of his term, he said, was the sixth session of the Kuwait-Qatar Joint Higher Committee, held on February 3 in Doha. The session resulted in the signing of several key memorandums of understanding, including on standardisation activities, industrial export development, social insurance cooperation, and a cultural and artistic cooperation programme for 2025 and 2026. Ambassador Al Mutairi also shed light on the cultural and social closeness between Kuwait and Qatar, saying that religious and national celebrations are almost identical. The two countries share the same culture and environment, which is why Kuwaitis frequently visit Qatar - even for weekend getaways - and can often be found enjoying the country's hotels and tourist destinations, he added. He also praised Qatar's gesture of naming a major road in Doha after the late Amir Sheikh Sabah Al Ahmad Al Jaber Al Sabah, calling it a mark of deep respect for a globally revered leader and a symbol of the profound ties between our two countries. He spoke of promising developments regarding a unified Gulf tourism visa, saying that positive steps are underway and will materialise soon. On customs cooperation, he affirmed there is strong coordination between Kuwait and Qatar to streamline customs procedures and minimise redundancy, particularly at various Gulf entry points.
Qatar Tribune
9 hours ago
- Qatar Tribune
QSE welcomes $200 mn Fiera Fund
QNA Doha The Qatar Stock Exchange (QSE) has welcomed the announcement by the Qatar Investment Authority (QIA) of a strategic partnership with Fiera Capital to launch the $200 million Fiera Qatar Equity Fund, a landmark initiative aimed at enhancing market liquidity, increasing the free float of Qatari equities, and attracting new institutional capital to the Qatari market. This initiative reflects QIA's continued commitment to advancing Qatar's economic diversification and strengthening key sectors, notably financial markets and asset management, according to a statement issued on the QSE website. The engagement of active fund managers represents a significant step in broadening the investor base and boosting free float shares in the market. As the anchor investor, QIA will convert a portion of its long-term strategic holdings in listed Qatari companies into assets managed actively within the fund. This approach is expected to inject substantial new liquidity into the market, facilitate greater institutional participation, and attract a wider range of global investors to Qatar's evolving financial landscape. QSE considers this fund a strategic addition to the suite of specialised investment products in the local market. It will play a critical role in diversifying the investor base, supporting sustainable, high-quality capital inflows, and reinforcing Qatar's position as a leading regional financial hub. The exchange also reaffirmed its commitment to continued collaboration with QIA on initiatives that contribute to the objectives of the Third Financial Sector Strategy and Qatar National Vision 2030. QIA has been instrumental in strengthening Qatar's capital markets through a series of targeted programs, including the Market Making initiative, the Securities Lending and Borrowing framework, and the Active Asset Management initiative launched in 2024. These efforts have already delivered tangible results, including the $200 million Qatar-focused equity fund launched in partnership with Ashmore Group. The newly announced collaboration with Fiera Capital marks another important milestone in expanding market participation and supporting the long-term growth of Qatar's financial ecosystem.
Qatar Tribune
9 hours ago
- Qatar Tribune
Invest Qatar, QFZ to showcase investment opportunities on Asia tour
Tribune News Network Doha Invest Qatar, the Investment Promotion Agency of Qatar, is set to organise a high-level business roadshow across key Asian markets, including China and Japan, in collaboration with Qatar Free Zones Authority (QFZ). The roadshow aims to showcase Qatar's diverse investment opportunities and foster direct engagement with international investors, business leaders and key stakeholders. Invest Qatar and QFZ will host a series of engagements, designed to deepen economic ties, promote Qatar's business-friendly ecosystem and foster sustainable international partnerships aligned with the long-term development goals under the Third National Development Strategy (NDS3). Through curated B2B meetings, sector-specific briefings and targeted roundtable discussions, the roadshow will enable Asian investors to explore the array of opportunities across key sectors, including ICT, logistics, manufacturing and financial services. Invest Qatar has been partnering with key Asian businesses and entities, supporting their business launch and growth in Qatar and the region. Recent partnerships included Level Infinite, Tencent's global games brand, aimed to grow the local gaming ecosystem and share global best practices by facilitating Level Infinite's entry into the Qatari market. Similarly, Kingdee International Software Group Company Limited announced the opening of its regional headquarters, marking its official entry into the Middle East market, facilitated through the support of Invest Qatar, QFZ and Qatar Investment Authority (QIA). Growth of Asian investment in Qatar in 2024, Qatar recorded over $1.4 billion in foreign direct investment (FDI) from China and Japan, contributing to the creation of more than 600 jobs across key sectors such as automotive, consumer electronics, business services and IT. According to Invest Qatar's 2024 Annual Report, China ranked among the top five source countries by project volume, with 12 investment projects. Japan emerged as the leading contributor to FDI capital expenditure (capex), accounting for $1.38 billion, representing 50.2 percent of total FDI, underscoring its strong commitment to Qatar's economic growth and expanding presence in priority sectors. Leading Chinese and Japanese companies, including Hisense, Shenzhen Airlines, Midea Group, BYD, Mitsubishi Electric and Sumitomo Group, have already established a strategic footprint in Qatar, reinforcing the country's position as a regional investment hub.
