The volume of trade exchange between Saudi Arabia and Qatar witnessed remarkable growth exceeding 335 percent in the last two years. Trade between the two Gulf states increased from $184.6 million in 2021 to $802.5 million in 2023.
This came during theĀ Qatar-Saudi Arabia roundtable for investment development which was co-chaired by Mohammed bin Hassan Al Malki, Qatar’s undersecretary of the Ministry of Commerce and Industry and Ibrahim bin Yousef Almubarak, assistant Minister of Investment and CEO of the Saudi Investment Marketing Authority (SIPA).
The roundtable sought to enhance and develop bilateral investments between the two countries and explore opportunities for cooperation in real estate, sports and entrepreneurship, with the participation of representatives of government agencies and major companies from both countries.
Stronger partnerships and cooperation
In his opening remarks, Al Malki emphasized that the joint meetings between Qatar and Saudi Arabia represent an ideal platform to discuss economic issues of common interest and open new horizons for partnership and cooperation between the two fraternal countries. He stressed that Qatar and Saudi Arabia share common goals and ambitions that aim to bolster bilateral relations in various fields.
He also noted the importance of intensifying efforts to increase the volume of bilateral investments, facilitate trade movement and enhance cooperation in various sectors.
Al Malki also indicated that enhancing trade and economic cooperation between the two countries requires consolidating strategic partnerships between the public and private sectors and encouraging collaboration between small and medium-sized enterprises, which contributes to achieving industrial integration and enhancing trade exchange between the two sides.
Read: Dubaiās exclusive number plates auction sets record high revenues of $22.10 million
Qatar’s National Vision 2030 propels growth
Al Malki added that Qatar has achieved great accomplishments since the launch of Qatar National Vision 2030, especially in infrastructure, establishing companies and economic partnerships that have contributed to enhancing development in the industry and services sectors. Qatar’s Third National Development Strategy (2024-2030) focuses on priority sectors, which opens new horizons for cooperation and joint investment.
Al Malki urged businesspersons from both Qatar and Saudi Arabia to explore investment opportunities provided by the two countries’ national visions and establish partnerships in vital sectors that add value to their economies.
The meeting also highlighted the advantages of the business environment in Qatar and Saudi Arabia and discussed ways to enhance cooperation in various sectors. The roundtable also held several bilateral meetings between representatives of the Qatari private sector and a number of Saudi companies to explore opportunities for cooperation, exchange expertise and build new investment partnerships in sectors of common interest.
